Deseret Mutual Benefit Administrators Decreases Stake in RTX Co. (NYSE:RTX)

Deseret Mutual Benefit Administrators lessened its stake in RTX Co. (NYSE:RTX) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,963 shares of the company’s stock after selling 99 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in RTX were worth $227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in RTX by 1.9% in the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after buying an additional 508,344 shares in the last quarter. Fisher Asset Management LLC increased its stake in RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares in the last quarter. FMR LLC raised its holdings in RTX by 8.7% during the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after purchasing an additional 490,109 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in RTX by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock worth $713,222,000 after purchasing an additional 140,697 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in RTX by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock worth $342,886,000 after purchasing an additional 25,407 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

RTX stock opened at $123.23 on Friday. The stock has a market capitalization of $164.16 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43. The stock’s fifty day simple moving average is $121.49 and its 200-day simple moving average is $120.89.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. RTX’s payout ratio is 70.99%.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RTX shares. Bank of America raised their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. UBS Group raised their target price on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.