RTX Co. (NYSE:RTX) Stake Lessened by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of RTX Co. (NYSE:RTX) by 2.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,701,854 shares of the company’s stock after selling 48,353 shares during the quarter. New York State Common Retirement Fund owned 0.13% of RTX worth $206,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Principal Securities Inc. lifted its position in shares of RTX by 6.9% in the third quarter. Principal Securities Inc. now owns 30,926 shares of the company’s stock worth $3,747,000 after purchasing an additional 2,008 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in RTX by 0.7% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 240,519 shares of the company’s stock worth $29,141,000 after buying an additional 1,751 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in shares of RTX by 15.4% during the 3rd quarter. AustralianSuper Pty Ltd now owns 22,247 shares of the company’s stock valued at $2,695,000 after buying an additional 2,975 shares during the period. Sippican Capital Advisors boosted its stake in shares of RTX by 0.9% during the 3rd quarter. Sippican Capital Advisors now owns 17,573 shares of the company’s stock valued at $2,129,000 after buying an additional 155 shares during the period. Finally, Catalyst Financial Partners LLC grew its holdings in shares of RTX by 1.7% during the 3rd quarter. Catalyst Financial Partners LLC now owns 11,172 shares of the company’s stock valued at $1,354,000 after acquiring an additional 187 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of recent research reports. UBS Group boosted their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Susquehanna raised their price objective on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company reduced their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $177.27.

RTX Stock Performance

Shares of NYSE RTX traded down $0.18 during trading hours on Friday, hitting $120.81. 333,019 shares of the company’s stock were exchanged, compared to its average volume of 6,681,987. The stock has a market capitalization of $160.80 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 2.12 and a beta of 0.82. The company’s 50-day moving average price is $122.13 and its 200-day moving average price is $111.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 1-year low of $78.00 and a 1-year high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the prior year, the business earned $1.25 earnings per share. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.09%. RTX’s payout ratio is 72.00%.

RTX Company Profile

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.