California Public Employees Retirement System Has $386.42 Million Stock Position in RTX Co. (NYSE:RTX)

California Public Employees Retirement System cut its holdings in RTX Co. (NYSE:RTX) by 13.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,339,255 shares of the company’s stock after selling 534,209 shares during the quarter. California Public Employees Retirement System’s holdings in RTX were worth $386,419,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RTX. Quantbot Technologies LP acquired a new stake in shares of RTX in the third quarter valued at about $405,000. Freedom Investment Management Inc. increased its position in shares of RTX by 37.7% during the 3rd quarter. Freedom Investment Management Inc. now owns 3,508 shares of the company’s stock worth $425,000 after purchasing an additional 960 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of RTX by 13.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 58,013 shares of the company’s stock worth $7,029,000 after purchasing an additional 6,900 shares in the last quarter. Vinva Investment Management Ltd boosted its holdings in shares of RTX by 24.9% in the 3rd quarter. Vinva Investment Management Ltd now owns 10,273 shares of the company’s stock valued at $1,237,000 after buying an additional 2,048 shares during the last quarter. Finally, Martingale Asset Management L P grew its stake in shares of RTX by 2,059.9% in the third quarter. Martingale Asset Management L P now owns 95,229 shares of the company’s stock valued at $11,538,000 after buying an additional 90,820 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada raised their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley boosted their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by corporate insiders.

RTX Trading Down 1.3 %

Shares of RTX stock opened at $131.68 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a 50-day moving average of $128.59 and a 200-day moving average of $123.03. RTX Co. has a 52-week low of $97.03 and a 52-week high of $136.17. The stock has a market cap of $175.81 billion, a PE ratio of 37.09, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.91%. RTX’s dividend payout ratio is presently 70.99%.

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.