California Public Employees Retirement System Sells 534,209 Shares of RTX Co. (NYSE:RTX)

California Public Employees Retirement System lowered its holdings in RTX Co. (NYSE:RTX) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 owned 0.25% of RTX worth $386,419,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fairway Wealth LLC bought a new stake in shares of RTX in the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its position in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares during the period. Modus Advisors LLC acquired a new position in RTX during the fourth quarter worth $39,000. Millstone Evans Group LLC bought a new position in shares of RTX during the fourth quarter valued at $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of RTX in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Down 1.3 %

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

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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%. On average, sell-side analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.91%. RTX’s dividend payout ratio is 70.99%.

Insider Buying and Selling

In other news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last 90 days. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. UBS Group raised RTX from a “neutral” rating to a “buy” rating in a report on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $166.40.

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.