Arizona State Retirement System Cuts Stake in RTX Co. (NYSE:RTX)

Arizona State Retirement System cut its stake in shares of RTX Co. (NYSE:RTX) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 385,473 shares of the company’s stock after selling 27,156 shares during the quarter. Arizona State Retirement System’s holdings in RTX were worth $38,698,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RTX. Briaud Financial Planning Inc grew its holdings in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of RTX during the second quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX during the second quarter valued at $32,000. Fairman Group LLC purchased a new stake in shares of RTX during the fourth quarter valued at $38,000. Finally, Beaird Harris Wealth Management LLC grew its holdings in shares of RTX by 42.2% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 139 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Down 0.3 %

Shares of NYSE RTX opened at $119.26 on Friday. RTX Co. has a 12-month low of $68.56 and a 12-month high of $123.70. The stock has a market cap of $158.56 billion, a PE ratio of 46.91, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $111.78 and a 200 day moving average of $104.03.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the prior year, the company earned $1.29 EPS. RTX’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on RTX shares. Wells Fargo & Company decreased their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada upped their price objective on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Melius Research upped their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $153.47.

Insider Activity

In other news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 in the last 90 days. Company insiders own 0.13% of the company’s stock.

RTX 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.