State of Michigan Retirement System Raises Stock Position in RTX Corporation $RTX

State of Michigan Retirement System increased its stake in RTX Corporation (NYSE:RTX) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 392,232 shares of the company’s stock after purchasing an additional 700 shares during the quarter. State of Michigan Retirement System’s holdings in RTX were worth $57,274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock worth $15,873,541,000 after purchasing an additional 1,357,328 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in RTX by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company’s stock worth $1,371,171,000 after purchasing an additional 104,139 shares during the last quarter. Invesco Ltd. boosted its holdings in RTX by 1.5% in the first quarter. Invesco Ltd. now owns 10,312,313 shares of the company’s stock worth $1,365,969,000 after purchasing an additional 154,544 shares during the last quarter. Dimensional Fund Advisors LP raised its position in RTX by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company’s stock worth $1,021,623,000 after acquiring an additional 65,493 shares during the period. Finally, Nuveen LLC purchased a new position in shares of RTX during the 1st quarter worth $916,739,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.7%

Shares of RTX stock opened at $178.70 on Friday. The company has a market capitalization of $239.60 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.79 and a beta of 0.66. RTX Corporation has a one year low of $112.27 and a one year high of $181.31. The company’s fifty day moving average price is $163.32 and its 200-day moving average price is $149.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 0.81.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.41 by $0.29. The firm had revenue of $22.48 billion for the quarter, compared to the consensus estimate of $21.26 billion. RTX had a net margin of 7.67% and a return on equity of 13.28%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $1.45 EPS. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Friday, November 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, November 21st. RTX’s dividend payout ratio (DPR) is presently 55.85%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Robert W. Baird set a $203.00 price target on shares of RTX in a research note on Wednesday, October 22nd. The Goldman Sachs Group lifted their price target on shares of RTX from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Susquehanna lifted their price target on shares of RTX from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of RTX in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.47.

Insider Activity

In other news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $180.15, for a total transaction of $873,547.35. Following the sale, the executive vice president directly owned 59,556 shares in the company, valued at $10,729,013.40. This trade represents a 7.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the sale, the insider owned 16,442 shares in the company, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 51,318 shares of company stock valued at $8,238,388 over the last 90 days. Company insiders own 0.15% 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.