RTX Corporation (NYSE:RTX) Shares Sold by Conning Inc.

Conning Inc. lessened its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 12.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 279,007 shares of the company's stock after selling 40,633 shares during the quarter. RTX makes up 1.3% of Conning Inc.'s portfolio, making the stock its 14th largest holding. Conning Inc.'s holdings in RTX were worth $36,957,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. MorganRosel Wealth Management LLC bought a new stake in shares of RTX during the 1st quarter valued at $26,000. 10Elms LLP bought a new stake in shares of RTX during the 4th quarter valued at $29,000. Fairway Wealth LLC bought a new stake in shares of RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management raised its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares during the period. Finally, Greenline Partners LLC bought a new stake in shares of RTX during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Activity

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president directly owned 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RTX. Cowen restated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Susquehanna decreased their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a research report on Friday, April 25th. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada reduced their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $161.12.

RTX Price Performance

Shares of RTX stock traded up $1.28 during trading hours on Friday, reaching $145.80. The company's stock had a trading volume of 1,888,713 shares, compared to its average volume of 5,348,312. The firm has a 50 day moving average price of $136.83 and a 200-day moving average price of $129.07. RTX Corporation has a one year low of $99.42 and a one year high of $149.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock has a market cap of $194.78 billion, a P/E ratio of 24.83, a P/E/G ratio of 2.63 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.87%. RTX's dividend payout ratio (DPR) is 79.77%.

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.