RTX Corporation (NYSE:RTX) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its stake in RTX Corporation (NYSE:RTX - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,124 shares of the company's stock after selling 21,984 shares during the period. Manning & Napier Advisors LLC's holdings in RTX were worth $34,191,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after buying an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC raised its stake in RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock valued at $2,204,198,000 after buying an additional 576,214 shares in the last quarter. Franklin Resources Inc. lifted its holdings in RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after buying an additional 603,159 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of RTX during the 4th quarter worth about $1,745,644,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Amy L. Johnson sold 4,146 shares of the 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 sale, the vice president now directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the company'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 now directly owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX Stock Performance

NYSE RTX traded up $0.88 on Friday, hitting $146.75. 9,218,508 shares of the company's stock were exchanged, compared to its average volume of 5,413,915. 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 firm's 50-day moving average price is $133.43 and its two-hundred day moving average price is $127.54. The firm has a market cap of $196.05 billion, a price-to-earnings ratio of 43.04, a P/E/G ratio of 2.65 and a beta of 0.63. RTX Corporation has a fifty-two week low of $99.07 and a fifty-two week high of $149.26.

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

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.68 per share. This is a positive change from RTX's previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.85%. RTX's payout ratio is 79.77%.

Analysts Set New Price Targets

RTX has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Royal Bank Of Canada decreased their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, UBS Group upped their price target on shares of RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $159.82.

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.