RTX Corporation (NYSE:RTX) Stock Position Cut by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its position in RTX Corporation (NYSE:RTX - Free Report) by 38.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 383,356 shares of the company's stock after selling 235,818 shares during the period. Nisa Investment Advisors LLC's holdings in RTX were worth $50,779,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC raised its position in shares of RTX by 3.7% during the 4th 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 during the last quarter. Franklin Resources Inc. raised its position in shares of 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 purchasing an additional 603,159 shares during the last quarter. Norges Bank acquired a new position in shares of RTX during the 4th quarter worth about $1,745,644,000. Finally, Northern Trust Corp raised its position in shares of RTX by 8.4% during the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after purchasing an additional 997,806 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Analysts Set New Price Targets

RTX has been the subject of several analyst reports. The Goldman Sachs Group increased their price target on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Citigroup dropped their target price on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Cowen reissued a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a report on Wednesday, May 14th. Finally, Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $161.12.

RTX Trading Down 0.3%

RTX traded down $0.47 during trading on Thursday, hitting $145.71. 2,023,097 shares of the company's stock were exchanged, compared to its average volume of 5,299,423. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 1 year low of $99.42 and a 1 year high of $149.26. The stock has a 50 day moving average price of $138.45 and a 200 day moving average price of $129.89. The firm has a market cap of $194.66 billion, a P/E ratio of 42.71, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during 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%. As a group, analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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

Insider Buying and Selling at RTX

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