Nisa Investment Advisors LLC Lowers Stock Holdings in RTX Corporation (NYSE:RTX)

Nisa Investment Advisors LLC trimmed its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 38.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 383,356 shares of the company's stock after selling 235,818 shares during the quarter. Nisa Investment Advisors LLC's holdings in RTX were worth $50,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in RTX. Norges Bank bought a new stake in shares of RTX in the fourth quarter valued at about $1,745,644,000. GAMMA Investing LLC raised its holdings in shares of RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after acquiring an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after acquiring an additional 3,164,844 shares in the last quarter. Invesco Ltd. raised its holdings in shares of RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock valued at $1,175,457,000 after acquiring an additional 1,522,251 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Royal Bank Of Canada dropped their target price on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. UBS Group upped their target price on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company boosted their price target on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Four 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $161.12.

Insider Activity

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

RTX Trading Up 0.3%

RTX stock traded up $0.40 during midday trading on Friday, reaching $146.80. 3,468,750 shares of the stock traded hands, compared to its average volume of 5,283,474. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $196.12 billion, a PE ratio of 43.05, a price-to-earnings-growth ratio of 2.73 and a beta of 0.64. The company has a 50-day simple moving average of $139.16 and a two-hundred day simple moving average of $130.40. RTX Corporation has a 12-month low of $101.52 and a 12-month high of $149.26.

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

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.85%. RTX's dividend payout ratio (DPR) is presently 79.77%.

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.