Nisa Investment Advisors LLC Sells 235,818 Shares of RTX Corporation (NYSE:RTX)

Nisa Investment Advisors LLC lowered its stake in RTX Corporation (NYSE:RTX - Free Report) by 38.1% in the first quarter, according to 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC acquired a new position in shares of RTX in the first quarter valued at approximately $26,000. 10Elms LLP acquired a new position in shares of RTX in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new position in shares of RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management increased its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after buying an additional 265 shares during the period. Finally, Greenline Partners LLC acquired a new position in shares of RTX in the fourth quarter valued at approximately $34,000. Institutional investors own 86.50% of the company's stock.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 owned 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company increased their target price on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Cowen reissued a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and increased their target price for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, The Goldman Sachs Group raised their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $161.12.

RTX Stock Up 1.0%

NYSE RTX traded up $1.49 during mid-day trading on Wednesday, hitting $146.40. The company's stock had a trading volume of 2,663,751 shares, compared to its average volume of 5,313,612. The company's 50 day simple moving average is $138.04 and its 200 day simple moving average is $129.77. RTX Corporation has a twelve month low of $99.42 and a twelve month high of $149.26. 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 capitalization of $195.58 billion, a price-to-earnings ratio of 42.93, a PEG ratio of 2.64 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data 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. RTX had a return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. Analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

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 paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.86%. 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.