Nissay Asset Management Corp Japan ADV Boosts Stake in RTX Corporation $RTX

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in RTX Corporation by 1.3%, bringing its total holdings to 164,694 shares valued at approximately $21.8 million.
• Recent analyst ratings for RTX have been positive, with Citigroup raising its target price from $148 to $182 and a consensus rating of "Moderate Buy" from market analysts.
• RTX announced a quarterly dividend of $0.68 per share, resulting in an annualized yield of 1.7% and a payout ratio of 59.78%.

Nissay Asset Management Corp Japan ADV grew its stake in RTX Corporation (NYSE:RTX - Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,694 shares of the company's stock after purchasing an additional 2,109 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in RTX were worth $21,815,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new stake in RTX during the first quarter worth $26,000. 10Elms LLP bought a new stake in RTX during the fourth quarter worth $29,000. Greenline Partners LLC bought a new stake in RTX during the fourth quarter worth $34,000. Summit Securities Group LLC bought a new stake in RTX during the first quarter worth $40,000. Finally, McClarren Financial Advisors Inc. bought a new stake in RTX during the first quarter worth $44,000. Institutional investors own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RTX. Bank of America lifted their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $170.00 price target (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. The Goldman Sachs Group lifted their price target on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Citigroup lifted their price target on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

Insider Buying and Selling

In other news, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the transaction, the insider directly owned 17,684 shares in the company, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of RTX stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The disclosure for this sale can be found here. Insiders sold 56,635 shares of company stock valued at $8,947,010 in the last 90 days. Corporate insiders own 0.15% of the company's stock.

RTX Stock Performance

NYSE:RTX traded down $1.01 during trading hours on Friday, reaching $157.67. The stock had a trading volume of 4,044,970 shares, compared to its average volume of 3,373,661. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The stock has a 50 day simple moving average of $153.69 and a 200 day simple moving average of $139.75. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $161.26. The stock has a market cap of $211.04 billion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.90 and a beta of 0.67.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the business posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, research analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were given a $0.68 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. RTX's payout ratio is 59.78%.

RTX Company 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.