Nuveen LLC Purchases New Stake in RTX Corporation (NYSE:RTX)

Key Points

• Nuveen LLC acquired a new stake in RTX Corporation, purchasing approximately 6.92 million shares valued at around $916 million, representing about 0.52% ownership as of the latest SEC filing.
• RTX reported a quarterly earnings per share of $1.56, exceeding analysts' expectations by $0.11, with revenue reaching $21.58 billion, showing a 9.4% increase year-over-year.
• The company announced a quarterly dividend of $0.68 per share, reflecting an annualized dividend of $2.72 and a yield of 1.8%, with a payout ratio of approximately 59.78%.

Nuveen LLC purchased a new stake in RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,920,877 shares of the company's stock, valued at approximately $916,739,000. Nuveen LLC owned about 0.52% of RTX as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Guardian Wealth Advisors LLC NC grew its position in RTX by 1.7% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after acquiring an additional 82 shares during the period. Foster Victor Wealth Advisors LLC boosted its position in shares of RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after buying an additional 82 shares during the period. Weatherly Asset Management L. P. boosted its position in shares of RTX by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock worth $2,767,000 after buying an additional 82 shares during the period. CLG LLC boosted its position in shares of RTX by 2.3% during the first quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after buying an additional 83 shares during the period. Finally, Lcnb Corp boosted its position in shares of RTX by 1.2% during the first quarter. Lcnb Corp now owns 7,117 shares of the company's stock worth $943,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Down 0.5%

RTX stock opened at $154.98 on Friday. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $158.79. 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 stock has a market cap of $207.45 billion, a PE ratio of 34.06, a P/E/G ratio of 2.85 and a beta of 0.69. The stock's fifty day moving average is $147.87 and its two-hundred day moving average is $135.46.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same period last year, the firm earned $1.41 earnings per share. RTX's quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.8%. RTX's dividend payout ratio (DPR) is currently 59.78%.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 sale, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the sale, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. This trade represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,935 shares of company stock worth $5,938,488 over the last three months. 0.15% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on RTX. UBS Group raised their price target on RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Barclays raised their price target on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Susquehanna raised their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research report on Friday, April 25th. Finally, Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

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.

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