TIAA Trust National Association Has $15.29 Million Stake in RTX Corporation (NYSE:RTX)

Key Points

• TIAA Trust National Association reduced its stake in RTX Corporation by 1.5%, holding 115,449 shares valued at approximately $15.29 million as of its latest SEC filing.
• RTX reported $1.56 EPS for the recent quarter, surpassing estimates and demonstrating a 9.4% year-over-year revenue increase to $21.58 billion.
• Analysts have set a consensus target price of $158.67 for RTX, with several institutions recently upgrading their ratings or price targets for the stock.

TIAA Trust National Association lowered its position in RTX Corporation (NYSE:RTX - Free Report) by 1.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 115,449 shares of the company's stock after selling 1,754 shares during the period. TIAA Trust National Association's holdings in RTX were worth $15,292,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. MorganRosel Wealth Management LLC bought a new stake in shares of RTX in the 1st quarter valued at $26,000. 10Elms LLP bought a new stake in shares of RTX in the 4th quarter valued at $29,000. Greenline Partners LLC bought a new stake in shares of RTX in the 4th quarter valued at $34,000. Mpwm Advisory Solutions LLC bought a new stake in shares of RTX in the 4th quarter valued at $43,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of RTX in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Performance

NYSE RTX opened at $156.92 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 firm has a market cap of $210.04 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.89 and a beta of 0.68. The company has a fifty day moving average price of $145.69 and a 200-day moving average price of $134.31.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same quarter in the prior year, the business posted $1.41 EPS. The business's revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict 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 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 dividend on an annualized basis and a dividend yield of 1.7%. RTX's dividend payout ratio (DPR) is currently 59.78%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Barclays lifted their price objective on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research note on Monday, July 21st. Bank of America boosted their price target on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research note on Wednesday, May 14th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Activity at RTX

In related news, 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 transaction, the vice president directly owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the transaction, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,234 shares of company stock valued at $4,439,755 over the last quarter. Corporate insiders own 0.15% of the company's stock.

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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