Nvest Financial LLC Sells 1,263 Shares of RTX Co. (NYSE:RTX)

Nvest Financial LLC lessened its position in shares of RTX Co. (NYSE:RTX) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,465 shares of the company’s stock after selling 1,263 shares during the period. RTX makes up approximately 1.8% of Nvest Financial LLC’s investment portfolio, making the stock its 16th largest position. Nvest Financial LLC’s holdings in RTX were worth $2,679,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new stake in shares of RTX during the fourth quarter worth approximately $25,000. Planned Solutions Inc. acquired a new stake in shares of RTX in the fourth quarter valued at approximately $30,000. Alaska Permanent Fund Corp acquired a new stake in shares of RTX in the first quarter valued at approximately $42,000. Financial Gravity Asset Management Inc. raised its position in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of RTX in the fourth quarter valued at approximately $38,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE:RTX traded up $0.86 during trading on Tuesday, hitting $100.41. 8,083,730 shares of the company were exchanged, compared to its average volume of 7,574,484. The business’s 50 day moving average is $104.36 and its 200-day moving average is $95.92. The company has a market capitalization of $133.50 billion, a P/E ratio of 39.38, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter in the previous year, the firm posted $1.22 earnings per share. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts forecast that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.51%. RTX’s dividend payout ratio is 98.82%.

Analyst Ratings Changes

A number of research firms have recently weighed in on RTX. TD Cowen lifted their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Susquehanna boosted their price objective on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Robert W. Baird boosted their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Bank of America boosted their price objective on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company boosted their price objective on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.33.

Insider Buying and Selling

In related news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock valued at $12,256,952 over the last 90 days. 0.13% of the stock is owned by insiders.

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.