Callan Family Office LLC Cuts Stake in RTX Corporation (NYSE:RTX)

Key Points

• Callan Family Office LLC reduced its stake in RTX Corporation by 10.2%, owning 37,247 shares after selling 4,220 shares, with holdings valued at approximately $4.93 million at the end of Q1.
• RTX Corporation announced a quarterly dividend of $0.68 per share, which will be paid on September 4th, representing an annualized yield of 1.8%.
• During its latest earnings report, RTX posted a EPS of $1.56, exceeding analysts' expectations and achieving a revenue of $21.58 billion, marking a 9.4% increase year-over-year.

Callan Family Office LLC reduced its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,247 shares of the company's stock after selling 4,220 shares during the period. Callan Family Office LLC's holdings in RTX were worth $4,934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in RTX during the 1st quarter worth approximately $26,000. 10Elms LLP acquired a new position in RTX during the 4th quarter worth approximately $29,000. Greenline Partners LLC acquired a new position in RTX during the 4th quarter worth approximately $34,000. McClarren Financial Advisors Inc. acquired a new position in RTX during the 1st quarter worth approximately $44,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in RTX during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Down 0.0%

Shares of NYSE:RTX opened at $154.84 on Tuesday. The stock has a market cap of $207.25 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.85 and a beta of 0.69. The firm has a fifty day moving average price of $148.22 and a 200 day moving average price of $135.73. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $158.79.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. RTX's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 EPS. Sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders 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 yield of 1.8%. RTX's payout ratio is currently 59.78%.

Analyst Ratings Changes

RTX has been the subject of several analyst reports. Morgan Stanley boosted their price target on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Citigroup upped their target price on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Sanford C. Bernstein set a $154.00 target price on shares of RTX and gave the company a "market perform" rating in a report on Friday, July 11th. The Goldman Sachs Group upped their target price on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. Finally, Wells Fargo & Company upped their target price on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the transaction, the insider owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. The trade was a 42.08% 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 in the last 90 days. 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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