Laffer Tengler Investments Inc. Sells 3,451 Shares of RTX Corporation $RTX

Key Points

• Laffer Tengler Investments Inc. reduced its position in RTX Corporation by 4.2%, now holding 78,966 shares valued at $10,460,000, making it the firm's 10th largest holding.
• RTX reported a quarterly EPS of $1.56, exceeding estimates, with revenue of $21.58 billion, marking a 9.4% increase year-over-year.
• The company announced a quarterly dividend of $0.68 per share, resulting in an annualized yield of 1.7%, with a dividend payout ratio of 59.78%.

Laffer Tengler Investments Inc. lowered its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,966 shares of the company's stock after selling 3,451 shares during the quarter. RTX comprises about 2.2% of Laffer Tengler Investments Inc.'s investment portfolio, making the stock its 10th biggest position. Laffer Tengler Investments Inc.'s holdings in RTX were worth $10,460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. MorganRosel Wealth Management LLC bought a new position in RTX in the 1st quarter worth $26,000. 10Elms LLP bought a new position in RTX in the 4th quarter worth $29,000. Greenline Partners LLC bought a new position in RTX in the 4th quarter worth $34,000. Summit Securities Group LLC bought a new position in RTX in the 1st quarter worth $40,000. Finally, Mpwm Advisory Solutions LLC bought a new position in RTX in the 4th quarter worth $43,000. Institutional investors own 86.50% of the company's stock.

Wall Street Analyst Weigh In

RTX has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Barclays lifted their target price on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. The Goldman Sachs Group lifted their target price on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Susquehanna raised their price target on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Finally, Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $158.67.

Insider Buying and Selling at RTX

In other news, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the sale, the vice president owned 30,004 shares in the company, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,589 shares of company stock worth $7,126,389 in the last 90 days. 0.15% of the stock is currently owned by insiders.

RTX Price Performance

Shares of RTX stock traded down $0.0530 during trading on Friday, hitting $156.2670. 4,250,914 shares of the company's stock traded hands, compared to its average volume of 4,010,900. 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's fifty day moving average price is $150.96 and its 200 day moving average price is $137.46. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79. The company has a market cap of $209.17 billion, a PE ratio of 34.34, a PEG ratio of 2.88 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating 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 business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the previous year, the business earned $1.41 EPS. The firm's revenue was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.7%. RTX's dividend payout ratio (DPR) is currently 59.78%.

RTX 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.