Smartleaf Asset Management LLC Raises Stock Holdings in RTX Corporation $RTX

Key Points

• Smartleaf Asset Management LLC increased its holdings in RTX Corporation by 26.4%, totaling approximately $1.77 million worth of shares.
• In recent analyst ratings, RTX received upgrades from Benchmark and JPMorgan, with price targets rising to $175.00 and an average rating of "Moderate Buy."
• RTX recently announced a quarterly dividend of $0.68 per share, reflecting a dividend yield of 1.7% and an annualized payout of $2.72.

Smartleaf Asset Management LLC grew its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 26.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,432 shares of the company's stock after buying an additional 2,802 shares during the period. Smartleaf Asset Management LLC's holdings in RTX were worth $1,769,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in shares of RTX during the 1st quarter valued at about $26,000. 10Elms LLP purchased a new position in shares of RTX during the 4th quarter valued at about $29,000. Greenline Partners LLC purchased a new position in RTX in the 4th quarter worth approximately $34,000. Summit Securities Group LLC purchased a new position in RTX in the 1st quarter worth approximately $40,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in RTX in the 4th quarter worth approximately $43,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RTX news, insider Troy D. Brunk sold 7,654 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total value of $1,187,900.80. Following the transaction, the insider owned 16,442 shares of the company's stock, valued at $2,551,798.40. This represents a 31.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the transaction, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. This trade represents a 22.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,589 shares of company stock worth $7,126,389 over the last ninety days. Corporate insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RTX shares. Morgan Stanley boosted their price target on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Susquehanna boosted their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 price target on RTX and gave the stock a "market perform" rating in a report on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Barclays lifted their price objective on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

RTX Trading Up 0.6%

Shares of NYSE RTX traded up $0.92 during trading hours on Thursday, hitting $160.76. 3,068,984 shares of the company traded hands, compared to its average volume of 5,206,267. The stock has a market capitalization of $215.18 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 2.94 and a beta of 0.69. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company's 50 day moving average price is $151.66 and its 200 day moving average price is $137.96. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $161.26.

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, beating the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.RTX's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm 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 $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. RTX's dividend payout ratio is 59.78%.

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.