Todd Asset Management LLC Has $30.47 Million Stake in RTX Corporation (NYSE:RTX)

Key Points

• Todd Asset Management LLC increased its stake in RTX Corporation by 20.8%, acquiring 39,539 shares during the first quarter, bringing its total holdings to approximately $30.47 million.
• RTX Corporation reported earnings of $1.56 per share for the last quarter, exceeding analysts' estimates, and experienced a 9.4% increase in revenue year-over-year, totaling $21.58 billion.
• The company has declared a quarterly dividend of $0.68 per share, reflecting an annualized dividend yield of 1.8%, with the next payment scheduled for September 4th.

Todd Asset Management LLC raised its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 20.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 230,000 shares of the company's stock after buying an additional 39,539 shares during the quarter. Todd Asset Management LLC's holdings in RTX were worth $30,466,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of RTX. MorganRosel Wealth Management LLC bought a new position in RTX during the first quarter worth about $26,000. 10Elms LLP bought a new position in RTX during the fourth quarter worth about $29,000. Greenline Partners LLC bought a new position in RTX during the fourth quarter worth about $34,000. Mpwm Advisory Solutions LLC bought a new position in RTX during the fourth quarter worth about $43,000. Finally, McClarren Financial Advisors Inc. bought a new position in RTX during the first quarter worth about $44,000. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday, July 21st. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a report on Wednesday, May 14th. JPMorgan Chase & Co. increased their target price on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group increased their target price on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Finally, Susquehanna increased their target price on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.67.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX 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 sale, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. This trade represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,589 shares of company stock worth $7,126,389 in the last 90 days. Corporate insiders own 0.15% of the company's stock.

RTX Stock Performance

NYSE:RTX traded down $0.46 during mid-day trading on Thursday, hitting $155.25. The stock had a trading volume of 2,766,474 shares, compared to its average volume of 5,317,934. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79. The stock has a market cap of $207.81 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 2.86 and a beta of 0.69. The company's 50 day simple moving average is $148.92 and its 200 day simple moving average is $136.01. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the prior year, the business earned $1.41 EPS. RTX's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

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 paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. RTX's dividend payout ratio (DPR) is currently 59.78%.

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.