Todd Asset Management LLC Purchases 39,539 Shares of RTX Corporation (NYSE:RTX)

Todd Asset Management LLC increased its position in shares of RTX Corporation (NYSE:RTX) by 20.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 230,000 shares of the company’s stock after purchasing 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.

Several other institutional investors and hedge funds have also bought and sold shares of RTX. Nuveen LLC bought a new position in shares of RTX in the first quarter worth about $916,739,000. GAMMA Investing LLC lifted its holdings in shares of RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock worth $551,460,000 after acquiring an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after acquiring an additional 3,164,844 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of RTX by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company’s stock worth $845,784,000 after acquiring an additional 1,394,918 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock worth $15,873,541,000 after acquiring an additional 1,357,328 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $154.98 on Monday. The company has a market capitalization of $207.45 billion, a PE ratio of 34.06, a P/E/G ratio of 2.85 and a beta of 0.69. The company has a 50 day simple moving average of $147.87 and a two-hundred day simple moving average of $135.53. 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 Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79.

RTX (NYSE:RTX) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. The business 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%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 EPS. Research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.8%. RTX’s payout ratio is 59.78%.

Insiders Place Their Bets

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the transaction, the vice president directly owned 30,004 shares in the company, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,935 shares of company stock valued at $5,938,488 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research reports. Bank of America increased their target price on shares of RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Cowen reissued a “buy” rating on shares of RTX in a report on Friday, May 23rd. The Goldman Sachs Group increased 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. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX has an average rating of “Moderate Buy” and an average price target of $158.67.

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.