Laffer Tengler Investments Inc. Increases Stake in RTX Co. (NYSE:RTX)

Laffer Tengler Investments Inc. increased its holdings in RTX Co. (NYSE:RTX) by 18.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,417 shares of the company’s stock after acquiring an additional 12,788 shares during the quarter. RTX makes up about 1.9% of Laffer Tengler Investments Inc.’s investment portfolio, making the stock its 14th largest position. Laffer Tengler Investments Inc.’s holdings in RTX were worth $9,537,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. raised its stake in RTX by 36.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after buying an additional 97,749 shares in the last quarter. PDS Planning Inc increased its holdings in shares of RTX by 10.3% in the 3rd quarter. PDS Planning Inc now owns 5,370 shares of the company’s stock valued at $651,000 after acquiring an additional 503 shares during the period. ASB Consultores LLC raised its position in shares of RTX by 35.4% in the 3rd quarter. ASB Consultores LLC now owns 4,542 shares of the company’s stock worth $550,000 after acquiring an additional 1,187 shares in the last quarter. United Advisor Group LLC lifted its stake in shares of RTX by 11.1% during the 3rd quarter. United Advisor Group LLC now owns 4,452 shares of the company’s stock worth $539,000 after purchasing an additional 445 shares during the last quarter. Finally, Pittenger & Anderson Inc. boosted its position in RTX by 0.3% during the third quarter. Pittenger & Anderson Inc. now owns 45,232 shares of the company’s stock valued at $5,480,000 after purchasing an additional 125 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on RTX. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Susquehanna increased their price objective on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada boosted their target price on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $163.40.

Insider Buying and Selling

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 over the last ninety days. Company insiders own 0.13% of the company’s stock.

RTX Stock Performance

RTX opened at $128.66 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $89.44 and a 12-month high of $135.36. The firm has a 50 day moving average of $123.30 and a two-hundred day moving average of $121.59. The firm has a market capitalization of $171.40 billion, a PE ratio of 36.24, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. RTX’s payout ratio is 70.99%.

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.