Kovitz Investment Group Partners LLC Boosts Stake in RTX Co. (NYSE:RTX)

Kovitz Investment Group Partners LLC increased its position in RTX Co. (NYSE:RTX) by 368.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 79,283 shares of the company’s stock after purchasing an additional 62,359 shares during the period. Kovitz Investment Group Partners LLC’s holdings in RTX were worth $9,606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Napa Wealth Management purchased a new stake in shares of RTX in the 3rd quarter valued at about $1,307,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after purchasing an additional 11,354 shares during the last quarter. Kennebec Savings Bank purchased a new stake in RTX during the 3rd quarter valued at approximately $953,000. Point72 Hong Kong Ltd raised its stake in RTX by 83.5% during the 3rd quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock valued at $10,032,000 after acquiring an additional 37,671 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in RTX by 36.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock valued at $44,250,000 after acquiring an additional 97,749 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Royal Bank of Canada upped their price objective on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Barclays upped their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their price objective for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Morgan Stanley boosted their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average price target of $177.27.

RTX Stock Performance

RTX opened at $117.99 on Friday. The stock’s 50 day simple moving average is $122.16 and its 200 day simple moving average is $115.09. The stock has a market cap of $157.05 billion, a P/E ratio of 33.71, a P/E/G ratio of 2.11 and a beta of 0.80. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 1-year low of $79.67 and a 1-year high of $128.70.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. As a group, equities analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

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.