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

Key Points

• Kovitz Investment Group Partners LLC increased its stake in RTX Corporation by 27.3%, owning 984,189 shares valued at approximately $130.37 million.
• Analysts have upgraded their ratings and price targets for RTX, with Susquehanna and UBS Group raising their price objectives to $175.00 and $177.00, respectively.
• RTX recently announced a quarterly dividend of $0.68 per share, with a 1.7% dividend yield and a payout ratio of 59.78%.

Kovitz Investment Group Partners LLC raised its position in RTX Corporation (NYSE:RTX - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 984,189 shares of the company's stock after buying an additional 210,826 shares during the period. Kovitz Investment Group Partners LLC owned 0.07% of RTX worth $130,366,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX during the 1st quarter worth approximately $26,000. 10Elms LLP purchased a new stake in shares of RTX during the 4th quarter worth approximately $29,000. Greenline Partners LLC purchased a new stake in shares of RTX during the 4th quarter worth approximately $34,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of RTX during the 4th quarter worth approximately $43,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of RTX during the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RTX. Susquehanna lifted their price objective on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. UBS Group lifted their price objective on shares of RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $170.00 price objective (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, DZ Bank upgraded shares of 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. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, RTX currently has an average rating of "Moderate Buy" and an average target price of $158.67.

Insider Activity at RTX

In other news, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the sale, the insider directly owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. The trade was a 31.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,589 shares of company stock worth $7,126,389 in the last three months. 0.15% of the stock is owned by insiders.

RTX Stock Up 0.0%

Shares of NYSE:RTX opened at $155.53 on Thursday. The firm has a fifty day moving average price of $148.92 and a two-hundred day moving average price of $136.01. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a one year low of $112.27 and a one year high of $158.79. The company has a market cap of $208.18 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 2.86 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping 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 company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the previous year, the firm posted $1.41 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 1.7%. RTX's dividend payout ratio 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.

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