Kovitz Investment Group Partners LLC Raises Stock Position in RTX Co. (NYSE:RTX)

Kovitz Investment Group Partners LLC boosted its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 875.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 773,363 shares of the company's stock after acquiring an additional 694,080 shares during the quarter. Kovitz Investment Group Partners LLC owned about 0.06% of RTX worth $89,494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in shares of RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of RTX in the 4th quarter valued at $39,000. Millstone Evans Group LLC acquired a new stake in RTX during the 4th quarter worth $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in RTX in the fourth quarter valued at $40,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research analyst reports. StockNews.com upgraded RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. UBS Group boosted their price objective on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a research report on Wednesday, April 23rd. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and upped their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Argus raised RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $161.06.

Insiders Place Their Bets

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the business's stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,831 shares of company stock valued at $10,309,302. Company insiders own 0.15% of the company's stock.

RTX Price Performance

RTX stock traded up $0.09 during midday trading on Tuesday, hitting $124.89. 1,372,421 shares of the stock were exchanged, compared to its average volume of 5,380,728. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market cap of $166.85 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 2.11 and a beta of 0.58. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17. The stock's 50-day moving average price is $128.30 and its 200-day moving average price is $123.75.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. Research analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Friday, February 21st. RTX's payout ratio is 73.90%.

RTX 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.