Kovitz Investment Group Partners LLC lessened its stake in RTX Corporation (NYSE:RTX – Free Report) by 97.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,692 shares of the company’s stock after selling 739,094 shares during the period. Kovitz Investment Group Partners LLC’s holdings in RTX were worth $3,795,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in RTX. Wick Capital Partners LLC purchased a new stake in RTX during the fourth quarter valued at about $186,000. Mcguire Capital Advisors Inc. bought a new stake in RTX during the fourth quarter worth about $87,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of RTX in the 4th quarter worth about $1,039,000. Van Diest Capital LLC bought a new position in shares of RTX during the 4th quarter valued at about $221,000. Finally, Compound Planning Inc. increased its position in shares of RTX by 47.5% during the 4th quarter. Compound Planning Inc. now owns 30,010 shares of the company’s stock valued at $5,504,000 after purchasing an additional 9,667 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.
RTX Trading Up 0.3%
RTX opened at $186.07 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.02 and a debt-to-equity ratio of 0.48. RTX Corporation has a 52 week low of $140.47 and a 52 week high of $214.50. The stock has a market cap of $250.58 billion, a PE ratio of 34.91, a PEG ratio of 2.63 and a beta of 0.31. The business has a 50 day moving average of $181.86 and a 200-day moving average of $189.46.
RTX Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 22nd were given a $0.73 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from RTX’s previous quarterly dividend of $0.68. RTX’s payout ratio is currently 54.78%.
More RTX News
Here are the key news stories impacting RTX this week:
- Positive Sentiment: Analysts and market commentary highlighted RTX as a possible beneficiary of surging European defense spending, reinforcing the company’s role as a major aerospace and defense supplier. How to Invest in the Biggest European Defense Surge in Decades (RTX)
- Positive Sentiment: A separate defense-industry piece warned that the U.S. needs more munitions and that deliveries are years behind, which could support long-term demand for RTX’s defense and missile-related businesses. U.S. Military Expert Issues Grave Warning: ‘We Need More Munitions and Deliveries Are Years Behind.’ What Stocks Can Benefit?
- Positive Sentiment: Technical and valuation-focused coverage suggested RTX has established a new price floor and may be undervalued, which can encourage buying interest. RTX (RTX) Stock Could Be 13.2% Undervalued After Revenue Hit US$90.4b
- Neutral Sentiment: Several articles referenced NVIDIA’s RTX branding, high-end GPUs, or consumer laptop pricing, but these appear unrelated to RTX Corporation’s defense/aerospace operations and are unlikely to materially affect the stock.
- Negative Sentiment: Recent trading-session coverage noted RTX shares slipped in the prior session, showing some near-term volatility despite the broader defense backdrop. RTX (RTX) Stock Declines While Market Improves: Some Information for Investors
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the company. Dbs Bank upgraded RTX from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, June 10th. Weiss Ratings cut shares of RTX from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $240.00 price target on shares of RTX in a research note on Thursday, March 5th. Wells Fargo & Company assumed coverage on shares of RTX in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $200.00 price objective for the company. Finally, UBS Group cut their price objective on shares of RTX from $209.00 to $199.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.38.
About RTX
RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.
RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.
See Also
- Five stocks we like better than RTX
- Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?
- Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
- Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
- Why Kroger’s Pullback Could Be a Gift for Patient Investors
Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RTX Corporation (NYSE:RTX – Free Report).
Receive News & Ratings for RTX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RTX and related companies with MarketBeat.com's FREE daily email newsletter.
