ARGA Investment Management LP Buys 2,303 Shares of RTX Co. (NYSE:RTX)

ARGA Investment Management LP grew its stake in shares of RTX Co. (NYSE:RTX) by 22.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,528 shares of the company’s stock after acquiring an additional 2,303 shares during the quarter. ARGA Investment Management LP’s holdings in RTX were worth $1,450,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RTX. MidAtlantic Capital Management Inc. bought a new stake in RTX during the third quarter worth about $29,000. Modus Advisors LLC bought a new stake in shares of RTX during the 4th quarter worth approximately $39,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX during the 3rd quarter worth approximately $41,000. ORG Wealth Partners LLC acquired a new stake in shares of RTX during the 3rd quarter worth approximately $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after acquiring an additional 86 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Down 1.2 %

Shares of RTX opened at $128.42 on Wednesday. The company has a market capitalization of $170.93 billion, a PE ratio of 36.18, a PEG ratio of 2.17 and a beta of 0.82. The stock’s 50-day moving average price is $119.52 and its two-hundred day moving average price is $119.77. 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 $88.90 and a 12 month high of $132.43.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, analysts anticipate that RTX Co. will post 6.12 EPS for the current year.

RTX Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RTX. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. UBS Group raised their price objective on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Susquehanna boosted their target price on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Morgan Stanley raised their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

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.