Convergence Investment Partners LLC Sells 7,719 Shares of RTX Co. (NYSE:RTX)

Convergence Investment Partners LLC lowered its holdings in shares of RTX Co. (NYSE:RTX) by 33.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,546 shares of the company’s stock after selling 7,719 shares during the quarter. Convergence Investment Partners LLC’s holdings in RTX were worth $1,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in RTX during the 3rd quarter valued at about $29,000. Modus Advisors LLC bought a new stake in RTX during the 4th quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in RTX during the 4th quarter valued at about $40,000. Western Pacific Wealth Management LP bought a new stake in RTX during the 3rd quarter valued at about $41,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.9 %

RTX opened at $123.52 on Wednesday. The business has a 50 day moving average price of $121.03 and a two-hundred day moving average price of $120.77. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market cap of $164.54 billion, a PE ratio of 34.79, a P/E/G ratio of 2.06 and a beta of 0.82. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, research analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Analyst Upgrades and Downgrades

A number of research firms have commented on RTX. Barclays raised their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Morgan Stanley raised their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Susquehanna lifted their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by insiders.

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.