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

ARGA Investment Management LP increased its position in RTX Co. (NYSE:RTX) by 22.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,528 shares of the company’s stock after purchasing 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 quarter.

A number of other institutional investors have also recently bought and sold shares of the business. MidAtlantic Capital Management Inc. acquired a new stake in RTX in the 3rd quarter valued at $29,000. Modus Advisors LLC acquired a new position in RTX during the fourth quarter worth $39,000. Western Pacific Wealth Management LP bought a new position in shares of RTX during the third quarter valued at $41,000. ORG Wealth Partners LLC bought a new stake in shares of RTX in the 3rd quarter worth about $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after buying an additional 86 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $128.42 on Wednesday. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The company has a market capitalization of $170.93 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 2.17 and a beta of 0.82. The company has a 50-day simple moving average of $119.52 and a 200 day simple moving average of $119.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings data 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%. On average, sell-side analysts predict that RTX Co. will post 6.12 earnings per share for the current year.

RTX Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RTX shares. Citigroup raised RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Susquehanna raised their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Morgan Stanley boosted their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Barclays increased their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $163.07.

About RTX

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.