Convergence Investment Partners LLC Cuts Holdings in RTX Co. (NYSE:RTX)

Convergence Investment Partners LLC reduced its position in RTX Co. (NYSE:RTX) by 33.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,546 shares of the company’s stock after selling 7,719 shares during the period. Convergence Investment Partners LLC’s holdings in RTX were worth $1,799,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RTX. Avestar Capital LLC raised its position in RTX by 0.6% in the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after purchasing an additional 85 shares during the period. Arbor Wealth Advisors LLC raised its position in RTX by 3.7% in the fourth quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock valued at $276,000 after purchasing an additional 85 shares during the period. Moloney Securities Asset Management LLC grew its stake in shares of RTX by 0.7% during the fourth quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock valued at $1,481,000 after acquiring an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of RTX by 20.1% during 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 in the last quarter. Finally, Blackston Financial Advisory Group LLC grew its stake in shares of RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after acquiring an additional 86 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on RTX shares. Deutsche Bank Aktiengesellschaft upgraded 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 research note on Thursday, January 2nd. Wells Fargo & Company lifted their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. UBS Group lifted their price target on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.07.

RTX Price Performance

Shares of NYSE:RTX opened at $123.52 on Wednesday. RTX Co. has a 12 month low of $88.90 and a 12 month high of $132.43. The stock has a market cap of $164.54 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 2.06 and a beta of 0.82. The stock’s 50 day moving average price is $121.03 and its 200 day moving average price is $120.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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%. Equities research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.

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.