Empirical Finance LLC Acquires 1,615 Shares of RTX Co. (NYSE:RTX)

Empirical Finance LLC increased its holdings in RTX Co. (NYSE:RTX) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,925 shares of the company’s stock after buying an additional 1,615 shares during the period. Empirical Finance LLC’s holdings in RTX were worth $5,162,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Research Global Investors boosted its holdings in RTX by 23.7% in the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the period. Capital International Investors raised its position in shares of RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after buying an additional 11,163,222 shares in the last quarter. Norges Bank purchased a new stake in shares of RTX during the 4th quarter valued at $690,154,000. Massachusetts Financial Services Co. MA raised its position in shares of RTX by 82.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after buying an additional 6,932,011 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of RTX by 129.9% during the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after buying an additional 2,294,908 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. UBS Group lifted their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. TD Cowen lifted their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Finally, Bank of America lifted their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $98.33.

Insider Transactions at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,937 shares of company stock worth $12,256,952. Corporate insiders own 0.13% of the company’s stock.

RTX Trading Down 0.4 %

Shares of RTX traded down $0.44 during trading hours on Friday, reaching $101.28. 5,974,621 shares of the company traded hands, compared to its average volume of 7,497,589. RTX Co. has a 12 month low of $68.56 and a 12 month high of $108.65. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The company’s fifty day moving average price is $104.24 and its two-hundred day moving average price is $96.64. The company has a market capitalization of $134.65 billion, a price-to-earnings ratio of 39.97, a price-to-earnings-growth ratio of 1.79 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the previous year, the firm posted $1.22 earnings per share. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts predict that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.49%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is currently 98.82%.

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.