Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stake in RTX Co. (NYSE:RTX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in RTX Co. (NYSE:RTX) by 17.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,737 shares of the company’s stock after acquiring an additional 2,059 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in RTX were worth $1,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Jacobsen Capital Management lifted its holdings in RTX by 3.0% in the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after purchasing an additional 114 shares in the last quarter. Diligent Investors LLC raised its holdings in RTX by 1.4% in the 4th quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock valued at $739,000 after acquiring an additional 118 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in shares of RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares during the last quarter. Kerntke Otto McGlone Wealth Management Group increased its holdings in shares of RTX by 2.1% in the fourth quarter. Kerntke Otto McGlone Wealth Management Group now owns 6,108 shares of the company’s stock valued at $514,000 after purchasing an additional 128 shares during the last quarter. Finally, Dempze Nancy E boosted its position in shares of RTX by 0.5% during the 3rd quarter. Dempze Nancy E now owns 28,829 shares of the company’s stock valued at $2,075,000 after acquiring an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was 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 approximately $64,592,832.96. The disclosure for this sale can be found here. Insiders have sold a total of 135,618 shares of company stock worth $13,397,978 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Up 0.3 %

Shares of RTX stock traded up $0.28 during trading hours on Wednesday, reaching $103.51. The company had a trading volume of 878,954 shares, compared to its average volume of 8,015,381. The company has a market capitalization of $137.62 billion, a P/E ratio of 40.48, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The stock’s fifty day simple moving average is $97.20 and its 200 day simple moving average is $89.11. RTX Co. has a twelve month low of $68.56 and a twelve month high of $103.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

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

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.43%. This is a positive change from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio (DPR) is 92.55%.

Analysts Set New Price Targets

RTX has been the topic of a number of research reports. Susquehanna increased their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Wells Fargo & Company restated an “overweight” rating and set a $120.00 price target on shares of RTX in a research note on Monday, April 1st. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada upped their price target on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $96.93.

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.