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

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in RTX Co. (NYSE:RTX) by 17.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,737 shares of the company’s stock after purchasing 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 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new stake in RTX in the fourth quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new position in RTX during the 3rd quarter worth approximately $28,000. Planned Solutions Inc. acquired a new stake in shares of RTX in the 4th quarter valued at approximately $30,000. Financial Gravity Asset Management Inc. boosted its stake in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after acquiring an additional 127 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction 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 sale, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Insiders sold a total of 135,618 shares of company stock worth $13,397,978 over the last quarter. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RTX. UBS Group boosted their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Bank of America lifted their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Citigroup boosted their price objective on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $96.93.

RTX Stock Up 0.3 %

NYSE RTX traded up $0.28 on Wednesday, reaching $103.51. The company had a trading volume of 878,954 shares, compared to its average volume of 8,015,381. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89. The firm has a market capitalization of $137.62 billion, a price-to-earnings ratio of 40.48, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The company’s fifty day moving average is $97.20 and its 200-day moving average is $89.11.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the firm earned $1.22 earnings per share. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts forecast that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.43%. This is an increase from RTX’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s payout ratio is currently 92.55%.

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.