Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Position in RTX Corporation $RTX

Key Points

• Empirical Financial Services LLC increased its stake in RTX Corporation by 15.4%, owning 38,104 shares worth approximately $5.56 million after purchasing an additional 5,086 shares in the second quarter.
• Multiple institutional investors, such as Nuveen LLC and Goldman Sachs Group Inc., have also significantly increased their positions in RTX, contributing to 86.50% of the stock being owned by institutional investors.
• RTX reported earnings of $1.56 per share for the last quarter, exceeding estimates, with revenue of $21.58 billion, marking a 9.4% year-over-year increase.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in RTX Corporation (NYSE:RTX - Free Report) by 15.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,104 shares of the company's stock after buying an additional 5,086 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in RTX were worth $5,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of RTX during the 1st quarter valued at $916,739,000. Goldman Sachs Group Inc. lifted its position in shares of RTX by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock valued at $845,784,000 after acquiring an additional 1,394,918 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after acquiring an additional 1,357,328 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of RTX by 1,178.2% in the first quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company's stock valued at $160,588,000 after acquiring an additional 1,117,506 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of RTX in the first quarter valued at about $130,194,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the transaction, the vice president owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Troy D. Brunk sold 7,654 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total value of $1,187,900.80. Following the transaction, the insider directly owned 16,442 shares in the company, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RTX shares. Jefferies Financial Group restated a "hold" rating on shares of RTX in a research report on Monday, July 21st. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Susquehanna boosted their price objective on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein boosted their price objective on RTX from $154.00 to $157.00 and gave the company a "market perform" rating in a research report on Wednesday, September 10th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $170.00 target price (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $158.87.

RTX Trading Down 0.3%

Shares of NYSE RTX opened at $166.68 on Friday. The business's 50 day moving average is $157.98 and its two-hundred day moving average is $143.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $168.28. The stock has a market capitalization of $223.11 billion, a P/E ratio of 36.63, a PEG ratio of 3.08 and a beta of 0.66.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Company 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.

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