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

Key Points

• Empirical Wealth Management increased its stake in RTX Corporation by 89.2%, holding a total of 33,018 shares valued at approximately $4.37 million after purchasing an additional 15,567 shares.
• RTX reported $1.56 EPS for the quarter, exceeding analysts' expectations, with revenues of $21.58 billion, up 9.4% from the previous year.
• The company announced a quarterly dividend of $0.68, representing an annual yield of 1.7%, with a payout ratio of approximately 59.78%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 89.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,018 shares of the company's stock after purchasing an additional 15,567 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in RTX were worth $4,374,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Guardian Wealth Advisors LLC NC boosted its holdings in RTX by 1.7% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock valued at $576,000 after acquiring an additional 82 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in RTX by 2.1% in the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock valued at $505,000 after acquiring an additional 82 shares during the last quarter. Weatherly Asset Management L. P. boosted its holdings in RTX by 0.4% in the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock valued at $2,767,000 after acquiring an additional 82 shares during the last quarter. CLG LLC boosted its holdings in RTX by 2.3% in the first quarter. CLG LLC now owns 3,686 shares of the company's stock valued at $488,000 after acquiring an additional 83 shares during the last quarter. Finally, 49 Wealth Management LLC boosted its holdings in RTX by 3.3% in the fourth quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock valued at $302,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX stock opened at $157.51 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average of $145.20 and a two-hundred day moving average of $133.94. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79. The company has a market cap of $210.83 billion, a P/E ratio of 34.62, a PEG ratio of 2.92 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. RTX's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's payout ratio is currently 59.78%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group lifted their target price on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $170.00 price objective (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Bank of America boosted their price objective on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, RTX has a consensus rating of "Moderate Buy" and an average target price of $158.67.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the business'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 value 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,234 shares of company stock valued at $4,439,755. Corporate insiders own 0.15% of the company's stock.

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.

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