Empowered Funds LLC Sells 2,029 Shares of RTX Corporation $RTX

Key Points

• Empowered Funds LLC sold 2,029 shares of RTX Corporation, reducing its stake by 2.4% and holding 82,343 shares valued at $10.91 million.
• Multiple institutional investors increased their positions in RTX, with Brighton Jones LLC raising its stake by 24.3% and Janus Henderson Group PLC by 19.5% in the last quarter.
• RTX reported a quarterly earnings per share of $1.56, outperforming analysts' expectations, alongside a dividend of $0.68 yielding 1.8% annually.

Empowered Funds LLC decreased its stake in RTX Corporation (NYSE:RTX - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,343 shares of the company's stock after selling 2,029 shares during the period. Empowered Funds LLC's holdings in RTX were worth $10,907,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC increased its position in shares of RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after purchasing an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after buying an additional 159 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of RTX by 19.5% in the fourth quarter. Janus Henderson Group PLC now owns 1,166,464 shares of the company's stock valued at $134,993,000 after buying an additional 189,937 shares in the last quarter. Logan Capital Management Inc. increased its holdings in RTX by 2.9% during the fourth quarter. Logan Capital Management Inc. now owns 22,193 shares of the company's stock worth $2,568,000 after buying an additional 619 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in RTX by 16.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 648,049 shares of the company's stock worth $74,992,000 after acquiring an additional 93,086 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of analyst reports. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a research report on Monday, July 21st. The Goldman Sachs Group lifted their price target on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Morgan Stanley upped their price objective on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 price objective (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Finally, Citigroup boosted their target price on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

Insider Activity

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the transaction, the vice president directly owned 30,004 shares of the company's stock, valued at $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. Over the last 90 days, insiders have sold 56,635 shares of company stock worth $8,947,010. Insiders own 0.15% of the company's stock.

RTX Stock Performance

RTX opened at $151.84 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The business has a fifty day simple moving average of $153.99 and a 200 day simple moving average of $140.05. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $161.26. The company has a market capitalization of $203.24 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.84 and a beta of 0.67.

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

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. RTX's payout ratio is currently 59.78%.

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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