Empowered Funds LLC Boosts Holdings in RTX Co. (NYSE:RTX)

Empowered Funds LLC raised its holdings in shares of RTX Co. (NYSE:RTX) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,372 shares of the company’s stock after purchasing an additional 3,966 shares during the period. Empowered Funds LLC’s holdings in RTX were worth $9,764,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in RTX in the third quarter valued at about $29,000. Modus Advisors LLC purchased a new position in shares of RTX in the 4th quarter valued at approximately $39,000. Western Pacific Wealth Management LP acquired a new stake in RTX in the 3rd quarter worth approximately $41,000. Iron Horse Wealth Management LLC grew its position in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in RTX during the 3rd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

NYSE:RTX opened at $128.07 on Monday. The stock has a market capitalization of $170.60 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average price is $119.99 and its 200-day moving average price is $120.28.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.97%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RTX. Morgan Stanley boosted their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Barclays boosted their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Bank of America lifted their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Royal Bank of Canada increased their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

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.