Empirical Finance LLC Sells 706 Shares of RTX Co. (NYSE:RTX)

Empirical Finance LLC trimmed its position in shares of RTX Co. (NYSE:RTX) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,060 shares of the company’s stock after selling 706 shares during the quarter. Empirical Finance LLC’s holdings in RTX were worth $5,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. MidAtlantic Capital Management Inc. bought a new position in shares of RTX during the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new position in shares of RTX during the 4th quarter valued at $39,000. Western Pacific Wealth Management LP bought a new position in shares of RTX during the 3rd quarter valued at $41,000. Iron Horse Wealth Management LLC lifted its holdings in shares of RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in shares of RTX during the 3rd quarter valued at $50,000. 86.50% of the stock is owned by institutional investors.

RTX Trading Down 0.6 %

Shares of RTX stock opened at $128.07 on Friday. The firm has a market cap of $170.60 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 2.17 and a beta of 0.82. The business has a 50-day moving average price of $119.99 and a 200-day moving average price of $120.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a twelve month low of $88.90 and a twelve month high of $132.43.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. Equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

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

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RTX shares. Morgan Stanley upped their price objective on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. UBS Group upped their price objective on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Bank of America upped their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX 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.