Empowered Funds LLC Sells 50,004 Shares of RTX Co. (NYSE:RTX)

Empowered Funds LLC lowered its stake in RTX Co. (NYSE:RTX - Free Report) by 38.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,406 shares of the company's stock after selling 50,004 shares during the period. Empowered Funds LLC's holdings in RTX were worth $9,742,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Empirical Finance LLC lifted its stake in RTX by 1.5% during the third quarter. Empirical Finance LLC now owns 48,766 shares of the company's stock valued at $5,908,000 after buying an additional 721 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its position in shares of RTX by 4.5% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 7,388 shares of the company's stock valued at $895,000 after acquiring an additional 321 shares in the last quarter. Black Diamond Financial LLC boosted its stake in RTX by 15.8% in the 3rd quarter. Black Diamond Financial LLC now owns 3,263 shares of the company's stock worth $395,000 after purchasing an additional 444 shares during the period. CIBC Asset Management Inc grew its position in RTX by 6.8% during the 3rd quarter. CIBC Asset Management Inc now owns 246,986 shares of the company's stock worth $29,925,000 after purchasing an additional 15,756 shares in the last quarter. Finally, Omnia Family Wealth LLC raised its stake in RTX by 9.1% during the 3rd quarter. Omnia Family Wealth LLC now owns 2,416 shares of the company's stock valued at $293,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company decreased their target price on RTX from $491.00 to $467.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 24th. Bank of America raised RTX from a "neutral" rating to a "buy" rating and lifted their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on RTX from $110.00 to $130.00 and gave the company an "overweight" rating in a report on Monday, July 29th. Citigroup raised their price target on shares of RTX from $122.00 to $132.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Finally, Barclays upped their price objective on shares of RTX from $108.00 to $130.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, RTX has a consensus rating of "Hold" and an average target price of $177.27.

RTX Stock Up 0.2 %

NYSE RTX traded up $0.24 during trading on Friday, hitting $118.53. 6,970,495 shares of the company traded hands, compared to its average volume of 6,669,619. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70. The business has a fifty day simple moving average of $122.20 and a 200 day simple moving average of $113.47. The company has a market capitalization of $157.77 billion, a P/E ratio of 33.87, a PEG ratio of 2.19 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. As a group, sell-side analysts predict that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, November 15th. RTX's dividend payout ratio is currently 72.00%.

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.