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

Empowered Funds LLC cut its position in RTX Co. (NYSE:RTX) by 38.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,406 shares of the company’s stock after selling 50,004 shares during the quarter. Empowered Funds LLC’s holdings in RTX were worth $9,742,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RTX. Capital Research Global Investors increased its stake in shares of RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after purchasing an additional 3,761,246 shares during the last quarter. Capital International Investors boosted its stake in RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after buying an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC grew its position in RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after acquiring an additional 213,331 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of RTX by 4.4% in the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after acquiring an additional 362,340 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research analyst reports. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Robert W. Baird boosted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Melius Research lifted their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group lifted their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $177.27.

RTX Price Performance

Shares of RTX opened at $118.53 on Friday. The firm has a market cap of $157.76 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The business’s 50 day moving average price is $122.20 and its two-hundred day moving average price is $113.39. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the previous year, the company earned $1.25 EPS. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 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.