Empirical Finance LLC Has $5.91 Million Stake in RTX Co. (NYSE:RTX)

Empirical Finance LLC increased its holdings in shares of RTX Co. (NYSE:RTX) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,766 shares of the company’s stock after acquiring an additional 721 shares during the period. Empirical Finance LLC’s holdings in RTX were worth $5,908,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Manning & Napier Advisors LLC bought a new position in shares of RTX in the second quarter valued at about $30,837,000. O Shaughnessy Asset Management LLC raised its stake in shares of RTX by 126.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after acquiring an additional 98,248 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after purchasing an additional 11,354 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of RTX during the third quarter valued at approximately $953,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of RTX by 36.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock valued at $44,250,000 after purchasing an additional 97,749 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RTX has been the topic of several research reports. Wells Fargo & Company cut their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. UBS Group raised their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Melius Research upped their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Barclays raised their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada upped their price objective on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $177.27.

RTX Price Performance

Shares of RTX opened at $118.15 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market capitalization of $157.26 billion, a PE ratio of 33.98, a P/E/G ratio of 2.19 and a beta of 0.82. The stock has a 50 day simple moving average of $122.20 and a 200 day simple moving average of $113.28. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70.

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

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. 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.