Empower Advisory Group LLC Acquires 1,442 Shares of RTX Co. (NYSE:RTX)

Empower Advisory Group LLC increased its holdings in shares of RTX Co. (NYSE:RTX) by 31.9% during the third quarter, HoldingsChannel reports. The firm owned 5,968 shares of the company’s stock after buying an additional 1,442 shares during the period. Empower Advisory Group LLC’s holdings in RTX were worth $723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Elgethun Capital Management increased its holdings in shares of RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after purchasing an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its holdings in RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after buying an additional 86 shares during the period. Blackston Financial Advisory Group LLC increased its holdings in RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after buying an additional 86 shares during the period. Canal Capital Management LLC raised its position in RTX by 2.1% during the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after buying an additional 87 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC boosted its holdings in shares of RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after acquiring an additional 89 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RTX shares. Robert W. Baird upped their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a report on Tuesday, July 30th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company lowered their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $177.27.

RTX Price Performance

RTX stock opened at $118.92 on Friday. The company has a fifty day simple moving average of $122.20 and a 200-day simple moving average of $113.28. The firm has a market capitalization of $158.28 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.18 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. 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 data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. On average, equities analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) 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.