RTX Corporation (NYSE:RTX) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of RTX Corporation (NYSE:RTX) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 320,035 shares of the company’s stock after acquiring an additional 5,175 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RTX were worth $42,392,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after acquiring an additional 1,000,722 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after acquiring an additional 603,159 shares in the last quarter. Northern Trust Corp increased its holdings in shares of RTX by 8.4% during the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company’s stock valued at $1,494,257,000 after acquiring an additional 997,806 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after acquiring an additional 3,164,844 shares in the last quarter. Finally, Invesco Ltd. boosted its position in RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock valued at $1,175,457,000 after buying an additional 1,522,251 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Up 1.1%

RTX stock opened at $156.86 on Monday. The stock has a market capitalization of $209.96 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $157.33. The business has a 50 day simple moving average of $143.48 and a 200-day simple moving average of $133.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 earnings per share. On average, analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.73%. RTX’s dividend payout ratio (DPR) is presently 59.78%.

Analyst Ratings Changes

A number of equities research analysts recently commented on RTX shares. Sanford C. Bernstein set a $154.00 target price on RTX and gave the company a “market perform” rating in a research report on Friday, July 11th. Citigroup upped their target price on RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, July 14th. UBS Group upped their target price on RTX from $166.00 to $177.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Cowen reiterated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Finally, Morgan Stanley upped their target price on RTX from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $155.69.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president directly owned 9,546 shares of the company’s stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,530 shares of company stock worth $3,080,191 over the last three months. 0.15% of the stock is currently owned by corporate insiders.

About RTX

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.