Banque Cantonale Vaudoise Purchases Shares of 32,365 RTX Corporation (NYSE:RTX)

Key Points

• Banque Cantonale Vaudoise has acquired 32,365 shares of RTX Corporation, worth approximately $4.29 million, during the first quarter of 2023.
• RTX has seen a series of analyst upgrades, with UBS Group raising its price target from $166.00 to $177.00 and Citigroup boosting it from $148.00 to $182.00, indicating a strong market outlook.
• The company reported a 9.4% revenue increase year-over-year, with quarterly earnings of $1.56 per share, exceeding analysts' expectations of $1.45.

Banque Cantonale Vaudoise acquired a new position in shares of RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,365 shares of the company's stock, valued at approximately $4,287,000.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after buying an additional 3,332 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after acquiring an additional 159 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of RTX during the fourth quarter worth $1,754,000. Arrowstreet Capital Limited Partnership grew its position in RTX by 51.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 262,074 shares of the company's stock valued at $30,327,000 after purchasing an additional 88,604 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in RTX by 195.0% in the fourth quarter. Schroder Investment Management Group now owns 637,058 shares of the company's stock valued at $73,402,000 after purchasing an additional 421,137 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Activity at RTX

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares of the company's stock, valued at $2,007,395.84. This trade represents a 9.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the transaction, the vice president directly owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,234 shares of company stock valued at $4,439,755. Corporate insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RTX shares. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research report on Friday, April 25th. The Goldman Sachs Group lifted their price objective on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. Barclays lifted their price objective on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research report on Tuesday. Bank of America raised their target price on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research report on Wednesday, May 14th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $158.67.

RTX Trading Down 0.4%

NYSE RTX traded down $0.59 during trading on Friday, hitting $156.98. The company had a trading volume of 2,877,017 shares, compared to its average volume of 5,386,744. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a one year low of $112.27 and a one year high of $158.79. The company has a market cap of $210.13 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 2.92 and a beta of 0.64. The company's fifty day moving average is $145.20 and its 200-day moving average is $133.94.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. RTX's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 EPS. On average, sell-side analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio (DPR) is currently 59.78%.

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.