Swiss National Bank Has $497.25 Million Position in RTX Corporation (NYSE:RTX)

Key Points

• Swiss National Bank's holdings in RTX Corporation decreased by 0.1% to approximately $497.25 million after selling 4,000 shares, with the bank now owning 3,753,981 shares.
• Analyst ratings for RTX are largely positive, with thirteen analysts issuing a buy rating and a consensus price target of $158.67, indicating strong market confidence in the stock.
• RTX announced a quarterly dividend of $0.68 per share, leading to an annualized yield of 1.7%, with a dividend payout ratio of 59.78%.

Swiss National Bank decreased its stake in RTX Corporation (NYSE:RTX - Free Report) by 0.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,753,981 shares of the company's stock after selling 4,000 shares during the period. Swiss National Bank owned 0.28% of RTX worth $497,252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RTX. Vanguard Group Inc. lifted its position in shares of RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after buying an additional 1,357,328 shares during the last quarter. Northern Trust Corp raised its stake in RTX by 8.4% in the 4th 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 during the period. T. Rowe Price Investment Management Inc. lifted its holdings in RTX by 43.1% during the 4th 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 purchasing an additional 3,164,844 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in RTX by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after purchasing an additional 104,139 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of RTX by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,647,638 shares of the company's stock valued at $884,958,000 after purchasing an additional 203,173 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Price Performance

Shares of RTX stock traded down $0.78 during trading hours on Friday, reaching $154.98. The company's stock had a trading volume of 3,666,241 shares, compared to its average volume of 5,096,528. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The firm's 50 day simple moving average is $147.87 and its 200-day simple moving average is $135.46. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $207.45 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 2.85 and a beta of 0.69.

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

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.8%. RTX's payout ratio is presently 59.78%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RTX shares. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. Royal Bank Of Canada restated an "outperform" rating and set a $170.00 price objective (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. 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. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $158.67.

Insider Activity at RTX

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. The trade was a 9.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the transaction, the insider directly owned 17,684 shares of the company's stock, valued at $2,790,888.88. The trade was a 42.08% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,935 shares of company stock worth $5,938,488. Corporate insiders own 0.15% of the company's stock.

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.