Zions Bancorporation National Association UT Invests $5.24 Million in RTX Corporation (NYSE:RTX)

Key Points

• Zions Bancorporation National Association UT has made a new investment in RTX Corporation, acquiring 39,564 shares valued at approximately $5.24 million.
• Insiders at RTX have sold a total of 39,935 shares in recent months, with significant sales from executives, indicating a 42.08% decrease in ownership for one insider.
• RTX recently declared a quarterly dividend of $0.68 per share, representing an annualized dividend yield of 1.8% and a payout ratio of 59.78%.

Zions Bancorporation National Association UT bought a new position in shares of RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 39,564 shares of the company's stock, valued at approximately $5,241,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after buying an additional 1,357,328 shares during the period. Northern Trust Corp lifted its stake in RTX by 8.4% in the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock valued at $1,494,257,000 after purchasing an additional 997,806 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position 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 worth $1,216,063,000 after acquiring an additional 3,164,844 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of RTX by 1.0% in 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 buying an additional 104,139 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in 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 acquiring an additional 203,173 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Philip J. Jasper sold 12,847 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the transaction, the vice president directly owned 30,004 shares in the company, valued at $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. Insiders have sold a total of 39,935 shares of company stock worth $5,938,488 in the last ninety days. Corporate insiders own 0.15% of the company's stock.

RTX Price Performance

Shares of NYSE:RTX traded down $0.02 during trading on Monday, reaching $154.84. 3,572,241 shares of the company traded hands, compared to its average volume of 5,106,436. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79. The firm has a market capitalization of $207.25 billion, a PE ratio of 25.72, a PEG ratio of 2.85 and a beta of 0.69. The company's 50 day moving average is $147.87 and its two-hundred day moving average is $135.53.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same quarter last year, the company earned $1.41 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, 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. Stockholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.8%. RTX's dividend payout ratio is currently 59.78%.

Analysts Set New Price Targets

RTX has been the subject of several research analyst reports. UBS Group raised their price objective on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. Susquehanna upped their price target on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company raised their target price on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley lifted their target price on shares of RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Six investment 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

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.