Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in RTX Corporation (NYSE:RTX)

Key Points

• Zurcher Kantonalbank increased its stake in RTX Corporation by 1.6%, purchasing an additional 5,175 shares during the first quarter, bringing its total holdings to 320,035 shares worth approximately $42.39 million.
• Recent analyst reports have boosted RTX's price targets, with JPMorgan raising it from $145 to $175 and Goldman Sachs from $114 to $126, contributing to a current consensus rating of "Moderate Buy".
• RTX has declared a quarterly dividend of $0.68 per share, to be paid on September 4, reflecting a 1.73% dividend yield with a payout ratio of 59.78%.

Zurcher Kantonalbank Zurich Cantonalbank increased its position in RTX Corporation (NYSE:RTX - Free Report) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,035 shares of the company's stock after buying 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new position in shares of RTX during the first quarter valued at approximately $26,000. 10Elms LLP purchased a new position in shares of RTX during the fourth quarter valued at approximately $29,000. Greenline Partners LLC purchased a new position in shares of RTX during the fourth quarter valued at approximately $34,000. Mpwm Advisory Solutions LLC purchased a new position in shares of RTX during the fourth quarter valued at approximately $43,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of RTX during the fourth quarter valued at approximately $45,000. Institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of NYSE:RTX traded down $1.23 during midday trading on Thursday, reaching $157.18. 1,869,404 shares of the company's stock traded hands, compared to its average volume of 5,383,157. The company has a market cap of $210.39 billion, a price-to-earnings ratio of 34.54, a P/E/G ratio of 2.89 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a one year low of $112.27 and a one year high of $158.79. The stock has a 50 day moving average of $144.73 and a 200 day moving average of $133.67.

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

RTX Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RTX shares. UBS Group boosted their target price on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a research note on Wednesday, May 14th. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research note on Friday, April 25th. Finally, Susquehanna upped their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

Insider Transactions at RTX

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the company'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 completion of the sale, the executive vice president owned 13,184 shares in the company, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,234 shares of company stock worth $4,439,755 in the last three months. 0.15% of the stock is owned by insiders.

RTX Company 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.