Zurich Insurance Group Ltd FI Makes New $130.19 Million Investment in RTX Corporation $RTX

Key Points

• Zurich Insurance Group Ltd FI acquired a new position in RTX Corporation, purchasing approximately 982,894 shares valued at around $130 million, making RTX 1.1% of their overall holdings.
• Equities analysts have generally improved their outlook on RTX, with multiple firms raising their price targets, resulting in an average target price of $158.67 for the stock.
• RTX recently declared a quarterly dividend of $0.68 per share, reflecting a 1.8% dividend yield and a dividend payout ratio of 59.78%.

Zurich Insurance Group Ltd FI bought a new position in RTX Corporation (NYSE:RTX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 982,894 shares of the company's stock, valued at approximately $130,194,000. RTX makes up about 1.1% of Zurich Insurance Group Ltd FI's holdings, making the stock its 22nd largest holding. Zurich Insurance Group Ltd FI owned about 0.07% of RTX at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RTX. Nuveen LLC acquired a new position in shares of RTX in the 1st quarter worth approximately $916,739,000. GAMMA Investing LLC raised its holdings in shares of RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after buying an additional 4,135,349 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of RTX by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock worth $845,784,000 after buying an additional 1,394,918 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of RTX by 1.1% in 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 in the last quarter. Finally, 1832 Asset Management L.P. grew its position in RTX by 1,178.2% during the 1st quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company's stock worth $160,588,000 after acquiring an additional 1,117,506 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Shane G. Eddy sold 25,968 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction 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 completion of the transaction, the insider owned 17,684 shares in the company, valued at $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,635 shares of company stock worth $8,947,010 over the last three months. Insiders own 0.15% of the company's stock.

RTX Trading Down 1.1%

RTX traded down $1.75 during mid-day trading on Friday, reaching $155.90. The stock had a trading volume of 3,194,158 shares, compared to its average volume of 5,144,321. The stock has a market capitalization of $208.68 billion, a P/E ratio of 34.26, a P/E/G ratio of 2.86 and a beta of 0.67. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The firm's fifty day simple moving average is $154.44 and its two-hundred day simple moving average is $140.38. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $161.26.

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 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 firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period last year, the company earned $1.41 EPS. The business's quarterly revenue was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. RTX's dividend payout ratio (DPR) is currently 59.78%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Sanford C. Bernstein increased their price target on RTX from $154.00 to $157.00 and gave the stock a "market perform" rating in a research report on Wednesday. Morgan Stanley increased their price target on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Barclays increased their price target on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Bank of America increased their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Susquehanna increased their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, RTX has a consensus rating of "Moderate Buy" and a consensus target price of $158.87.

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.