Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in RTX Co. (NYSE:RTX)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of RTX Co. (NYSE:RTX) by 4.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 301,553 shares of the company’s stock after selling 12,729 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RTX were worth $25,373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Morgan Stanley raised its holdings in RTX by 11.3% during the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after buying an additional 3,104,282 shares during the period. Norges Bank purchased a new stake in RTX in the fourth quarter worth $1,580,608,000. Northern Trust Corp increased its stake in RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after purchasing an additional 256,215 shares during the period. Moneta Group Investment Advisors LLC increased its stake in RTX by 87,932.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock worth $1,373,951,000 after purchasing an additional 13,598,794 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in RTX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after purchasing an additional 60,319 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other RTX news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other RTX news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the sale, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of recent analyst reports. TD Cowen increased their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. UBS Group increased their target price on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Robert W. Baird increased their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada increased their target price on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $94.44.

RTX Price Performance

Shares of RTX stock opened at $100.75 on Thursday. RTX Co. has a 1-year low of $68.56 and a 1-year high of $104.91. The stock’s 50-day moving average is $94.13 and its 200 day moving average is $86.13. The company has a market cap of $133.96 billion, a P/E ratio of 44.98, a PEG ratio of 1.84 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The company had revenue of $19.93 billion for the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter last year, the company earned $1.27 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Thursday, February 22nd. RTX’s payout ratio is currently 105.36%.

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.