Zurcher Kantonalbank Zurich Cantonalbank Acquires 16,361 Shares of RTX Co. (NYSE:RTX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in RTX Co. (NYSE:RTX) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 293,272 shares of the company’s stock after acquiring an additional 16,361 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RTX were worth $35,533,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. boosted its holdings in shares of RTX by 3.9% in the 1st quarter. iA Global Asset Management Inc. now owns 10,997 shares of the company’s stock worth $1,073,000 after purchasing an additional 414 shares during the period. Cetera Investment Advisers boosted its stake in RTX by 174.0% during the first quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after buying an additional 232,103 shares during the period. Cetera Advisors LLC increased its position in RTX by 102.9% during the first quarter. Cetera Advisors LLC now owns 136,140 shares of the company’s stock valued at $13,278,000 after acquiring an additional 69,035 shares during the last quarter. Cetera Advisor Networks LLC raised its stake in shares of RTX by 2.2% in the first quarter. Cetera Advisor Networks LLC now owns 170,775 shares of the company’s stock valued at $16,656,000 after acquiring an additional 3,641 shares during the period. Finally, Soltis Investment Advisors LLC boosted its stake in shares of RTX by 1.5% during the 1st quarter. Soltis Investment Advisors LLC now owns 13,413 shares of the company’s stock worth $1,308,000 after purchasing an additional 197 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of several analyst reports. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and boosted their price objective for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Barclays increased their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Citigroup boosted their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $177.27.

RTX Trading Down 0.2 %

Shares of RTX stock opened at $120.34 on Friday. RTX Co. has a fifty-two week low of $79.57 and a fifty-two week high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The company has a market cap of $160.17 billion, a P/E ratio of 34.38, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82. The firm has a 50-day simple moving average of $122.24 and a two-hundred day simple moving average of $114.40.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 earnings per share. As a group, equities analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

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.