Zions Bancorporation N.A. Purchases 4,784 Shares of RTX Co. (NYSE:RTX)

Zions Bancorporation N.A. lifted its position in RTX Co. (NYSE:RTX) by 12.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 43,594 shares of the company’s stock after buying an additional 4,784 shares during the period. Zions Bancorporation N.A.’s holdings in RTX were worth $5,045,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RTX. Fairway Wealth LLC bought a new stake in shares of RTX in the fourth quarter worth about $31,000. Picton Mahoney Asset Management grew its position in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Modus Advisors LLC bought a new stake in RTX during the 4th quarter worth approximately $39,000. Millstone Evans Group LLC acquired a new stake in RTX during the 4th quarter worth approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in RTX in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and increased their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating in a report on Monday. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

Insider Buying and Selling

In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the sale, the executive vice president now directly owns 29,742 shares in the company, valued at $3,771,880.44. This trade represents a 39.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by insiders.

RTX Stock Performance

NYSE RTX opened at $134.76 on Tuesday. The firm has a market capitalization of $179.92 billion, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average price is $127.48 and its two-hundred day moving average price is $122.66. RTX Co. has a 1 year low of $95.27 and a 1 year high of $135.74.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, research analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.87%. RTX’s dividend payout ratio is currently 70.99%.

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.