Zions Bancorporation N.A. Has $4.70 Million Position in RTX Co. (NYSE:RTX)

Zions Bancorporation N.A. lifted its stake in RTX Co. (NYSE:RTX) by 9.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,810 shares of the company’s stock after purchasing an additional 3,343 shares during the period. Zions Bancorporation N.A.’s holdings in RTX were worth $4,702,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Elgethun Capital Management increased its holdings in shares of RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after purchasing an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its holdings in RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares during the period. Blackston Financial Advisory Group LLC grew its holdings in RTX by 3.7% during the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after acquiring an additional 86 shares during the period. Canal Capital Management LLC grew its holdings in RTX by 2.1% during the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after acquiring an additional 87 shares during the period. Finally, Alpha Omega Wealth Management LLC grew its holdings in RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Up 0.3 %

Shares of NYSE:RTX opened at $123.75 on Thursday. The company’s 50-day moving average price is $122.21 and its two-hundred day moving average price is $113.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The stock has a market capitalization of $164.71 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 2.18 and a beta of 0.82.

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

RTX Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.04%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RTX shares. Melius Research lifted their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. The Goldman Sachs Group boosted their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. JPMorgan Chase & Co. boosted their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, RTX presently has an average rating of “Hold” and an average target price of $177.27.

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.