CIBC Asset Management Inc Acquires 3,989 Shares of RTX Co. (NYSE:RTX)

CIBC Asset Management Inc increased its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 250,975 shares of the company's stock after purchasing an additional 3,989 shares during the quarter. CIBC Asset Management Inc's holdings in RTX were worth $29,043,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in RTX. Stratos Wealth Advisors LLC lifted its stake in RTX by 4.9% in the third quarter. Stratos Wealth Advisors LLC now owns 15,150 shares of the company's stock valued at $1,836,000 after acquiring an additional 702 shares during the last quarter. Net Worth Advisory Group acquired a new stake in RTX in the third quarter valued at approximately $251,000. New Century Financial Group LLC acquired a new stake in RTX in the third quarter valued at approximately $211,000. Vest Financial LLC lifted its stake in RTX by 203.6% in the third quarter. Vest Financial LLC now owns 10,940 shares of the company's stock valued at $1,325,000 after acquiring an additional 7,337 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in RTX by 21.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 530,729 shares of the company's stock valued at $64,303,000 after acquiring an additional 95,096 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares of the company's stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.13% of the company's stock.

Analyst Ratings Changes

RTX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and lifted their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Barclays lifted their price target on shares of RTX from $108.00 to $130.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. Citigroup raised shares of RTX from a "neutral" rating to a "buy" rating and lifted their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. UBS Group lifted their price target on shares of RTX from $128.00 to $142.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their target price 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. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, RTX has an average rating of "Moderate Buy" and an average target price of $163.07.

RTX Price Performance

Shares of NYSE:RTX traded down $1.88 during midday trading on Friday, hitting $123.23. The stock had a trading volume of 4,845,158 shares, compared to its average volume of 4,781,505. The company's 50-day moving average price is $121.49 and its 200-day moving average price is $120.89. The company has a market capitalization of $164.16 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, February 21st. RTX's dividend payout ratio (DPR) is currently 70.99%.

About RTX

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.