CIBC Private Wealth Group LLC Lowers Stock Holdings in RTX Co. (NYSE:RTX)

CIBC Private Wealth Group LLC reduced its stake in RTX Co. (NYSE:RTX - Free Report) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,234,563 shares of the company's stock after selling 64,002 shares during the period. CIBC Private Wealth Group LLC owned 0.24% of RTX worth $374,951,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RTX. Vanguard Group Inc. increased its holdings in RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares during the period. Geode Capital Management LLC increased its stake in shares of RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company's stock valued at $3,290,622,000 after buying an additional 508,344 shares during the period. Fisher Asset Management LLC raised its holdings in shares of RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock valued at $2,204,198,000 after acquiring an additional 576,214 shares in the last quarter. Norges Bank purchased a new stake in RTX in the fourth quarter worth about $1,745,644,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in RTX by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company's stock worth $1,185,832,000 after acquiring an additional 151,474 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares of the company's stock, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction 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 sale, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by company insiders.

RTX Price Performance

Shares of NYSE:RTX traded up $0.84 during midday trading on Monday, hitting $132.56. The company had a trading volume of 5,519,690 shares, compared to its average volume of 5,647,833. The business's 50-day simple moving average is $128.59 and its 200-day simple moving average is $123.06. The stock has a market cap of $176.97 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a twelve month low of $97.03 and a twelve month high of $136.17.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio (DPR) is presently 70.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. UBS Group raised shares of RTX from a "neutral" rating to a "buy" rating in a research report on Monday, March 24th. Royal Bank of Canada lifted their price target on RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Morgan Stanley upped their price objective on RTX from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 29th. Argus upgraded RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company increased their price target on shares of RTX from $151.00 to $156.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, RTX presently has an average rating of "Moderate Buy" and a consensus target price of $166.40.

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.