CIBC Asset Management Inc Purchases 15,756 Shares of RTX Co. (NYSE:RTX)

CIBC Asset Management Inc boosted its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 246,986 shares of the company's stock after buying an additional 15,756 shares during the quarter. CIBC Asset Management Inc's holdings in RTX were worth $29,925,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RTX. Briaud Financial Planning Inc increased its holdings in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company's stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX during the 2nd quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new position in RTX in the 2nd quarter worth approximately $41,000. Finally, Western Pacific Wealth Management LP purchased a new position in RTX in the 3rd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RTX shares. UBS Group raised their price target on RTX from $126.00 to $133.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Alembic Global Advisors raised shares of RTX from a "neutral" rating to an "overweight" rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. TD Cowen raised shares of RTX to a "strong-buy" rating in a research note on Tuesday, October 8th. Royal Bank of Canada raised their price target on shares of RTX from $115.00 to $130.00 and gave the company a "sector perform" rating in a report on Wednesday, October 23rd. Finally, Bank of America raised shares of RTX from a "neutral" rating to a "buy" rating and upped their price target for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $177.27.

RTX Price Performance

NYSE RTX traded up $0.24 on Friday, reaching $118.53. 6,970,495 shares of the company's stock traded hands, compared to its average volume of 6,669,619. The stock has a market cap of $157.77 billion, a PE ratio of 33.86, a P/E/G ratio of 2.19 and a beta of 0.82. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70. The stock has a 50-day simple moving average of $122.20 and a 200 day simple moving average of $113.39. 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 (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating 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 company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the firm earned $1.25 EPS. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. RTX's dividend payout ratio (DPR) is currently 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.