RTX Co. (NYSE:RTX) Shares Purchased by CIBC Asset Management Inc

by · The Markets Daily

CIBC Asset Management Inc raised its position in RTX Co. (NYSE:RTX – Free Report) by 6.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 246,986 shares of the company’s stock after purchasing an additional 15,756 shares during the period. CIBC Asset Management Inc’s holdings in RTX were worth $29,925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in RTX in the first quarter valued at approximately $730,000. Spirepoint Private Client LLC purchased a new stake in RTX during the 1st quarter worth approximately $498,000. Patten & Patten Inc. TN raised its stake in shares of RTX by 0.3% in the first quarter. Patten & Patten Inc. TN now owns 159,671 shares of the company’s stock valued at $15,573,000 after acquiring an additional 542 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in RTX in the 1st quarter valued at about $325,000. Finally, Mark Sheptoff Financial Planning LLC boosted its stake in shares of RTX by 14.1% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 25,572 shares of the company’s stock valued at $2,494,000 after buying an additional 3,155 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on RTX shares. Morgan Stanley raised their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their price objective on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Robert W. Baird boosted their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their price objective for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, RTX has a consensus rating of “Hold” and an average target price of $177.27.

View Our Latest Report on RTX

RTX Price Performance

Shares of NYSE:RTX opened at $118.53 on Friday. 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 $157.76 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 2.19 and a beta of 0.82. The company 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 quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 EPS. On average, analysts predict that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 72.00%.

RTX Company Profile

(Free Report)

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.

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