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

CIBC Asset Management Inc increased its stake in RTX Co. (NYSE:RTX) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 250,975 shares of the company’s stock after purchasing an additional 3,989 shares during the period. CIBC Asset Management Inc’s holdings in RTX were worth $29,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after acquiring an additional 2,094,834 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of RTX by 11,235.6% in the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after purchasing an additional 1,686,007 shares in the last quarter. Jennison Associates LLC grew its position in RTX by 190.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after purchasing an additional 993,273 shares in the last quarter. Fisher Asset Management LLC increased its stake in RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after buying an additional 852,183 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in RTX by 256.6% during the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after buying an additional 702,699 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RTX shares. Bank of America raised their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, UBS Group upped their price target on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Down 2.5 %

RTX stock opened at $122.68 on Tuesday. RTX Co. has a twelve month low of $88.90 and a twelve month high of $132.43. The stock has a market cap of $163.42 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.17 and a beta of 0.82. The company’s 50-day moving average price is $120.92 and its two-hundred day moving average price is $120.72. 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) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

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.