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

CIBC Private Wealth Group LLC reduced its stake in RTX Co. (NYSE:RTX) by 1.9% during the fourth quarter, HoldingsChannel reports. The fund owned 3,234,563 shares of the company’s stock after selling 64,002 shares during the period. CIBC Private Wealth Group LLC’s holdings in RTX were worth $374,951,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. RWA Wealth Partners LLC increased its stake in RTX by 0.6% during the 4th quarter. RWA Wealth Partners LLC now owns 227,769 shares of the company’s stock valued at $26,357,000 after purchasing an additional 1,371 shares in the last quarter. Schroder Investment Management Group increased its position in shares of RTX by 195.0% during the fourth quarter. Schroder Investment Management Group now owns 637,058 shares of the company’s stock valued at $73,402,000 after acquiring an additional 421,137 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in RTX by 51.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 262,074 shares of the company’s stock worth $30,327,000 after acquiring an additional 88,604 shares during the last quarter. Allianz SE bought a new position in RTX in the 4th quarter valued at approximately $5,844,000. Finally, Mechanics Financial Corp boosted its stake in RTX by 360.0% during the 4th quarter. Mechanics Financial Corp now owns 6,210 shares of the company’s stock valued at $719,000 after purchasing an additional 4,860 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Down 1.3 %

RTX stock opened at $131.68 on Friday. RTX Co. has a twelve month low of $97.03 and a twelve month high of $136.17. The stock has a market cap of $175.81 billion, a P/E ratio of 37.09, a PEG ratio of 2.11 and a beta of 0.78. The business’s 50-day moving average price is $128.59 and its 200-day moving average price is $123.03. 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 announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RTX shares. Wells Fargo & Company upped their price target on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Susquehanna lifted their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley increased their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.40.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of RTX 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 in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by company insiders.

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.