By Colin KellaherAerospace and defense company RTX, which earlier this month saw its shares hit a 52-week low, is buying back $10 billion worth of stock under an accelerated repurchase program. RTX on Tuesday said the move will increase its post-merger shareowner capital return commitment to a range of $36 billion to $37 billion through 2025 from a prior target of $33 billion to $35 billion. The stock hit a 52-week low of $68.56 on Oct. 6 and closed Monday at $73.13, giving RTX a market capitalization topping $105 billion. RTX on Tuesday said its shares are "an attractive investment opportunity," adding that it plans to fund the accelerated buyback through a combination of short- and long-term debt. Write to Colin Kellaher at colin.kellaher@wsj.com(END) Dow Jones NewswiresOctober 24, 2023 07:38 ET (11:38 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal October 24, 2023 18:28 UTC