Cornerstone Wealth Group LLC Purchases New Position in RTX Co. (NYSE:RTX)

Cornerstone Wealth Group LLC purchased a new stake in shares of RTX Co. (NYSE:RTX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,526 shares of the company’s stock, valued at approximately $246,000.

A number of other large investors have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC grew its position in RTX by 7.9% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock worth $141,000 after purchasing an additional 106 shares during the period. Jacobsen Capital Management grew its position in RTX by 3.0% in the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after purchasing an additional 114 shares during the period. Diligent Investors LLC grew its position in RTX by 1.4% in the 4th quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock worth $739,000 after purchasing an additional 118 shares during the period. Hummer Financial Advisory Services Inc grew its position in RTX by 1.7% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 7,334 shares of the company’s stock worth $715,000 after purchasing an additional 120 shares during the period. Finally, Lcnb Corp grew its position in RTX by 1.8% in the 4th quarter. Lcnb Corp now owns 7,065 shares of the company’s stock worth $594,000 after purchasing an additional 122 shares during the period. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RTX. Citigroup boosted their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen boosted their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Wells Fargo & Company boosted their price objective on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Bank of America boosted their price objective on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Robert W. Baird boosted their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $98.33.

Insider Transactions at RTX

In other news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock worth $12,256,952 in the last three months. Insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX stock traded down $0.23 during mid-day trading on Friday, hitting $100.39. The company had a trading volume of 13,853,219 shares, compared to its average volume of 6,408,701. The company has a market capitalization of $133.47 billion, a price-to-earnings ratio of 39.37, a P/E/G ratio of 1.76 and a beta of 0.83. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $104.42 and a 200 day moving average price of $95.57.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 EPS. On average, research analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.51%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

About RTX

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.