RTX Co. (NYSE:RTX) Stake Increased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC increased its holdings in shares of RTX Co. (NYSE:RTX) by 181.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,746 shares of the company’s stock after buying an additional 31,412 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in RTX were worth $4,754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RTX. Lee Johnson Capital Management LLC purchased a new position in RTX during the 1st quarter valued at about $7,534,000. Kovack Advisors Inc. boosted its holdings in shares of RTX by 9.0% during the first quarter. Kovack Advisors Inc. now owns 43,254 shares of the company’s stock worth $4,219,000 after purchasing an additional 3,566 shares during the period. Massachusetts Wealth Management boosted its holdings in shares of RTX by 6.4% during the first quarter. Massachusetts Wealth Management now owns 8,349 shares of the company’s stock worth $814,000 after purchasing an additional 500 shares during the period. DMC Group LLC increased its stake in RTX by 9.7% in the 1st quarter. DMC Group LLC now owns 9,868 shares of the company’s stock valued at $962,000 after buying an additional 869 shares during the period. Finally, Norden Group LLC lifted its position in RTX by 2,449.0% in the 1st quarter. Norden Group LLC now owns 395,347 shares of the company’s stock worth $38,558,000 after buying an additional 379,837 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX traded up $0.33 during trading on Thursday, hitting $100.74. The stock had a trading volume of 2,149,212 shares, compared to its average volume of 6,524,184. The firm has a market cap of $133.93 billion, a PE ratio of 39.51, a P/E/G ratio of 1.76 and a beta of 0.82. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 12 month low of $68.56 and a 12 month high of $108.65. The company has a 50 day simple moving average of $104.35 and a 200-day simple moving average of $95.95.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share. Analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is currently 98.82%.

Insider Activity at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, 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 sold a total of 119,937 shares of company stock worth $12,256,952 in the last ninety days. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RTX. UBS Group boosted their price target on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company boosted their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. TD Cowen raised their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Barclays boosted their price target on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Finally, Robert W. Baird raised 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, RTX has a consensus rating of “Hold” and a consensus target price of $98.33.

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.