RTX Co. (NYSE:RTX) Position Trimmed by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC trimmed its stake in RTX Co. (NYSE:RTX) by 6.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,835 shares of the company’s stock after selling 200 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in RTX were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc grew its holdings in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new stake in RTX during the second quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX in the second quarter valued at about $32,000. Fairfield Financial Advisors LTD purchased a new stake in shares of RTX during the 2nd quarter worth about $41,000. Finally, Stephens Consulting LLC lifted its holdings in shares of RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after buying an additional 114 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley increased their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada raised their target price on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Melius Research upped their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $177.27.

RTX Trading Down 0.7 %

Shares of RTX stock opened at $120.99 on Friday. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The company’s fifty day simple moving average is $122.13 and its 200-day simple moving average is $111.89. The company has a market cap of $161.04 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 2.12 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. As a group, sell-side analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.08%. RTX’s dividend payout ratio is currently 72.00%.

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.