Cornerstone Wealth Management LLC Increases Stock Holdings in RTX Co. (NYSE:RTX)

Cornerstone Wealth Management LLC increased its holdings in RTX Co. (NYSE:RTX) by 181.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,746 shares of the company’s stock after buying an additional 31,412 shares during the period. Cornerstone Wealth Management LLC’s holdings in RTX were worth $4,754,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in shares of RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the last quarter. Capital International Investors grew its holdings in RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after buying an additional 11,163,222 shares during the last quarter. Norges Bank purchased a new position in RTX during the fourth quarter worth $690,154,000. Massachusetts Financial Services Co. MA raised its holdings in shares of RTX by 82.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after acquiring an additional 6,932,011 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of RTX by 129.9% in the fourth quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after acquiring an additional 2,294,908 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Trading Up 0.3 %

NYSE RTX traded up $0.33 during mid-day trading on Thursday, hitting $100.74. The company’s stock had a trading volume of 2,149,212 shares, compared to its average volume of 6,524,184. The firm has a market capitalization of $133.93 billion, a P/E ratio of 39.51, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.65. The stock’s fifty day simple moving average is $104.35 and its two-hundred day simple moving average is $95.95.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. Research 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. Stockholders of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is 98.82%.

Insider Activity

In related news, insider Stephen J. Timm sold 19,880 shares of the business’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 transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on RTX shares. TD Cowen boosted their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Citigroup upped their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Susquehanna lifted their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Barclays increased their price target on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Finally, Wells Fargo & Company lifted their price objective on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, RTX currently has a consensus rating of “Hold” and a consensus price target of $98.33.

RTX Company 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.