Cornerstone Wealth Group LLC Decreases Stake in RTX Co. (NYSE:RTX)

Cornerstone Wealth Group LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 SEC.

Several other institutional investors have also modified their holdings of the business. Briaud Financial Planning Inc raised its position in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX in the second quarter worth $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the second quarter valued at $32,000. Fairfield Financial Advisors LTD bought a new position in RTX during the 2nd quarter valued at $41,000. Finally, Stephens Consulting LLC grew its holdings in RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

NYSE RTX opened at $120.99 on Friday. The stock has a market capitalization of $161.04 billion, a P/E ratio of 34.57, a P/E/G ratio of 2.12 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The business’s fifty day moving average is $122.13 and its two-hundred day moving average is $111.89. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. On average, research analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. 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%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Melius Research lifted their target price on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Robert W. Baird upped their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. The Goldman Sachs Group upped their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada increased their target price on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $177.27.

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.