Cornerstone Wealth Management LLC Has $7.17 Million Stock Holdings in RTX Corporation (NYSE:RTX)

Cornerstone Wealth Management LLC raised its position in RTX Corporation (NYSE:RTX) by 2.6% in the 1st quarter, HoldingsChannel reports. The fund owned 54,093 shares of the company’s stock after purchasing an additional 1,361 shares during the period. Cornerstone Wealth Management LLC’s holdings in RTX were worth $7,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. LaFleur & Godfrey LLC raised its stake in shares of RTX by 0.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock valued at $20,620,000 after buying an additional 900 shares in the last quarter. Brighton Jones LLC lifted its stake in RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC boosted its holdings in RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after purchasing an additional 159 shares in the last quarter. WBH Advisory Inc. grew its stake in shares of RTX by 8.6% in the 4th quarter. WBH Advisory Inc. now owns 7,392 shares of the company’s stock valued at $855,000 after purchasing an additional 586 shares during the period. Finally, Strategic Advisors LLC raised its holdings in shares of RTX by 11.2% in the 4th quarter. Strategic Advisors LLC now owns 4,045 shares of the company’s stock worth $468,000 after buying an additional 409 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of analyst reports. UBS Group upped their price target on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Royal Bank Of Canada decreased their price target on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Cowen reissued a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $159.82.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX opened at $148.50 on Wednesday. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.56. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average price of $132.34 and a 200 day moving average price of $126.91. The firm has a market cap of $198.39 billion, a PE ratio of 43.55, a PEG ratio of 2.65 and a beta of 0.63.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. Research analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.68 per share. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s dividend payout ratio is 79.77%.

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.