Cornerstone Wealth Group LLC Buys 2,283 Shares of RTX Corporation (NYSE:RTX)

Cornerstone Wealth Group LLC boosted its holdings in RTX Corporation (NYSE:RTX - Free Report) by 78.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,206 shares of the company's stock after buying an additional 2,283 shares during the quarter. Cornerstone Wealth Group LLC's holdings in RTX were worth $690,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vectors Research Management LLC raised its position in shares of RTX by 0.8% during the first quarter. Vectors Research Management LLC now owns 38,294 shares of the company's stock worth $5,072,000 after purchasing an additional 306 shares during the period. Berry Wealth Group LP purchased a new position in RTX in the 1st quarter worth about $236,000. Sava Infond d.o.o. acquired a new stake in RTX during the 1st quarter worth about $1,563,000. FORM Wealth Advisors LLC purchased a new stake in RTX during the first quarter valued at about $276,000. Finally, Legacy Advisors LLC boosted its holdings in shares of RTX by 14.0% in the first quarter. Legacy Advisors LLC now owns 8,780 shares of the company's stock worth $1,163,000 after buying an additional 1,076 shares during the period. Institutional investors own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RTX shares. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research report on Friday, April 25th. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and increased their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Royal Bank Of Canada lowered their price target on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. 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. Finally, Susquehanna decreased their price objective on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $161.12.

RTX Stock Down 0.4%

NYSE RTX traded down $0.56 during trading on Wednesday, reaching $141.29. The company's stock had a trading volume of 10,393,517 shares, compared to its average volume of 5,416,512. 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 stock has a market capitalization of $188.76 billion, a PE ratio of 41.43, a PEG ratio of 2.64 and a beta of 0.63. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.26. The business has a 50-day moving average price of $134.03 and a 200-day moving average price of $127.84.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. On average, research analysts forecast 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. Investors of record on Friday, May 23rd were issued a $0.68 dividend. This is a positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, May 23rd. RTX's payout ratio is 79.77%.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction 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 $1,217,496.84. The trade was a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

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.