Cornerstone Wealth Management LLC Sells 1,772 Shares of RTX Co. (NYSE:RTX)

Cornerstone Wealth Management LLC decreased its position in RTX Co. (NYSE:RTX) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,845 shares of the company’s stock after selling 1,772 shares during the period. Cornerstone Wealth Management LLC’s holdings in RTX were worth $6,160,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RTX. Briaud Financial Planning Inc raised its stake in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory bought a new position in RTX in the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. acquired a new position in RTX during the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in shares of RTX during the 2nd quarter worth $41,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of RTX in the 3rd quarter valued at approximately $50,000. 86.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at $4,463,273.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

RTX Price Performance

RTX opened at $126.20 on Thursday. The business’s fifty day simple moving average is $120.50 and its 200-day simple moving average is $110.07. RTX Co. has a 12-month low of $72.48 and a 12-month high of $126.82. The company has a market capitalization of $167.88 billion, a price-to-earnings ratio of 72.95, a PEG ratio of 2.21 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 0.66.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 EPS. On average, equities research analysts anticipate that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. RTX’s dividend payout ratio is presently 145.67%.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent research reports. Citigroup increased their price objective on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and raised their target price for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Robert W. Baird boosted their price target on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $162.50.

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.