RTX Corporation (NYSE:RTX) Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC raised its stake in shares of RTX Corporation (NYSE:RTX) by 78.1% during the first quarter, HoldingsChannel reports. The fund owned 5,206 shares of the company’s stock after acquiring 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 hedge funds also recently added to or reduced their stakes in RTX. National Pension Service increased its holdings in RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after buying an additional 375,781 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in shares of RTX by 8.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock worth $4,591,000 after acquiring an additional 2,686 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock valued at $344,075,000 after acquiring an additional 936,953 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in RTX during the fourth quarter worth $3,356,000. Finally, Thoroughbred Financial Services LLC raised its stake in RTX by 43.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock worth $3,046,000 after acquiring an additional 7,987 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Performance

NYSE:RTX opened at $141.85 on Wednesday. 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 50-day moving average of $134.03 and a 200-day moving average of $127.84. RTX Corporation has a twelve month low of $99.07 and a twelve month high of $149.26. The firm has a market cap of $189.51 billion, a price-to-earnings ratio of 41.60, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.92%. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wall Street Zen downgraded RTX from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. lowered their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. UBS Group raised their price target on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Royal Bank Of Canada decreased their price objective on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $161.12.

Insiders Place Their Bets

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

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.