Cornerstone Advisors LLC Sells 40,500 Shares of RTX Co. (NYSE:RTX)

Cornerstone Advisors LLC lowered its holdings in shares of RTX Co. (NYSE:RTXFree Report) by 23.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,300 shares of the company’s stock after selling 40,500 shares during the period. Cornerstone Advisors LLC’s holdings in RTX were worth $9,450,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in RTX. Strengthening Families & Communities LLC acquired a new stake in RTX in the third quarter valued at approximately $28,000. Quarry LP bought a new position in shares of RTX in the first quarter valued at approximately $28,000. Legacy Financial Group LLC bought a new stake in RTX during the third quarter worth $35,000. VitalStone Financial LLC lifted its holdings in RTX by 136.5% during the second quarter. VitalStone Financial LLC now owns 369 shares of the company’s stock worth $36,000 after acquiring an additional 213 shares during the period. Finally, Milestone Investment Advisors LLC bought a new stake in RTX during the third quarter worth $37,000. Institutional investors and hedge funds own 79.06% of the company’s stock.

RTX Trading Up 1.1 %

Shares of RTX traded up $1.00 during trading hours on Monday, reaching $91.51. 2,547,411 shares of the company traded hands, compared to its average volume of 7,989,479. The company’s fifty day moving average price is $85.84 and its two-hundred day moving average price is $82.00. The company has a market capitalization of $121.42 billion, a price-to-earnings ratio of 40.41, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. RTX Co. has a 12 month low of $68.56 and a 12 month high of $104.91.

RTX (NYSE:RTXGet Free Report) last announced its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The firm had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter in the previous year, the firm posted $1.27 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.58%. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Insiders Place Their Bets

In other news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the transaction, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,224 shares of company stock valued at $205,448. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of several research reports. Barclays boosted their target price on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Robert W. Baird reiterated a “neutral” rating and issued a $94.00 price target (up from $88.00) on shares of RTX in a research report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft cut shares of RTX from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $79.00 to $68.00 in a research report on Friday, October 27th. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $78.00 to $100.00 in a research report on Thursday, January 25th. Finally, TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $91.71.

View Our Latest Analysis on RTX

About RTX

(Free Report)

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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