Cornerstone Wealth Management LLC Purchases 1,887 Shares of RTX Co. (NYSE:RTX)

Cornerstone Wealth Management LLC lifted its position in shares of RTX Co. (NYSE:RTX) by 3.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 52,732 shares of the company’s stock after acquiring an additional 1,887 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in RTX were worth $6,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elgethun Capital Management boosted its position in RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after buying an additional 85 shares during the period. Avestar Capital LLC boosted its position in RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after buying an additional 85 shares during the period. Arbor Wealth Advisors LLC boosted its position in RTX by 3.7% in the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock valued at $276,000 after buying an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after purchasing an additional 86 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC raised its holdings in shares of RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after purchasing an additional 86 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on RTX. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $153.00 in a report on Tuesday. Morgan Stanley boosted their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.27.

RTX Stock Performance

NYSE RTX opened at $126.34 on Friday. The stock’s fifty day moving average is $118.25 and its two-hundred day moving average is $118.12. The firm has a market capitalization of $168.17 billion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $88.70 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share. On average, research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

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.