RTX Corporation $RTX Shares Acquired by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its stake in shares of RTX Corporation (NYSE:RTX) by 22.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,356 shares of the company’s stock after buying an additional 1,150 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in RTX were worth $928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. NorthRock Partners LLC grew its position in shares of RTX by 4.0% during the second quarter. NorthRock Partners LLC now owns 26,946 shares of the company’s stock worth $3,933,000 after buying an additional 1,037 shares in the last quarter. Concord Asset Management LLC VA acquired a new position in RTX in the second quarter valued at approximately $333,000. Sequoia Financial Advisors LLC boosted its holdings in RTX by 11.2% in the second quarter. Sequoia Financial Advisors LLC now owns 606,553 shares of the company’s stock valued at $88,569,000 after purchasing an additional 61,106 shares in the last quarter. Vest Financial LLC boosted its holdings in RTX by 39.3% in the second quarter. Vest Financial LLC now owns 27,954 shares of the company’s stock valued at $4,082,000 after purchasing an additional 7,885 shares in the last quarter. Finally, M.E. Allison & CO. Inc. boosted its holdings in RTX by 9.4% in the second quarter. M.E. Allison & CO. Inc. now owns 1,689 shares of the company’s stock valued at $247,000 after purchasing an additional 145 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Shane G. Eddy sold 25,968 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the transaction, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock worth $8,947,010 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RTX shares. UBS Group upped their price target on RTX from $166.00 to $177.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Citigroup upped their price target on RTX from $148.00 to $182.00 and gave the company a “buy” rating in a report on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RTX in a report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Finally, The Goldman Sachs Group upped their price target on RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.13.

RTX Stock Up 0.4%

RTX stock opened at $159.45 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The firm has a market capitalization of $213.43 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.66. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $170.85. The stock’s fifty day moving average is $159.09 and its two-hundred day moving average is $145.39.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period last year, the company earned $1.41 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

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.