Cornerstone Advisors LLC Acquires 2,400 Shares of RTX Co. (NYSE:RTX)

Cornerstone Advisors LLC increased its holdings in shares of RTX Co. (NYSE:RTX) by 2.7% in the third quarter, Holdings Channel.com reports. The fund owned 90,700 shares of the company’s stock after buying an additional 2,400 shares during the quarter. Cornerstone Advisors LLC’s holdings in RTX were worth $10,989,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RTX. Legal & General Group Plc boosted its stake in shares of RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after purchasing an additional 362,340 shares during the period. Ameriprise Financial Inc. lifted its holdings in RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after buying an additional 408,551 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in RTX by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after buying an additional 417,789 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in RTX by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,937,660 shares of the company’s stock worth $355,927,000 after acquiring an additional 38,930 shares in the last quarter. Finally, National Pension Service increased its position in shares of RTX by 14.5% during the third quarter. National Pension Service now owns 2,483,792 shares of the company’s stock worth $300,936,000 after acquiring an additional 313,710 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE:RTX opened at $119.14 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The company’s 50 day moving average is $122.13 and its 200 day moving average is $113.84. The company has a market cap of $158.58 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the company posted $1.25 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.12%. RTX’s payout ratio is 72.00%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RTX shares. Morgan Stanley boosted their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and boosted their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Royal Bank of Canada increased their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, RTX presently has an average rating of “Hold” and an average price target of $177.27.

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.