Cornerstone Wealth Group LLC Has $338,000 Stock Position in RTX Co. (NYSE:RTX)

Cornerstone Wealth Group LLC increased its holdings in RTX Co. (NYSE:RTX) by 3.1% during the fourth quarter, HoldingsChannel reports. The fund owned 2,923 shares of the company’s stock after acquiring an additional 88 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in RTX were worth $338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in RTX in the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new position in shares of RTX during the fourth quarter valued at about $39,000. Western Pacific Wealth Management LP purchased a new position in RTX during the third quarter worth about $41,000. Kimelman & Baird LLC bought a new stake in RTX in the 2nd quarter worth about $46,000. Finally, ORG Wealth Partners LLC purchased a new stake in RTX in the 3rd quarter valued at about $50,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RTX shares. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Susquehanna reduced their price target on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Barclays raised their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.27.

RTX Trading Down 0.5 %

NYSE:RTX opened at $124.72 on Tuesday. The company has a 50-day moving average price of $118.49 and a 200-day moving average price of $118.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The stock has a market cap of $166.00 billion, a price-to-earnings ratio of 35.63, a P/E/G ratio of 1.99 and a beta of 0.81. RTX Co. has a 12 month low of $88.90 and a 12 month high of $128.70.

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.