Insider Selling: RTX Co. (NYSE:RTX) CEO Sells 89,762 Shares of Stock

RTX Co. (NYSE:RTX) CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

RTX Stock Up 1.0 %

NYSE:RTX traded up $1.04 during trading hours on Monday, reaching $102.45. The company’s stock had a trading volume of 4,470,152 shares, compared to its average volume of 8,139,442. The company has a market capitalization of $136.21 billion, a P/E ratio of 39.77, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. RTX Co. has a 12 month low of $68.56 and a 12 month high of $103.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a 50 day moving average price of $95.57 and a two-hundred day moving average price of $87.71.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Equities analysts predict that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Thursday, February 22nd. RTX’s payout ratio is presently 92.55%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RTX shares. Barclays increased their price target on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. TD Cowen upped their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Citigroup upped their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. UBS Group boosted their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, RTX has a consensus rating of “Hold” and a consensus target price of $96.27.

Hedge Funds Weigh In On RTX

Large investors have recently made changes to their positions in the business. Cary Street Partners Investment Advisory LLC boosted its holdings in RTX by 26.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after purchasing an additional 28,910 shares during the last quarter. Rockline Wealth Management LLC acquired a new position in shares of RTX in the fourth quarter worth about $2,438,000. B&D White Capital Company LLC acquired a new position in shares of RTX in the third quarter worth about $14,186,000. PDS Planning Inc acquired a new position in shares of RTX in the fourth quarter worth about $356,000. Finally, Cullen Investment Group LTD. acquired a new position in shares of RTX in the fourth quarter worth about $843,000. 86.50% of the stock is owned by institutional investors and hedge funds.

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.