Insider Selling: RTX Co. (NYSE:RTX) CEO Sells 4,235 Shares of Stock

RTX Co. (NYSE:RTX) CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

RTX Trading Down 0.2 %

RTX stock opened at $116.45 on Friday. The stock has a market cap of $154.91 billion, a PE ratio of 45.67, a P/E/G ratio of 2.08 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $105.54 and a 200 day moving average price of $99.28. RTX Co. has a 52 week low of $68.56 and a 52 week high of $118.30.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts predict that RTX Co. will post 5.44 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is 98.82%.

Hedge Funds Weigh In On RTX

Several institutional investors have recently added to or reduced their stakes in RTX. Bear Mountain Capital Inc. purchased a new stake in RTX in the 4th quarter valued at about $25,000. Briaud Financial Planning Inc grew its holdings in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory purchased a new stake in RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX during the second quarter worth approximately $32,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in RTX during the fourth quarter worth approximately $38,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on RTX shares. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup increased their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. UBS Group boosted their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen raised their price objective on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company lowered their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, RTX presently has a consensus rating of “Hold” and a consensus price target of $153.47.

About RTX

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.