RTX (NYSE:RTX) Stock Falls 2.7% on Insider Selling

RTX Corporation (NYSE:RTX) shares traded down 2.7% during trading on Wednesday following insider selling activity. The company traded as low as $194.91 and last traded at $198.2780. Approximately 7,128,708 shares were traded during trading, an increase of 32% from the average session volume of 5,387,054 shares. The stock had previously closed at $203.82.

Specifically, EVP Dantaya Williams sold 9,071 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $201.70, for a total transaction of $1,829,620.70. Following the transaction, the executive vice president owned 16,930 shares in the company, valued at approximately $3,414,781. The trade was a 34.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Sanford C. Bernstein decreased their price target on RTX from $223.00 to $214.00 and set a “market perform” rating on the stock in a research note on Thursday, October 15th. Weiss Ratings upgraded RTX from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 22nd. The Goldman Sachs Group raised their target price on RTX from $195.00 to $206.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Argus set a $245.00 target price on shares of RTX and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Barclays upped their price target on shares of RTX from $223.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $231.24.

Key Stories Impacting RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon won a phase-one DARPA contract to develop all-optical signal processing for the PICASSO program. The technology aims to help military operators detect and respond to threats faster, adding to RTX’s defense technology pipeline; the initial award is an early-stage contract, with no value disclosed. Article: RTX’s Raytheon to develop new optical signal processing capability
• Positive Sentiment: An InvestorPlace commentary points to potential long-term demand for RTX’s Patriot systems, radars, and related air-defense equipment as the U.S. expands military production. It cites RTX investments in manufacturing and testing capacity, as well as a large backlog, while noting that returns depend on execution and converting orders into cash. This is an industry outlook, not a newly announced order. Article: America’s Military Rebuild Starts With a Manufacturing Problem
• Negative Sentiment: A Barron’s report says a “blue wave” is lifting the broader market but dragging defense stocks. The election-related shift in sentiment may reflect investor concern about the sector’s policy and spending outlook, weighing on RTX despite its defense demand prospects. Article: RTX and Other Defense Stocks Have a Midterm Headache
• Negative Sentiment: EVP Dantaya Williams sold 9,071 shares for about $1.83 million, reducing her direct holdings by roughly 35%. The sale could weigh on sentiment, although the filing does not explain the reason for the transaction. SEC filing for the insider transaction

RTX Trading Down 2.7%

The firm has a market cap of $267.56 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.26 and a beta of 0.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.05. The business has a fifty day moving average of $194.55 and a two-hundred day moving average of $195.62.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.48. The firm had revenue of $24.96 billion during the quarter, compared to analysts’ expectations of $24.11 billion. RTX had a return on equity of 14.89% and a net margin of 8.75%. RTX’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.70 earnings per share. As a group, equities analysts expect that RTX Corporation will post 7.67 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. RTX’s dividend payout ratio is presently 47.40%.

Hedge Funds Weigh In On RTX

Hedge funds have recently added to or reduced their stakes in the business. AEGON ASSET MANAGEMENT UK Plc boosted its position in shares of RTX by 12.5% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 387,611 shares of the company’s stock valued at $71,960,000 after acquiring an additional 42,930 shares during the period. Consolidated Investment Group LLC increased its position in RTX by 19.7% during the third quarter. Consolidated Investment Group LLC now owns 21,300 shares of the company’s stock worth $3,954,000 after acquiring an additional 3,500 shares during the period. Kestra Investment Management LLC increased its position in RTX by 2.4% during the third quarter. Kestra Investment Management LLC now owns 4,443 shares of the company’s stock worth $825,000 after acquiring an additional 105 shares during the period. AlphaCore Capital LLC acquired a new position in RTX during the 3rd quarter valued at $7,574,000. Finally, Midwest Capital Advisors LLC acquired a new position in RTX during the 3rd quarter valued at $42,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Company Profile

RTX Corporation (NYSE: RTX) is an aerospace and defense company that develops and manufactures products and systems for commercial aviation, business aviation, military aircraft and government customers. Its portfolio includes aircraft engines, avionics, flight-control systems, cabin interiors, communications equipment, air and missile defense systems, precision weapons, radars and advanced sensors.

The company operates through three principal businesses: Collins Aerospace, which supplies aerospace systems and components; Pratt & Whitney, which designs and produces aircraft engines and related services; and Raytheon, which provides defense and intelligence technologies.