Insider Selling: RTX Co. (NYSE:RTX) CEO Sells $3,569,126.44 in Stock

RTX Co. (NYSE:RTX) CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

RTX Stock Up 0.8 %

Shares of RTX stock opened at $129.75 on Thursday. The company has a market capitalization of $172.85 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 2.11 and a beta of 0.78. RTX Co. has a 12-month low of $89.44 and a 12-month high of $135.36. The firm has a fifty day moving average of $123.56 and a 200-day moving average of $121.65. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities research analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Hedge Funds Weigh In On RTX

Several hedge funds have recently made changes to their positions in the business. CX Institutional grew its position in RTX by 21.9% in the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after purchasing an additional 11,706 shares in the last quarter. National Pension Service boosted its stake in shares of RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after buying an additional 375,781 shares during the last quarter. LRI Investments LLC grew its holdings in shares of RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after acquiring an additional 4,732 shares in the last quarter. Napa Wealth Management acquired a new stake in shares of RTX in the third quarter valued at about $1,307,000. Finally, Czech National Bank raised its holdings in RTX by 6.5% during the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after acquiring an additional 17,608 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on RTX shares. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Vertical Research upgraded RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Morgan Stanley upped their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

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.