RTX (NYSE:RTX) Shares Down 2.9% on Insider Selling

Shares of RTX Co. (NYSE:RTX) dropped 2.9% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $129.43 and last traded at $129.94. Approximately 1,957,475 shares were traded during trading, a decline of 65% from the average daily volume of 5,609,385 shares. The stock had previously closed at $133.83.

Specifically, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. In related news, EVP Ramsaran Maharajh sold 19,431 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the sale, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RTX. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Bank of America increased their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company lifted their target price on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average target price of $163.40.

RTX Price Performance

The firm has a market capitalization of $172.76 billion, a P/E ratio of 36.53, a P/E/G ratio of 2.11 and a beta of 0.82. The stock’s fifty day simple moving average is $123.06 and its 200 day simple moving average is $121.52. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

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

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. 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 dividend payout ratio is currently 70.99%.

Institutional Investors Weigh In On RTX

Several institutional investors have recently added to or reduced their stakes in RTX. CX Institutional raised its position in shares of RTX by 21.9% in the 4th 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 during the last quarter. National Pension Service grew its stake in RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after purchasing an additional 375,781 shares during the last quarter. LRI Investments LLC increased its holdings in shares of RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after purchasing an additional 4,732 shares during the period. Napa Wealth Management acquired a new stake in shares of RTX in the third quarter worth $1,307,000. Finally, Czech National Bank grew its position in RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after purchasing an additional 17,608 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.