Stock Traders Purchase Large Volume of RTX Call Options (NYSE:RTX)

RTX Co. (NYSE:RTX) was the target of unusually large options trading activity on Wednesday. Stock investors bought 45,338 call options on the company. This is an increase of approximately 139% compared to the typical daily volume of 18,985 call options.

Insider Transactions at RTX

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction that occurred on 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 owns 88,509 shares in the company, valued at $10,090,026. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of RTX

A number of institutional investors have recently added to or reduced their stakes in the stock. RFG Advisory LLC grew its holdings in shares of RTX by 96.1% in the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after acquiring an additional 19,779 shares during the period. Robinson Smith Wealth Advisors LLC purchased a new position in shares of RTX in the fourth quarter valued at $672,000. Gryphon Financial Partners LLC purchased a new position in shares of RTX in the fourth quarter valued at $474,000. Edge Capital Group LLC raised its stake in shares of RTX by 37.7% during the 4th quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock worth $15,896,000 after buying an additional 51,735 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of RTX by 7.0% in the 4th quarter. Rafferty Asset Management LLC now owns 360,036 shares of the company’s stock worth $30,293,000 after buying an additional 23,662 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on RTX shares. Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Susquehanna raised their price objective on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Robert W. Baird boosted their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company cut their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada upped their price objective on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $157.31.

RTX Price Performance

Shares of NYSE:RTX opened at $120.90 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $116.88 and a 200 day moving average price of $107.00. RTX has a 52 week low of $68.56 and a 52 week high of $123.70. The company has a market cap of $160.83 billion, a P/E ratio of 47.41, a PEG ratio of 2.12 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the previous year, the business earned $1.29 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts predict that RTX will post 5.45 earnings per share for the current year.

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.