RTX (NYSE:RTX) Stock Price Down 2.9% After Insider Selling

RTX Co. (NYSE:RTX)’s share price traded down 2.9% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $129.43 and last traded at $129.94. 1,957,475 shares changed hands during trading, a decline of 65% from the average session volume of 5,609,385 shares. The stock had previously closed at $133.83.

Specifically, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on 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 transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares in the company, valued at approximately $3,771,880.44. The trade was a 39.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several brokerages have recently commented on RTX. Wells Fargo & Company raised their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Susquehanna raised their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $163.40.

RTX Price Performance

The company’s 50-day simple moving average is $123.30 and its 200 day simple moving average is $121.59. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $171.40 billion, a price-to-earnings ratio of 36.24, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data 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 return on equity of 12.45% and a net margin of 5.91%. Equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

Hedge Funds Weigh In On RTX

A number of institutional investors have recently made changes to their positions in RTX. 1620 Investment Advisors Inc. increased its position in RTX by 0.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after buying an additional 79 shares during the period. Fusion Capital LLC grew its stake in shares of RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after acquiring an additional 80 shares during the last quarter. McDonough Capital Management Inc increased its position in RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after acquiring an additional 80 shares during the period. New England Professional Planning Group Inc. raised its stake in RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after purchasing an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC boosted its holdings in RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after purchasing an additional 81 shares during the period. 86.50% of the stock is currently owned by institutional investors.

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.