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

Shares of RTX Co. (NYSE:RTX) were down 2.9% on Tuesday after an insider sold shares in the company. The company 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 stock in a transaction that occurred on Thursday, February 27th. The shares were 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 in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction 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 sale, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the transaction, the executive vice president now owns 29,742 shares in the company, valued at $3,771,880.44. The trade was a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RTX shares. UBS Group raised RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $142.00 to $147.00 in a research report on Monday, February 24th. Royal Bank of Canada raised their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley boosted their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Bank of America upped their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

RTX Stock Down 3.1 %

The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a 50-day moving average price of $123.06 and a 200 day moving average price of $121.52. The firm has a market capitalization of $172.76 billion, a PE ratio of 36.53, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

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

Hedge Funds Weigh In On RTX

Institutional investors and hedge funds have recently made changes to their positions in the business. MidAtlantic Capital Management Inc. purchased a new position in RTX in the third quarter worth about $29,000. 10Elms LLP purchased a new position in shares of RTX in the 4th quarter worth approximately $29,000. Fairway Wealth LLC bought a new position in shares of RTX during the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management raised its holdings in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the period. Finally, Greenline Partners LLC bought a new stake in RTX in the fourth quarter worth $34,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.