Insider Selling: RTX Co. (NYSE:RTX) VP Sells $528,780.84 in Stock

RTX Co. (NYSE:RTX) VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

RTX Price Performance

NYSE RTX opened at $128.69 on Friday. The stock has a market capitalization of $171.92 billion, a P/E ratio of 36.25, a P/E/G ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The business’s fifty day moving average is $128.26 and its two-hundred day moving average is $123.91. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.17.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is currently 79.77%.

Analyst Ratings Changes

A number of research firms have issued reports on RTX. Susquehanna cut their target price on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Wells Fargo & Company raised their target price on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Finally, Citigroup reduced their price target on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $161.06.

Hedge Funds Weigh In On RTX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new stake in shares of RTX in the first quarter worth $26,000. 10Elms LLP purchased a new position in RTX during the 4th quarter valued at about $29,000. Fairway Wealth LLC acquired a new position in shares of RTX in the 4th quarter valued at about $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Finally, Greenline Partners LLC acquired a new stake in shares of RTX during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.