Insider Selling: RTX Co. (NYSE:RTX) EVP Sells 16,922 Shares of Stock

RTX Co. (NYSE:RTX - Get Free Report) EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president now directly owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

RTX Stock Performance

NYSE RTX traded down $0.23 on Friday, hitting $138.84. The stock had a trading volume of 2,147,960 shares, compared to its average volume of 5,341,674. RTX Co. has a one year low of $99.07 and a one year high of $140.62. The stock has a market cap of $185.48 billion, a price-to-earnings ratio of 39.11, a P/E/G ratio of 2.11 and a beta of 0.60. The company's 50-day moving average is $129.50 and its two-hundred day moving average is $125.61. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. On average, analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.96%. RTX's payout ratio is presently 79.77%.

Analyst Ratings Changes

RTX has been the subject of a number of recent analyst reports. Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. JPMorgan Chase & Co. dropped their target price on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Citigroup cut their target price on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada reduced their price objective on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $159.82.

Institutional Investors Weigh In On RTX

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in RTX during the fourth quarter worth about $1,745,644,000. Nuveen LLC bought a new position in shares of RTX during the 1st quarter valued at about $916,739,000. GAMMA Investing LLC grew its stake in shares of RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after purchasing an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares in the last quarter. Finally, Amundi lifted its stake in RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after purchasing an additional 2,854,928 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.