Insider Selling: RTX Corporation (NYSE:RTX) EVP Sells 1,462 Shares of Stock

Key Points

• RTX Corporation's EVP Ramsaran Maharajh sold 1,462 shares at an average price of $152.26, resulting in a total transaction value of $222,604.12, which represents a 9.98% decrease in the executive's holdings.
• The company's stock recently traded up 1.1% to reach $156.86, reflecting a market capitalization of approximately $209.96 billion with strong quarterly earnings reported.
• RTX announced a quarterly dividend of $0.68 per share, scheduled for payment on September 4th, with an annualized yield of 1.73%.

RTX Corporation (NYSE:RTX - Get Free Report) EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the transaction, the executive vice president owned 13,184 shares in the company, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

RTX Stock Up 1.1%

RTX traded up $1.64 during midday trading on Friday, reaching $156.86. The company's stock had a trading volume of 4,727,235 shares, compared to its average volume of 4,909,235. The firm has a market capitalization of $209.96 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 2.86 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $157.33. The stock's 50-day moving average is $143.48 and its 200-day moving average is $132.81.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. As a group, research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.73%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Institutional Investors Weigh In On RTX

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after buying an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after buying an additional 159 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of RTX during the fourth quarter valued at approximately $301,000. UNIVEST FINANCIAL Corp grew its holdings in shares of RTX by 3.4% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 4,521 shares of the company's stock valued at $523,000 after buying an additional 148 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. grew its holdings in shares of RTX by 145.3% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 11,119 shares of the company's stock valued at $1,287,000 after buying an additional 6,587 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Cowen reissued a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $170.00 target price (up previously from $165.00) on shares of RTX in a research note on Wednesday. UBS Group boosted their target price on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research note on Wednesday. Susquehanna upped their price objective on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note on Wednesday. Finally, Citigroup upped their price objective on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, RTX currently has an average rating of "Moderate Buy" and a consensus target price of $154.88.

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.

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