Investors Purchase High Volume of Call Options on RTX (NYSE:RTX)

RTX Co. (NYSE:RTX - Get Free Report) was the recipient of unusually large options trading on Wednesday. Traders purchased 72,539 call options on the company. This represents an increase of 158% compared to the typical volume of 28,070 call options.

RTX Stock Down 0.4 %

Shares of RTX stock traded down $0.37 on Wednesday, reaching $105.33. The company's stock had a trading volume of 5,686,923 shares, compared to its average volume of 7,936,755. The company has a market capitalization of $140.04 billion, a price-to-earnings ratio of 41.31, a P/E/G ratio of 1.90 and a beta of 0.84. The firm's fifty day simple moving average is $98.76 and its two-hundred day simple moving average is $90.09. RTX has a 52 week low of $68.56 and a 52 week high of $107.82. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. RTX's revenue was up 12.1% compared to the same quarter last year. Equities analysts anticipate that RTX will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from RTX's previous quarterly dividend of $0.59. RTX's payout ratio is currently 98.82%.

Insider Transactions at RTX

In other news, insider Stephen J. Timm sold 19,880 shares of the company's stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the company's stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares of the company's stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. In the last three months, insiders sold 120,042 shares of company stock worth $12,266,459. 0.13% of the stock is currently owned by corporate insiders.

Institutional Trading of RTX

Several hedge funds have recently bought and sold shares of the stock. Motco grew its holdings in RTX by 7.2% during the first quarter. Motco now owns 1,475 shares of the company's stock valued at $144,000 after purchasing an additional 99 shares during the period. Gold Investment Management Ltd. lifted its position in shares of RTX by 3.5% in the first quarter. Gold Investment Management Ltd. now owns 3,045 shares of the company's stock valued at $297,000 after acquiring an additional 103 shares in the last quarter. Insight Inv LLC lifted its position in shares of RTX by 0.6% in the first quarter. Insight Inv LLC now owns 17,299 shares of the company's stock valued at $1,687,000 after acquiring an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of RTX by 7.9% in the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company's stock valued at $141,000 after acquiring an additional 106 shares in the last quarter. Finally, Jacobsen Capital Management lifted its position in shares of RTX by 3.0% in the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company's stock valued at $327,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent analyst reports. Citigroup upped their price target on RTX from $95.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, April 24th. Susquehanna increased their target price on RTX from $110.00 to $119.00 and gave the stock a "positive" rating in a research report on Wednesday, April 24th. Barclays increased their target price on RTX from $90.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 30th. Bank of America increased their target price on RTX from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada increased their target price on RTX from $82.00 to $88.00 and gave the stock a "sector perform" rating in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, RTX currently has an average rating of "Hold" and an average target price of $96.93.

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.