RTX Corporation (NYSE:RTX) Insider Philip J. Jasper Sells 12,847 Shares

Key Points

• Insider Philip J. Jasper sold 12,847 shares of RTX Corporation, reducing his ownership by 42.08% and realizing approximately $2.03 million from the sale.
• RTX's most recent quarterly earnings report revealed an EPS of $1.56, surpassing analysts' estimates of $1.45, with revenues of $21.58 billion.
• The company announced a quarterly dividend of $0.68 per share, which is set to be paid to investors on September 4th, yielding 1.7% annually.

RTX Corporation (NYSE:RTX - Get Free Report) insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the transaction, the insider directly owned 17,684 shares in the company, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

RTX Stock Down 0.3%

RTX stock traded down $0.44 during mid-day trading on Wednesday, reaching $155.89. 4,111,227 shares of the company's stock were exchanged, compared to its average volume of 4,975,511. The company has a fifty day moving average of $146.63 and a 200-day moving average of $134.81. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The company has a market cap of $208.67 billion, a P/E ratio of 25.97, a P/E/G ratio of 2.88 and a beta of 0.69. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79.

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

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. RTX's payout ratio is currently 59.78%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price for the company in a research report on Friday, April 25th. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the company a "market perform" rating in a research note on Friday, July 11th. The Goldman Sachs Group raised their target price on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Finally, Wells Fargo & Company lifted their price target on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

Hedge Funds Weigh In On RTX

A number of institutional investors and hedge funds have recently modified their holdings of RTX. Nuveen LLC acquired a new stake in RTX during the 1st quarter worth $916,739,000. GAMMA Investing LLC grew its position in RTX by 14,838.5% during 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. grew its position in RTX by 43.1% during 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 during the last quarter. Goldman Sachs Group Inc. grew its position in RTX by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock worth $845,784,000 after purchasing an additional 1,394,918 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after purchasing an additional 1,357,328 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Company Profile

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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