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 sale, the insider owned 17,684 shares of the company's stock, valued at $2,790,888.88. This trade represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

RTX Price Performance

Shares of NYSE RTX traded down $0.78 during midday trading on Friday, hitting $154.98. The stock had a trading volume of 3,666,241 shares, compared to its average volume of 5,096,528. The company has a market capitalization of $207.45 billion, a PE ratio of 34.06, a P/E/G ratio of 2.85 and a beta of 0.69. The stock has a 50 day simple moving average of $147.87 and a 200-day simple moving average of $135.46. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last released 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 company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 earnings per share. On average, sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. RTX's dividend payout ratio is currently 59.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RTX shares. Barclays raised their price target on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the stock a "market perform" rating in a research note on Friday, July 11th. Bank of America raised their price objective on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, 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. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $158.67.

Institutional Investors Weigh In On RTX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after purchasing an additional 1,357,328 shares during the period. Massachusetts Financial Services Co. MA raised its position in RTX by 9.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 15,958,191 shares of the company's stock valued at $2,330,215,000 after purchasing an additional 1,361,071 shares during the period. Northern Trust Corp raised its position in RTX by 8.4% in the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock valued at $1,494,257,000 after purchasing an additional 997,806 shares during the period. 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 valued at $1,216,063,000 after buying an additional 3,164,844 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of RTX by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock valued at $1,371,171,000 after buying an additional 104,139 shares during the period. Hedge funds and other institutional investors 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.