Insider Selling: RTX Corporation (NYSE:RTX) Insider Sells 7,654 Shares of Stock

Key Points

• Troy D. Brunk, an insider at RTX Corporation, sold 7,654 shares of the company on August 12 for a total of $1,187,900.80, reducing his position by 31.76%.
• RTX reported a quarterly EPS of $1.56, beating estimates by $0.11 and showing a 9.4% year-over-year revenue increase to $21.58 billion.
• The company announced a quarterly dividend of $0.68 per share, with a yield of 1.7%, to be paid on September 4.

RTX Corporation (NYSE:RTX - Get Free Report) insider Troy D. Brunk sold 7,654 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total value of $1,187,900.80. Following the sale, the insider owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

RTX Trading Down 0.7%

RTX traded down $1.04 during trading hours on Friday, reaching $154.04. The company's stock had a trading volume of 4,593,662 shares, compared to its average volume of 4,988,229. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The stock has a market cap of $206.19 billion, a PE ratio of 33.85, a P/E/G ratio of 2.86 and a beta of 0.69. The business's 50-day moving average is $149.54 and its 200-day moving average is $136.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX - Get Free Report) last released 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. RTX had a return on equity of 12.89% and a net margin of 7.35%. The firm had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The firm's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders 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 yield of 1.8%. RTX's dividend payout ratio (DPR) is 59.78%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in RTX during the first quarter worth $26,000. PFS Partners LLC lifted its stake in RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company's stock worth $26,000 after purchasing an additional 89 shares in the last quarter. 10Elms LLP acquired a new position in RTX during the fourth quarter worth $29,000. LFA Lugano Financial Advisors SA acquired a new position in RTX during the second quarter worth $29,000. Finally, Access Investment Management LLC acquired a new position in RTX during the second quarter worth $31,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley boosted 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. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Royal Bank Of Canada reiterated an "outperform" rating and set a $170.00 price objective (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. UBS Group boosted their price objective on RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Bank of America boosted 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. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, RTX currently has a consensus rating of "Moderate Buy" and an average price target of $158.67.

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.