RTX (NYSE:RTX) Trading Down 2.9% After Insider Selling

RTX Co. (NYSE:RTX - Get Free Report)'s share price traded down 2.9% on Tuesday after an insider sold shares in the company. The company traded as low as $129.43 and last traded at $129.94. 1,957,475 shares changed hands during trading, a decline of 65% from the average session volume of 5,609,385 shares. The stock had previously closed at $133.83.

Specifically, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the transaction, the executive vice president now owns 29,742 shares in the company, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RTX shares. Wells Fargo & Company lifted their target price on shares of RTX from $151.00 to $156.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Bank of America boosted their price objective on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Royal Bank of Canada raised their target price on RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. UBS Group raised RTX from a "neutral" rating to a "buy" rating and boosted their price target for the company from $142.00 to $147.00 in a research note on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a "hold" rating to a "buy" rating and raised their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $163.40.

RTX Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $123.78 and a 200 day simple moving average of $121.70. The stock has a market capitalization of $171.35 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.96%. RTX's dividend payout ratio is currently 70.99%.

Hedge Funds Weigh In On RTX

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares during the period. Geode Capital Management LLC boosted its holdings in shares of RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after buying an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC grew its position in RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock valued at $2,204,198,000 after buying an additional 576,214 shares during the period. Franklin Resources Inc. increased its holdings in RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after buying an additional 603,159 shares during the last quarter. Finally, Norges Bank bought a new stake in RTX in the fourth quarter worth about $1,745,644,000. 86.50% of the stock is owned by institutional investors.

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.