Stock Traders Buy High Volume of RTX Call Options (NYSE:RTX)

RTX Co. (NYSE:RTX - Get Free Report) was the target of some unusual options trading on Friday. Investors acquired 22,199 call options on the stock. This is an increase of 72% compared to the typical volume of 12,919 call options.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president now directly owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of RTX in the fourth quarter worth about $1,745,644,000. Nuveen LLC bought a new position in shares of RTX in the first quarter worth about $916,739,000. GAMMA Investing LLC raised its stake in shares of RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after buying an additional 4,135,349 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after buying an additional 3,164,844 shares during the period. Finally, Amundi raised its stake in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after purchasing an additional 2,854,928 shares during the period. Institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

RTX has been the subject of several recent analyst reports. UBS Group boosted their price objective on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Cowen reissued a "buy" rating on shares of RTX in a report on Friday, May 23rd. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a report on Wednesday, May 14th. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of "Buy" and an average price target of $159.82.

RTX Stock Up 3.2%

RTX stock traded up $4.51 during midday trading on Friday, hitting $145.49. The stock had a trading volume of 7,709,668 shares, compared to its average volume of 5,390,280. The firm has a market cap of $194.36 billion, a price-to-earnings ratio of 40.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. The business has a 50-day moving average of $130.91 and a two-hundred day moving average of $126.33. RTX has a 52-week low of $99.07 and a 52-week high of $149.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. As a group, equities research analysts forecast that RTX will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.68 dividend. This is an increase from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.87%. RTX's dividend payout ratio is currently 79.77%.

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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