Insider Selling: RTX Co. (NYSE:RTX) CEO Sells $482,790.00 in Stock

RTX Co. (NYSE:RTX) CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The sale was disclosed in a document filed with the SEC, which is available through this link.

RTX Price Performance

NYSE RTX opened at $116.45 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $154.91 billion, a P/E ratio of 45.67, a P/E/G ratio of 2.08 and a beta of 0.82. RTX Co. has a 12-month low of $68.56 and a 12-month high of $118.30. The firm’s fifty day simple moving average is $105.54 and its two-hundred day simple moving average is $99.28.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same period in the prior year, the company posted $1.29 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts forecast that RTX Co. will post 5.44 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is presently 98.82%.

Analyst Ratings Changes

A number of equities analysts have recently commented on RTX shares. Melius Research raised their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Susquehanna increased their price target on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. UBS Group lifted their price objective on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $153.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hohimer Wealth Management LLC grew its holdings in shares of RTX by 14.4% during the second quarter. Hohimer Wealth Management LLC now owns 35,806 shares of the company’s stock valued at $3,595,000 after buying an additional 4,516 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its stake in RTX by 2.0% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 16,171 shares of the company’s stock valued at $1,623,000 after purchasing an additional 319 shares during the last quarter. Pursue Wealth Partners LLC acquired a new position in shares of RTX in the second quarter valued at about $216,000. Belpointe Asset Management LLC raised its stake in shares of RTX by 109.1% in the second quarter. Belpointe Asset Management LLC now owns 28,836 shares of the company’s stock worth $2,895,000 after purchasing an additional 15,047 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of RTX by 97.1% during the second quarter. Larson Financial Group LLC now owns 4,168 shares of the company’s stock worth $418,000 after purchasing an additional 2,053 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.