Insider Selling: RTX Co. (NYSE:RTX) VP Sells 8,166 Shares of Stock

RTX Co. (NYSE:RTX) VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the sale, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

RTX Stock Up 2.1 %

RTX stock traded up $2.44 during mid-day trading on Tuesday, reaching $116.88. 6,023,452 shares of the company traded hands, compared to its average volume of 7,421,491. The stock has a market cap of $155.48 billion, a price-to-earnings ratio of 45.70, a P/E/G ratio of 2.02 and a beta of 0.82. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $117.03. The firm’s 50 day moving average price is $104.65 and its 200 day moving average price is $98.60. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping 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 business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter in the prior year, the company posted $1.29 earnings per share. RTX’s revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts predict that RTX Co. will post 5.42 EPS for the current fiscal year.

RTX Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. bought a new position in shares of RTX during the 4th quarter worth approximately $25,000. Briaud Financial Planning Inc increased its position in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in RTX during the second quarter worth $26,000. Tennessee Valley Asset Management Partners purchased a new position in RTX in the fourth quarter worth $38,000. Finally, Fairman Group LLC bought a new position in RTX in the 4th quarter valued at $38,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada boosted their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday. Bank of America raised their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group boosted their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Melius Research raised their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $151.71.

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.