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 following insider selling activity. The company traded as low as $129.43 and last traded at $129.94. 1,957,475 shares traded hands during mid-day 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 firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. In related news, EVP Ramsaran Maharajh sold 19,431 shares of the firm's stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

RTX has been the topic of several analyst reports. Argus upgraded shares of RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and raised their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. StockNews.com lowered shares of RTX from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. UBS Group upgraded shares of RTX from a "neutral" rating to a "buy" rating and raised their price target for the company from $142.00 to $147.00 in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and an average price target of $163.40.

RTX Stock Down 3.9 %

The stock has a market capitalization of $171.40 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The business's 50-day moving average is $123.30 and its two-hundred day moving average is $121.59. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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

RTX Announces Dividend

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 paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, February 21st. RTX's dividend payout ratio (DPR) is presently 70.99%.

Hedge Funds Weigh In On RTX

Institutional investors have recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in RTX during the third quarter worth about $29,000. 10Elms LLP purchased a new position in RTX during the fourth quarter worth about $29,000. Fairway Wealth LLC purchased a new position in RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management raised its stake in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares during the period. Finally, Greenline Partners LLC purchased a new position in RTX during the fourth quarter worth about $34,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.