RTX Co. (NYSE:RTX) CEO Sells $9,105,457.28 in Stock

RTX Co. (NYSE:RTX) CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

RTX Price Performance

NYSE RTX opened at $101.21 on Thursday. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89. The company has a market capitalization of $134.56 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. The firm’s 50 day moving average is $96.01 and its 200-day moving average is $88.12.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.22 earnings per share. Equities research analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.33%. RTX’s payout ratio is 92.55%.

Hedge Funds Weigh In On RTX

A number of institutional investors have recently added to or reduced their stakes in the company. Trust Co of Kansas increased its holdings in RTX by 988.1% during the first quarter. Trust Co of Kansas now owns 73,806 shares of the company’s stock worth $7,198,000 after buying an additional 67,023 shares during the last quarter. Rockline Wealth Management LLC boosted its position in RTX by 2.4% during the first quarter. Rockline Wealth Management LLC now owns 29,682 shares of the company’s stock worth $2,895,000 after purchasing an additional 702 shares during the period. Main Street Research LLC boosted its position in RTX by 33.2% during the first quarter. Main Street Research LLC now owns 3,819 shares of the company’s stock worth $372,000 after purchasing an additional 952 shares during the period. Schulhoff & Co. Inc. bought a new position in RTX during the first quarter worth $325,000. Finally, PDS Planning Inc boosted its position in RTX by 5.1% during the first quarter. PDS Planning Inc now owns 4,451 shares of the company’s stock worth $434,000 after purchasing an additional 217 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RTX has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Bank of America lifted their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Barclays lifted their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Susquehanna lifted their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, RTX has a consensus rating of “Hold” and an average target price of $96.93.

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.