RTX Co. (NYSE:RTX) Director Robert Kelly Ortberg Sells 10,295 Shares

RTX Co. (NYSE:RTX) Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

RTX Stock Performance

Shares of NYSE:RTX opened at $101.40 on Friday. The business’s 50-day simple moving average is $96.70 and its 200 day simple moving average is $88.49. The company has a market cap of $134.81 billion, a P/E ratio of 39.76, a PEG ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. RTX Co. has a one year low of $68.56 and a one year high of $103.89.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. On average, sell-side analysts forecast that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, May 16th. This is an increase from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.49%. RTX’s dividend payout ratio (DPR) is currently 92.55%.

Analyst Ratings Changes

RTX has been the subject of several analyst reports. Citigroup upped their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. UBS Group upped their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Bank of America raised their target price 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. TD Cowen upped their price target on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price target on shares of RTX in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $96.93.

Institutional Trading of RTX

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bear Mountain Capital Inc. purchased a new stake in RTX during the 4th quarter worth approximately $25,000. Planned Solutions Inc. acquired a new stake in shares of RTX during the fourth quarter worth approximately $30,000. Strengthening Families & Communities LLC acquired a new stake in shares of RTX during the third quarter worth approximately $28,000. Alaska Permanent Fund Corp bought a new stake in shares of RTX in the first quarter worth $42,000. Finally, Financial Gravity Asset Management Inc. boosted its stake in RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.