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

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

RTX Trading Down 0.5 %

Shares of NYSE:RTX opened at $101.39 on Friday. The company has a market cap of $134.80 billion, a PE ratio of 39.76, a P/E/G ratio of 1.82 and a beta of 0.84. The company’s 50-day moving average price is $96.48 and its 200 day moving average price is $88.30. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. 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 (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $1.22 EPS. Sell-side analysts anticipate that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America increased their price objective on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company restated an “overweight” rating and issued a $120.00 price target on shares of RTX in a research report on Monday, April 1st. Susquehanna raised their price target on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Royal Bank of Canada raised their price target on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, Robert W. Baird raised their price target on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $96.93.

Hedge Funds Weigh In On RTX

Large investors have recently bought and sold shares of the stock. Bear Mountain Capital Inc. acquired a new position in RTX during the 4th quarter valued at about $25,000. Planned Solutions Inc. acquired a new position in shares of RTX in the 4th quarter worth approximately $30,000. Strengthening Families & Communities LLC acquired a new position in shares of RTX in the 3rd quarter worth approximately $28,000. Alaska Permanent Fund Corp acquired a new position in shares of RTX in the 1st quarter worth approximately $42,000. Finally, Financial Gravity Asset Management Inc. grew its stake in shares of RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Institutional investors and hedge funds 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.