RTX (NYSE:RTX) Stock: Insider Dantaya Williams Sells 9,071 Shares

RTX Corporation (NYSE:RTX) EVP Dantaya Williams sold 9,071 shares of RTX stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $201.70, for a total value of $1,829,620.70. Following the completion of the sale, the executive vice president directly owned 16,930 shares in the company, valued at $3,414,781. This represents a 34.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

RTX Stock Down 2.7%

Shares of RTX opened at $198.28 on Thursday. The stock has a 50 day moving average price of $194.31 and a 200 day moving average price of $195.61. RTX Corporation has a one year low of $166.74 and a one year high of $226.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.05. The stock has a market capitalization of $267.56 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.27 and a beta of 0.30.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.48. RTX had a return on equity of 14.89% and a net margin of 8.75%. The company had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.11 billion. During the same quarter last year, the firm posted $1.70 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts forecast that RTX Corporation will post 7.68 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, November 20th. RTX’s dividend payout ratio is 47.40%.

Key RTX News

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon won a phase-one DARPA contract to develop all-optical signal processing intended to help military operators detect and respond to threats faster. It adds to RTX’s technology pipeline, although the initial award is an early-stage development contract and no contract value was reported. Article: RTX’s Raytheon to develop new optical signal processing capability
• Positive Sentiment: An InvestorPlace commentary pointed to potential demand for Patriot systems, radars and other air-defense equipment as countries expand defenses. RTX’s large backlog and investments to increase production capacity support the opportunity, but delivery and cash-generation execution remain important. Article: America’s Military Rebuild Starts With a Manufacturing Problem
• Negative Sentiment: Political shifts following the midterm elections are creating a headwind for defense shares. Coverage said the prospect of a “blue wave” is boosting the broader market but dragging down defense stocks, offering a likely explanation for RTX’s weakness. Article: RTX and Other Defense Stocks Have a Midterm Headache
• Negative Sentiment: EVP Dantaya Williams sold 9,071 RTX shares, reducing her direct holdings by about 35%. The sale may weigh on sentiment, though the filing does not state her reason for selling. SEC filing for the insider transaction

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RTX shares. Argus set a $245.00 price target on shares of RTX and gave the stock a “buy” rating in a research report on Thursday, July 30th. Susquehanna raised their target price on RTX from $235.00 to $245.00 and gave the stock a “positive” rating in a research note on Friday, July 24th. Weiss Ratings upgraded RTX from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft cut shares of RTX from a “buy” rating to a “hold” rating and set a $208.00 price target on the stock. in a research report on Tuesday, October 13th. Finally, Citigroup reissued a “buy” rating on shares of RTX in a report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $231.24.

Institutional Trading of RTX

Several institutional investors have recently made changes to their positions in RTX. Lynx Capital Group Ltd. ADV acquired a new position in RTX during the third quarter worth approximately $4,568,000. Csenge Advisory Group lifted its stake in RTX by 8.2% in the third quarter. Csenge Advisory Group now owns 7,836 shares of the company’s stock valued at $1,455,000 after buying an additional 593 shares during the last quarter. D.B. Root & Company LLC boosted its holdings in shares of RTX by 5.9% in the third quarter. D.B. Root & Company LLC now owns 6,832 shares of the company’s stock valued at $1,268,000 after acquiring an additional 383 shares during the period. DMKC Advisory Services LLC boosted its holdings in shares of RTX by 0.8% in the third quarter. DMKC Advisory Services LLC now owns 22,371 shares of the company’s stock valued at $4,153,000 after acquiring an additional 169 shares during the period. Finally, Welch & Forbes LLC purchased a new position in shares of RTX during the third quarter worth approximately $195,370,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

About RTX

RTX Corporation (NYSE: RTX) is an aerospace and defense company that develops and manufactures products and systems for commercial aviation, business aviation, military aircraft and government customers. Its portfolio includes aircraft engines, avionics, flight-control systems, cabin interiors, communications equipment, air and missile defense systems, precision weapons, radars and advanced sensors.

The company operates through three principal businesses: Collins Aerospace, which supplies aerospace systems and components; Pratt & Whitney, which designs and produces aircraft engines and related services; and Raytheon, which provides defense and intelligence technologies.