RTX Target of Unusually Large Options Trading (NYSE:RTX)

RTX Co. (NYSE:RTX) saw some unusual options trading activity on Thursday. Stock traders purchased 36,001 call options on the stock. This represents an increase of approximately 44% compared to the typical volume of 25,004 call options.

Insider Buying and Selling at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Institutional Trading of RTX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its holdings in shares of RTX by 8.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 2,650 shares of the company’s stock valued at $266,000 after purchasing an additional 199 shares during the last quarter. AMG National Trust Bank boosted its holdings in shares of RTX by 114.2% in the 2nd quarter. AMG National Trust Bank now owns 88,052 shares of the company’s stock valued at $8,840,000 after purchasing an additional 46,948 shares during the last quarter. POM Investment Strategies LLC boosted its holdings in shares of RTX by 13.2% in the 2nd quarter. POM Investment Strategies LLC now owns 1,613 shares of the company’s stock valued at $162,000 after purchasing an additional 188 shares during the last quarter. Optas LLC acquired a new position in shares of RTX in the 2nd quarter valued at $267,000. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of RTX by 5.6% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 44,688 shares of the company’s stock valued at $4,486,000 after purchasing an additional 2,376 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RTX shares. Bank of America increased their target price 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. Wells Fargo & Company reduced their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday. Citigroup raised their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Finally, Susquehanna raised their price objective on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Hold” and an average price target of $143.38.

RTX Price Performance

Shares of RTX traded up $8.61 during mid-day trading on Thursday, reaching $113.44. 14,996,287 shares of the company’s stock were exchanged, compared to its average volume of 7,453,688. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $104.27 and a two-hundred day simple moving average of $98.02. RTX has a 52-week low of $68.56 and a 52-week high of $115.82. The company has a market cap of $150.82 billion, a price-to-earnings ratio of 44.49, a PEG ratio of 1.87 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data 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. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same period last year, the company posted $1.22 EPS. The company’s revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts predict that RTX will post 5.4 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.22%. RTX’s payout ratio is currently 98.82%.

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.