RTX Corp (NYSE:RTX) President of Collins Aerospace, Stephen J. Timm, has recently engaged in significant trading activity involving the company's stock, according to a new SEC filing. Timm sold a total of 19,880 shares of common stock at a weighted average price of $105.7155, netting a total of approximately $2.1 million. The transactions occurred on May 10, 2024, and were disclosed in a Form 4 filing with the Securities and Exchange Commission.
The filing also revealed that Timm acquired a considerable number of shares through the exercise of stock appreciation rights (SARs), which were subsequently settled in shares. The total value of the shares acquired by Timm through these exercises was estimated at $9.84 million, with prices ranging from $71.62 to $90.73 per share. These transactions indicate a significant level of activity by the executive in managing his stock-based compensation.
Notably, the executive's sales transactions were part of a pre-planned series of trades, with prices for the sold shares ranging from $105.58 to $105.92, as detailed in a footnote of the filing. The footnote also specifies that full information regarding the number of shares sold at each separate price is available upon request from the SEC, RTX Corp, or any security holder of the issuer.
Following the reported transactions, Timm's direct holdings in RTX Corp have changed, reflecting both the acquisition and disposition of shares. RTX Corp investors and followers of executive trading patterns may find this information relevant as they assess the stock's performance and the confidence level of company insiders.
For those interested in the specifics of the executive's transactions, the SEC filing is publicly available and provides detailed information on the shares acquired and disposed of, as well as the nature of ownership following the reported transactions.
InvestingPro Insights
In light of recent trading activity by RTX Corp's Collins Aerospace President, Stephen J. Timm, investors may be keen on understanding the current financial health and market position of RTX Corp. According to InvestingPro data, RTX Corp boasts a robust market capitalization of $140.29 billion as of Q1 2024. The company's P/E ratio stands at a high 42.34, indicating a premium market valuation of its earnings. Despite this, RTX has demonstrated a solid revenue growth of 3.56% over the last twelve months as of Q1 2024, which could justify the higher earnings multiple to some extent.
From the perspective of InvestingPro Tips, it's notable that RTX management has been actively buying back shares, which could be a sign of confidence in the company's value and future prospects. Additionally, RTX has maintained its dividend payments for 54 consecutive years, underscoring its commitment to returning value to shareholders. However, investors should be aware that 10 analysts have revised their earnings expectations downwards for the upcoming period, which could suggest a need for caution.
For investors and traders looking for more in-depth analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/RTX. By using the coupon code PRONEWS24, users can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a more comprehensive look at RTX Corp's financials and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.