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Maharajh Ramsaran, Executive Vice President and General Counsel at RTX Corp (NYSE:RTX), a $174 billion aerospace and defense giant, recently sold a significant portion of the company’s stock. On February 25, Ramsaran sold a total of 19,431 shares at prices ranging from $126.8104 to $126.8304 per share, amounting to approximately $2.46 million. The stock is currently trading near its 52-week high of $132.43, having gained over 10% year-to-date.
In addition to these sales, Ramsaran executed stock appreciation rights (SARs), acquiring 16,696 shares at $76.00 per share and 7,831 shares at $82.35 per share, with a total transaction value of about $1.91 million. These transactions resulted in a post-sale holding of 14,646 shares directly owned by Ramsaran. According to InvestingPro data, RTX trades at a P/E ratio of 36.4x and maintains relatively low volatility with a beta of 0.55.
The filing also noted a disposition of 15,096 shares at $126.77 per share, totaling approximately $1.91 million. Following these transactions, Ramsaran’s direct ownership stands at 14,646 shares, while an additional 3,850 shares are held indirectly through a savings plan trustee. For deeper insights into RTX’s valuation and 12 additional exclusive ProTips, visit InvestingPro.
In other recent news, RTX Corp. has been at the forefront of several significant developments. Pratt & Whitney, a division of RTX, secured a $1.5 billion contract with the U.S. Air Force to support the F119 engines powering F-22 Raptor jets, focusing on enhancing readiness and reducing maintenance costs. Additionally, Collins Aerospace, another RTX unit, won a contract to supply 144 ACES II® ejection seats for the U.S. Air Force’s F-15EX aircraft, continuing its collaboration with Boeing (NYSE:BA) Defense. In terms of analyst activity, UBS upgraded RTX Corp. from Neutral to Buy, raising the price target to $147, citing strong commercial and defense positioning. Moreover, Raytheon (NYSE:RTN), an RTX business unit, completed successful subsystem demonstrations for the U.S. Army’s Next-Generation Short-Range Interceptor program, aiming to replace the Stinger® missile system. Meanwhile, the defense sector is facing challenges as reports of potential Pentagon budget cuts surface, raising concerns about future revenue streams for companies like RTX. Investors are closely monitoring these developments, weighing the impact of budget cuts against RTX’s diverse portfolio and long-term contracts. These recent activities underscore RTX’s ongoing role in advancing aerospace and defense technologies.
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