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Cedar Rapids, Iowa 52401
Former Rockwell Collins President and Raytheon Technologies officer Kelly Ortberg sold 50.4 percent of the company stock he directly owned last week, according to a filing with the U.S. Securities and Exchange Commission.
Ortberg sold 60,000 shares — some at $84.75 per share and some at $85.25 per share — for about $5.1 million on July 15, leaving him with 59,133.507 shares directly owned.
He also indirectly owns another 6,414 shares of Raytheon stock as a “savings plan trustee,” according to the SEC filing.
The sale by Ortberg, who remains on Raytheon’s board of directors, came just less than two weeks before the company’s second quarter earnings call, scheduled for July 27.
Ortberg most recently was a special adviser to Greg Hayes, Raytheon’s chief executive officer, before retiring earlier this year.
He led Rockwell Collins through the acquisition by United Technologies Corp. that transformed the company into Collins Aerospace. UTC and Raytheon Co. then merged to become Raytheon Technologies.
Ortberg and Raytheon Technologies could not be reached for comment Tuesday.
Collins Aerospace, a business unit of Raytheon Technologies, is Cedar Rapids’ largest employer.
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