147,741 RTX Corporation $RTX Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its RTX stake by 34.2% in the third quarter, selling 147,741 shares and ending the period with 284,365 shares valued at about $52.6 million. Institutional investors collectively own 86.5% of RTX.
• RTX reported quarterly EPS of $2.26, above the $1.78 consensus, while revenue rose 11.1% year over year to $24.96 billion. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $231.24.
• RTX declared a quarterly dividend of $0.73 per share, or $2.92 annually, representing a 1.5% yield. Two company executives also reported share sales during the period.

Allspring Global Investments Holdings LLC decreased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 34.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 284,365 shares of the company's stock after selling 147,741 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in RTX were worth $52,610,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortress Financial Group LLC bought a new position in RTX in the 2nd quarter valued at about $358,000. Evergreen Advisors LLC bought a new stake in shares of RTX during the first quarter worth approximately $31,000. BOK Financial Private Wealth Inc. bought a new stake in shares of RTX during the second quarter worth approximately $36,000. Next Level Wealth Planning LLC bought a new stake in shares of RTX during the third quarter worth approximately $41,000. Finally, Groupe la Francaise grew its position in shares of RTX by 50.9% in the second quarter. Groupe la Francaise now owns 261 shares of the company's stock valued at $45,000 after purchasing an additional 88 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RTX shares. Morgan Stanley reiterated an "overweight" rating and set a $240.00 target price (up from $220.00) on shares of RTX in a research note on Friday, July 24th. TD Cowen reduced their price target on RTX from $240.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, October 9th. UBS Group upped their price objective on RTX from $209.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday, October 21st. Weiss Ratings upgraded RTX from a "buy (b)" rating to a "buy (a-)" rating in a research report on Thursday, October 22nd. Finally, BNP Paribas Exane lifted their target price on RTX from $220.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $231.24.

Insiders Place Their Bets

In other news, EVP Ramsaran Maharajh sold 13,655 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $223.92, for a total transaction of $3,057,627.60. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,952,161.28. This represents a 50.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dantaya Williams sold 9,071 shares of the business's stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $201.70, for a total value of $1,829,620.70. Following the completion of the transaction, the executive vice president directly owned 16,930 shares of the company's stock, valued at approximately $3,414,781. This trade represents a 34.89% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company's stock.

RTX Stock Up 2.1%

Shares of RTX opened at $200.39 on Wednesday. RTX Corporation has a 12 month low of $166.74 and a 12 month high of $226.88. The firm's 50 day moving average is $193.00 and its 200-day moving average is $195.54. The stock has a market capitalization of $270.41 billion, a PE ratio of 32.53, a P/E/G ratio of 2.17 and a beta of 0.30. The company has a current ratio of 1.05, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.48. The business had revenue of $24.96 billion during the quarter, compared to analysts' expectations of $24.11 billion. RTX had a return on equity of 14.89% and a net margin of 8.75%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.70 earnings per share. Equities research analysts forecast that RTX Corporation will post 7.73 EPS for the current year.

RTX Announces Dividend

The business 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 dividend of $0.73 per share. 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 presently 47.40%.

RTX News Summary

Here are the key news stories impacting RTX this week:

• Positive Sentiment: An outlook piece points to potential margin expansion and cash-flow growth in 2027, suggesting improving profitability could support RTX’s financial performance. RTX sees margin expansion, cash flow growth in 2027
• Positive Sentiment: Raytheon completed a third successful flight test of its DeepStrike JR3 training rocket for the U.S. Army. The milestone advances the program, although it is not itself confirmation of a production award. Raytheon advances Joint Reduced Range Rocket with third successful flight test
• Positive Sentiment: RTX’s Raytheon reportedly plans to increase Tomahawk and AMRAAM missile production substantially by 2030, signaling potential long-term demand and growth opportunities. Tomahawk, AMRAAM missiles could see fourfold production surge by 2030 under RTX plan
• Positive Sentiment: Zacks added RTX to its Rank #1 (Strong Buy) lists, a favorable analyst-screening signal, though such rankings do not guarantee future returns. New Strong Buy Stocks for November 10th
• Neutral Sentiment: A valuation article asks whether RTX’s share price is supported by expected cash generation after substantial three-year gains, highlighting valuation as a consideration alongside recent defense wins. Is RTX Still Near Fair Value After New Defense Wins?

RTX Profile

RTX Corporation is an aerospace and defense company whose businesses include Collins Aerospace, Pratt & Whitney and Raytheon. The company serves commercial aviation, military and government customers around the world. Collins Aerospace develops aircraft systems and components, including avionics, communications, flight controls and cabin equipment. Pratt & Whitney designs and manufactures aircraft engines and provides related maintenance services. Raytheon develops defense systems and technologies, including air and missile defense, sensors and precision weapons.

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RTX Corporation (NYSE:RTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.