Allspring Global Investments Holdings LLC Acquires 126,789 Shares of RTX Corporation (NYSE:RTX)

Allspring Global Investments Holdings LLC increased its position in RTX Corporation (NYSE:RTX - Free Report) by 22.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,542 shares of the company's stock after purchasing an additional 126,789 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.05% of RTX worth $91,606,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. 1620 Investment Advisors Inc. boosted its stake in RTX by 0.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after purchasing an additional 79 shares in the last quarter. McDonough Capital Management Inc boosted its stake in RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock worth $603,000 after purchasing an additional 80 shares in the last quarter. Guardian Wealth Advisors LLC NC boosted its stake in RTX by 1.7% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after purchasing an additional 82 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its stake in RTX by 2.1% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after purchasing an additional 82 shares in the last quarter. Finally, CLG LLC boosted its stake in RTX by 2.3% in the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

RTX Price Performance

NYSE RTX opened at $144.64 on Friday. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. The stock has a market cap of $193.23 billion, a price-to-earnings ratio of 42.42, a PEG ratio of 2.61 and a beta of 0.63. The company's 50 day moving average is $134.87 and its two-hundred day moving average is $128.37. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. As a group, research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.88%. RTX's payout ratio is currently 79.77%.

Analyst Ratings Changes

RTX has been the topic of a number of analyst reports. Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Royal Bank Of Canada lowered their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research note on Friday, April 25th. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and upped their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. lowered their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $161.12.

Insider Activity

In related news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president now owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

RTX Profile

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.

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