Allspring Global Investments Holdings LLC Lowers Stock Holdings in RTX Corporation $RTX

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in RTX Corporation by 16.7%, now owning 574,333 shares valued at approximately $82.8 million.
• Despite Allspring's sell-off, other major investors such as Vanguard Group Inc. and Charles Schwab Investment Management Inc. increased their holdings, indicating continued institutional interest in RTX.
• RTX recently reported better-than-expected financial results with $1.56 EPS, exceeding analyst estimates, and set its FY 2025 guidance at 5.800-5.950 EPS.

Allspring Global Investments Holdings LLC lessened its holdings in RTX Corporation (NYSE:RTX - Free Report) by 16.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 574,333 shares of the company's stock after selling 115,209 shares during the period. Allspring Global Investments Holdings LLC's holdings in RTX were worth $82,813,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after buying an additional 1,357,328 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of RTX by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after acquiring an additional 104,139 shares during the last quarter. Invesco Ltd. grew its stake in RTX by 1.5% during the first quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock valued at $1,365,969,000 after acquiring an additional 154,544 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in RTX by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company's stock valued at $1,021,623,000 after acquiring an additional 65,493 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in RTX in the 1st quarter worth $916,739,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Up 0.7%

Shares of NYSE RTX opened at $158.83 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The company has a market cap of $212.59 billion, a P/E ratio of 34.91, a PEG ratio of 2.93 and a beta of 0.66. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $170.85. The firm has a 50-day simple moving average of $159.02 and a two-hundred day simple moving average of $145.30.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RTX shares. Royal Bank Of Canada restated an "outperform" rating and set a $170.00 price objective (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $195.00 price target on shares of RTX in a research note on Wednesday, October 8th. Citigroup upped their price objective on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Barclays raised their target price on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Finally, Bank of America boosted their price target on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.13.

Insiders Place Their Bets

In other news, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Troy D. Brunk sold 7,654 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the transaction, the insider owned 16,442 shares in the company, valued at approximately $2,551,798.40. The trade was a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,635 shares of company stock valued at $8,947,010. Insiders own 0.15% of the company's stock.

About RTX

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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