Allspring Global Investments Holdings LLC Has $38.41 Million Position in RTX Co. (NYSE:RTX)

Allspring Global Investments Holdings LLC boosted its holdings in shares of RTX Co. (NYSE:RTX) by 13.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 393,854 shares of the company’s stock after purchasing an additional 46,541 shares during the period. Allspring Global Investments Holdings LLC’s holdings in RTX were worth $38,413,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC boosted its holdings in RTX by 7.9% in the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock worth $141,000 after purchasing an additional 106 shares in the last quarter. Jacobsen Capital Management boosted its stake in shares of RTX by 3.0% during the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after acquiring an additional 114 shares in the last quarter. Diligent Investors LLC increased its holdings in shares of RTX by 1.4% during the 4th quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock valued at $739,000 after acquiring an additional 118 shares during the last quarter. Hummer Financial Advisory Services Inc raised its stake in shares of RTX by 1.7% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 7,334 shares of the company’s stock valued at $715,000 after acquiring an additional 120 shares in the last quarter. Finally, Lcnb Corp lifted its holdings in RTX by 1.8% in the 4th quarter. Lcnb Corp now owns 7,065 shares of the company’s stock worth $594,000 after purchasing an additional 122 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on RTX. Susquehanna increased their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. TD Cowen boosted their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Barclays raised their price target on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Robert W. Baird boosted their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company raised their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, RTX presently has an average rating of “Hold” and a consensus target price of $98.33.

Insider Transactions at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,937 shares of company stock valued at $12,256,952. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Up 0.3 %

Shares of RTX stock opened at $100.74 on Friday. The stock has a market cap of $133.93 billion, a P/E ratio of 39.51, a price-to-earnings-growth ratio of 1.77 and a beta of 0.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The stock has a fifty day moving average price of $104.33 and a 200 day moving average price of $95.99. RTX Co. has a one year low of $68.56 and a one year high of $108.65.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. Analysts predict that RTX Co. will post 5.39 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 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.50%. RTX’s dividend payout ratio is currently 98.82%.

RTX Company 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.