Allspring Global Investments Holdings LLC Purchases 95,096 Shares of RTX Co. (NYSE:RTX)

Allspring Global Investments Holdings LLC boosted its position in shares of RTX Co. (NYSE:RTX) by 21.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 530,729 shares of the company’s stock after acquiring an additional 95,096 shares during the period. Allspring Global Investments Holdings LLC’s holdings in RTX were worth $64,303,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Briaud Financial Planning Inc raised its stake in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory purchased a new stake in RTX during the 2nd quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the 2nd quarter valued at approximately $32,000. Fairfield Financial Advisors LTD purchased a new stake in RTX during the 2nd quarter valued at approximately $41,000. Finally, Stephens Consulting LLC grew its holdings in RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after buying an additional 114 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RTX shares. Melius Research increased their price objective on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and lifted their target price for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note on Tuesday, July 30th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, RTX has a consensus rating of “Hold” and a consensus price target of $162.50.

Insider Buying and Selling

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock worth $20,861,880 over the last 90 days. 0.13% of the stock is owned by insiders.

RTX Stock Performance

Shares of RTX opened at $125.90 on Tuesday. The stock has a 50-day simple moving average of $120.91 and a 200-day simple moving average of $110.55. The stock has a market capitalization of $167.38 billion, a PE ratio of 49.37, a PEG ratio of 2.24 and a beta of 0.82. RTX Co. has a 1 year low of $72.52 and a 1 year high of $127.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. On average, analysts predict that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 98.82%.

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.