Allspring Global Investments Holdings LLC Grows Stock Holdings in RTX Co. (NYSE:RTX)

Allspring Global Investments Holdings LLC lifted its position in shares of RTX Co. (NYSE:RTX) by 10.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 435,633 shares of the company’s stock after purchasing an additional 41,779 shares during the period. Allspring Global Investments Holdings LLC’s holdings in RTX were worth $43,733,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Lynx Investment Advisory bought a new stake in shares of RTX in the 2nd quarter worth approximately $26,000. Alaska Permanent Fund Corp bought a new stake in RTX in the first quarter valued at $42,000. Fairman Group LLC purchased a new position in RTX during the 4th quarter valued at $38,000. MFA Wealth Advisors LLC bought a new position in RTX in the 2nd quarter worth $47,000. Finally, Beaird Harris Wealth Management LLC increased its position in shares of RTX by 42.2% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 139 shares during the period. 86.50% of the stock is owned by institutional investors.

Insider Activity at RTX

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now owns 45,208 shares in the company, valued at approximately $5,197,111.68. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last quarter. Company insiders own 0.13% of the company’s stock.

RTX Stock Down 0.1 %

RTX traded down $0.09 during trading on Tuesday, hitting $118.61. 250,835 shares of the company’s stock traded hands, compared to its average volume of 7,167,070. The stock has a market capitalization of $157.69 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 2.08 and a beta of 0.82. The company’s 50 day simple moving average is $108.87 and its two-hundred day simple moving average is $102.51. RTX Co. has a 12-month low of $68.56 and a 12-month high of $119.73. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

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

RTX Announces Dividend

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 issued a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. RTX’s payout ratio is 98.82%.

Analysts Set New Price Targets

Several analysts have commented on RTX shares. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada upped their price target on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. TD Cowen boosted their target price on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Barclays increased their price target on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $153.47.

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.