RTX Corporation (NYSE: RTX ) is a company that designs and manufactures aerospace and defense systems used in commercial aviation, military applications, and space exploration. It is one of the world’s largest defense contractors, recently trading at $158 per share with a market value of approximately $212 billion.
Founded on a legacy defense business, RTX has grown to become a global provider of advanced technologies for national security and civil air travel. Steady defense budgets and a recovery in aerospace demand have made it a key holding company for institutions seeking stability and long-term cash flow. Its broad portfolio, government contracts, and deep technical moat provide RTX with advantages that cannot be easily replaced.
RTX was recently purchased by a variety of different investors of various hedge funds and sovereign wealth funds and active managers. A look at holdings and insider activity will give you a sense of what the biggest names are currently thinking about this stock.
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RTX is a designer and supplier of aerospace and defense systems for both commercial and military customers, making it one of the most important contractors in the industry. The company’s stock is mostly held by big institutions like Vanguard and State Street, meaning that much of the ownership is tied up in passive flows rather than active conviction. At the same time, some managers are shifting positions, providing insight into where confidence lies.
- Vanguard Group: 121.5 million shares, or 9.1%, valued at $19.3 billion. Up 2.2 million shares, or +1.9%.
- State Street: 112.7 million shares (8.4%), valued at $17.9 billion. Added 552K (+0.5%).
- Capital Research: 75.4 million shares or 5.6% for $1.2 billion. Down 2.4 million shares (-3.1%).
- BlackRock: 72.4 million shares (5.4%), valued at $11.5 billion. Down 347,000 shares (-0.5%).
- Capital International: 55.9 million shares or 4.2%, valued at $8.9 billion. Up 1.5 million shares, or +2.8%.
- Dodge & Cox: 41.8 million shares, or 3.1%, valued at $6.6 billion. Down 600,000 shares (-1.4%).
- Geode Capital: 29.1 million shares, or 2.2%, valued at $4.6 billion. Up 388,000 (+1.4%).
- JPMorgan Asset Management: 20.1 million shares (1.6%), about $3.3 billion. Big gain (+32.8%).
- Fisher Investments: 20.6 million shares (1.5%), valued at $3.3 billion. Added 837,000 (+4.2%).
- Norges Bank: 16.2 million shares (1.2%), about $2.6 billion. Up 1.1 million shares, or +7.1%.
- Morgan Stanley: 16.1 million shares (1.2%), valued at $2.6 billion. Unchanged (-0.1%).
One of the highlights of the last quarter was that Ratan Capital Management, led by Nehal Chopra, increased its stake in RTX by 1,000% to 55,000 shares, worth about $8 million. This surge appears to be a major bet on the stock’s continued strength.
Another big move came from Citadel Advisors, run by Ken Griffin, who increased their holdings by 738% to 1.34 million shares worth $196 million. This large increase suggests a growing confidence in RTX’s aerospace and defense industry.
Meanwhile, Moore Capital Management, led by Lewis Bacon, increased its position by 149% to about 170,000 shares, valued at about $25 million. As a global hedge fund, this increase represents meaningful confidence in RTX’s long-term prospects.
Notable on the institutional side is JPMorgan Asset Management’s 33% increase, which appears to be an expression of strong confidence in RTX’s long-term defensive exposure. Capital Research’s decline, on the other hand, likely reflects a cautious stance on valuation, while Norges Bank’s increase suggests that the sovereign wealth fund sees RTX as a stable defensive asset.
This mix shows a stable core of passive ownership, while selective active managers and hedge funds are leaning in. The largest buyers appear to be supporting RTX’s role as a trusted defensive compounder.
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Recent Insider Trading of RTX
Insider trading in RTX has been relatively quiet in recent months, with most transactions appearing to be small in size. This activity has been skewed toward small sales by management, which could suggest diversification, and the few insider purchases could be seen as indicative of selective confidence at current share price levels.
Recent insider trades include
- Kevin DaSilva (Treasurer): Sold about 8.7 million shares for about $156.
- Ramsaran Maharaj (Officer): Sold approximately 1.5 million shares at $152.
- Dantaya Williams (Officer): Sold approximately 16.9 million shares at $138.
- Amy Johnson (Executive): I sold a total of 13,000 shares at $127 in multiple small sales.
- Brian Rogers (Executive): Purchased approximately 2.9 million shares.
- Dennis Ramos (Director): Purchased approximately 2.7 million shares.
Most of the transactions have been on the sell side, and buying appears to be limited in size. The two smaller purchases may indicate some willingness from management to go further, but their size does not indicate strong conviction.
Insider activity appears cautious. The volume of selling is not large, but the lack of meaningful buying suggests that management may not believe the stock is significantly undervalued.
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What ownership and insider trading data can tell you
Ownership of RTX is dominated by large passive managers and is widely held across global portfolios. This stability is bolstered by selective buying by institutions such as JPMorgan, Fisher and Norges Bank, suggesting that some active managers and sovereign wealth funds continue to see RTX as a reliable defense. At the same time, not all investors are buying at current levels, according to trades from Capital Research and Dodge & Cox.
Insider activity, on the other hand, is more cautious. The pattern is skewed toward small-scale selling, and while a few insiders have bought shares, their purchases have been limited in size, which may suggest that management is taking a more cautious view compared to institutions that are increasing their exposure.
The messages are mixed. Large institutions are generally comfortable adding RTX, reinforcing its reputation as a defensive compounder, while insiders appear to be more hesitant. This balance suggests that while the stock looks stable from the outside, management may be waiting for more clarity before deciding to invest further.
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