RTX Corporation (NYSE: RTX) designs and manufactures aerospace and defense systems for commercial aviation, military applications and space exploration. It is one of the world’s largest defense contractors and recently traded at about $158 per share, with a market capitalization of about $212 billion.
Born out of a traditional defense business, RTX Corporation has evolved into a global provider of advanced technologies that fuel national security and civilian air travel. Bolstered by stable defense budgets and recovering aviation demand, the company has become a key holding company for organizations seeking long-term stability and cash flow. Its broad product portfolio, government contracts, and deep technological moat give RTX an advantage that cannot easily be replaced.
Today RTX is widely held by index funds, sovereign wealth vehicles, and active managers. Analysis of ownership and insider movements helps to understand how large investors currently view the stock.
Who are the main shareholders of RTX?
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RTX designs and supplies aerospace and defense systems for commercial and military customers and is one of the largest contractors in the industry. The company’s stock is largely held by index giants such as Vanguard and State Street, which means that much of the ownership is tied to passive flows rather than active convictions. At the same time, some managers have changed their positions, which gives a glimpse of where the trust is.
- Pioneer Group 121.5 million shares (9.1%), ~$19.3 billion. Added 2.2 million shares (+1.9%).
- State Street: 112.7 million shares (8.4%), ~$17.9 billion. Added 552K shares (+0.5%).
- Capital Research: 75.4 million shares (5.6%), ~$12 billion. Reduction in holdings of 2.4 million shares (-3.1%).
- BlackRock: 72.4 million shares (5.4%), ~$11.5 billion. Reduction in holdings of 347K shares (-0.5%).
- Capital International: 55.9 million shares (4.2%), ~$8.9 billion. Added 1.5 million shares (+2.8%).
- Dodge & Cox: 41.8 million shares (3.1%), ~$6.6 billion. Decrease of 0.6 million shares (-1.4%).
- Geode Capital: 29.1 million shares (2.2%), ~$4.6 billion. Added 388K (+1.4%).
- JPMorgan Asset Management: 21 million shares (1.6%), ~$3.3 billion. Significant increase (+32.8%).
- Fisher Investments: 20.6 million shares (1.5%), ~$3.3 billion. Added 837K (+4.2%).
- Norges Bank 16.2 million shares (1.2%), ~$2.6 billion. Added 1.1 million shares (+7.1%).
- Morgan Stanley: 16.1 million shares (1.2%), ~$2.6 billion. Flat (-0.1%).
Ratan Capital Management, led by Nehal Chopra, one of last quarter’s strengths, increased its stake in RTX by 1,000 percent to 55,000 shares, valued at about $8 million. The increase appears to be a major bet on the continued strength of the stock.
Citadel Advisors, managed by Ken Griffin, also made a big move, increasing its stake by 738 percent to 1.34 million shares worth $196 million. Such a large increase shows the company’s growing confidence in RTX’s aerospace and defense business.
Meanwhile, Moore Capital Management, led by Louis Bacon, increased its position by 149 percent to about 170,000 shares worth nearly $25 million. For a global hedge fund, the jump is a sign of confidence in RTX’s long-term prospects.
A positive point on the institutional front wasJPMorgan Asset Management’s 33 percent increase, which appears to be a sign of confidence in RTX’s long-term defensive exposure. In contrast, Capital Research’s decrease may reflect a more cautious approach to valuation, while Norges Bank’s increase suggests that the sovereign wealth fund sees RTX as a stable defensive holding.
This mix suggests that passive holdings to core assets remain stable, while selective active managers and hedge funds also come into play. The major buyer appears to support RTX’s role as a reliable producer of defense composite materials.
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RTX’s recent insider trading
RTX insider trading has been relatively quiet in recent months, with most transactions appearing to be small. Trading activity has favored small executive sell-offs, which may suggest diversification, while some insider trades indicate selective confidence in current stock price levels.
Here are some recent insider trading operations:
- Kevin Dasilva (Treasurer): sold ~8.7K shares for ~$156.
- Ramsaran Maharajh (Official): sold ~1.5K shares at ~$152.
- Dantaya Williams (official): sold about 16.9 thousand shares at about $138.
- Amy Johnson (officer): multiple small sales totaling about 13,000 shares at about $127.
- Brian Rogers (Official): buy ~2.9K shares.
- Denise Ramos (Director): buy ~2.7K shares
It appears that most of the transactions were sales with limited purchases. The two small purchases may indicate some willingness on the part of the leadership to increase its holdings, although their size does not indicate a strong conviction to do so.
Insider activity appears to be cautious. Although there is little selling, the lack of significant buying suggests that management may not consider the stock seriously undervalued.
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What does the data tell us about ownership and insider trading?
RTX’s ownership is largely held by the largest passive managers, making the stock widely present in global portfolios. Selective buying by institutions such as JP Morgan, Fisher, and Norges Bank reinforces this stability, suggesting that several active managers and sovereign wealth funds continue to view RTX as a reliable defense. Meanwhile, reductions made by Capital Research and Dodge & Cox suggest that not all investors are buying at current price levels.
On the other hand, insider activity seems to be more cautious. Stock purchases by insiders have been limited. This may indicate a more cautious view on the part of management than that of institutions that have increased their holdings.
The information is mixed. Large institutions are generally happy to increase their holdings in RTX, cementing its reputation as a defensive composites manufacturer, while insiders seem more hesitant. This balance suggests that the external view of the stock is stable, but leadership may be waiting for more clarity before committing further.
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