(As of December 12, 2025 | Post Q3 2025 earnings and recent insider transactions)
Current market capitalization: ≈ $238 billion (based on ~$177.80/share and 1.34 billion shares outstanding)
Introduction
RTX Corporation (NYSE: RTX), formed in 2020 from the merger of United Technologies and Raytheon, is a global leader in aerospace and defense, operating through Collins Aerospace (avionics, interiors), Pratt & Whitney (engines), and Raytheon (missiles, radars, cybersecurity). Headquartered in Arlington, Virginia, it serves commercial aviation, military, and space markets with a $251B backlog. Public since 1920 (via legacy entities), it uses a single-class share structure (one vote per share) for aligned governance. Ownership is institutionally concentrated (~82%), insiders ~0.08-0.41%, retail ~18-20%. The table below details the top 10 from Q3 2025 13F filings and SEC data, with values at current market cap. Recent activity: $5.2M in insider transactions (Oct 2025, mostly sales); $15B+ YTD buybacks reducing shares ~0.5% YoQ.
| Rank | Owner / Stakeholder | Ownership % | Approx. Value ($238B valuation) | Detailed Notes |
|---|---|---|---|---|
| 1 | Vanguard Group Inc. | 9.16% | $21.8 billion | Largest holder via index funds (e.g., VTI, VOO); owns ~122.78M shares as of Sep 30, 2025. Passive with ~$9.3T AUM; added ~1.9% in Q3 2025; core S&P 500 weighting (~6%). No direct control; emphasizes aerospace stability. |
| 2 | BlackRock Inc. | 7.54% | $17.9 billion | Holds ~101.15M shares through iShares ETFs (e.g., IVV); passive/active mix. Increased ~16.9% in Q3 2025; board observer on governance/ESG. Key in defense funds; RTX ~0.3% of portfolio. |
| 3 | State Street Corporation | 6.81% | $16.2 billion | Owns ~91.25M shares via SPDRs (e.g., SPY); fully passive. Added ~9.2% in Q3; votes proxies on exec comp and sustainability. ~4% of industrials holdings; supports $20B annual buybacks. |
| 4 | Capital Research Global Investors | 5.68% | $13.5 billion | ~76.2M shares in growth strategies; active manager. Added ~18% in Q3; focuses on backlog ($251B, up 5% YoY); advisory on R&D. |
| 5 | Capital International Investors | 4.10% | $9.8 billion | ~54.9M shares; active with Q3 additions. Holds for defense primes (e.g., hypersonics); ~2% of portfolio. |
| 6 | Geode Capital Management, LLC | 2.43% | $5.8 billion | Fidelity affiliate with ~32.6M shares in index trackers; passive. Increased ~18% in Q3; tracks Nasdaq 100; minimal voting power. |
| 7 | Dodge & Cox | 2.00% | $4.8 billion | ~26.8M shares; value-oriented. Trimmed ~2% in Q3 on valuation; long-term holder aligned with margins (up 190bps to 13.8%). |
| 8 | JPMorgan Chase & Co. | 1.80% | $4.3 billion | ~24.1M shares in asset management; index/active blend. Up ~1% in Q3; provides banking/debt for RTX's $10B+ cash reserves. |
| 9 | Morgan Stanley | 1.20% | $2.9 billion | ~16.1M shares via wealth/ETFs; active in advisory. Flat QoQ; engages on shareholder proposals re: emissions. |
| 10 | Fisher Asset Management LLC | 1.00% | $2.4 billion | ~13.4M shares; growth-focused. Stable QoQ; bullish on commercial OEM (up 13% YoY). |
Total Top 10 = ~50.25% | Remaining: Other Institutions (~32%), Other Insiders (~0.33%, e.g., Christopher T. Calio CEO at ~0.01%), Retail (~18%) | Grand Total = 100%
Conclusion
As of December 2025, RTX's ownership is institutionally led (~82% total) by passive giants like Vanguard and BlackRock, providing stability for its $22.5B Q3 2025 revenue (up 12% YoY, 13% organic) and $1.70 adjusted EPS (up 17% YoY), with FY2025 guidance raised to $86.5-87B sales (up 8-9% organic) and $6.10-6.20 EPS amid $251B backlog. Insiders (~0.41% combined) reflect routine sales ($5.2M Oct 2025) amid expansions (e.g., Collins up 8%), while retail's ~18% stake highlights defense appeal. With $238B market cap (up 53% YoY) and $20B buybacks authorized, expect ~0.5% annual share reductions, minor institutional rebalancing in Q4 13Fs (due Feb 2026), and Q4 EPS ~$1.56. This structure supports aerospace dominance via $2.92 annual dividends (1.64% yield). For filings, visit SEC EDGAR or RTX's investor relations.