RTX Co. (NYSE:RTX) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC increased its position in RTX Co. (NYSE:RTX) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 451,463 shares of the company’s stock after purchasing an additional 11,823 shares during the period. Jennison Associates LLC’s holdings in RTX were worth $44,031,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Capital Research Global Investors lifted its holdings in RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after acquiring an additional 17,351,313 shares during the last quarter. Capital International Investors lifted its holdings in RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after acquiring an additional 11,163,222 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in RTX by 82.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after acquiring an additional 6,932,011 shares during the last quarter. Sanders Capital LLC lifted its holdings in RTX by 6.8% in the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after acquiring an additional 677,520 shares during the last quarter. Finally, Norges Bank bought a new position in RTX in the fourth quarter worth about $690,154,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RTX. Citigroup lifted their price target on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Susquehanna lifted their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. UBS Group lifted their price target on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird lifted their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company lifted their price target on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $98.33.

Insiders Place Their Bets

In other RTX news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other RTX news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,937 shares of company stock worth $12,256,952. Corporate insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX stock traded down $0.29 during mid-day trading on Monday, hitting $100.08. The company’s stock had a trading volume of 8,737,691 shares, compared to its average volume of 7,530,821. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $133.06 billion, a P/E ratio of 39.25, a P/E/G ratio of 1.76 and a beta of 0.82. RTX Co. has a twelve month low of $68.56 and a twelve month high of $108.65. The stock’s fifty day moving average price is $104.26 and its two-hundred day moving average price is $96.45.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 earnings per share. Research analysts forecast that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is 98.82%.

RTX Company 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.