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

Jennison Associates LLC increased its position in shares of RTX Co. (NYSE:RTX) by 15.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 520,742 shares of the company’s stock after purchasing an additional 69,285 shares during the period. Jennison Associates LLC’s holdings in RTX were worth $63,093,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Briaud Financial Planning Inc raised its position in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory acquired a new position in shares of RTX in the 2nd quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX during the 3rd quarter worth $29,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX during the 2nd quarter worth about $32,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in RTX in the 2nd quarter valued at about $41,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Up 0.2 %

RTX opened at $119.14 on Thursday. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a market capitalization of $158.58 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The business’s 50-day simple moving average is $122.13 and its 200-day simple moving average is $113.84.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the firm posted $1.25 EPS. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. RTX’s payout ratio is 72.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Morgan Stanley lifted their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Susquehanna increased their price target on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group raised their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, RTX presently has a consensus rating of “Hold” and an average price target of $177.27.

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.