RTX Co. (NYSE:RTX) Stock Position Lowered by Jennison Associates LLC

Jennison Associates LLC trimmed its position in shares of RTX Co. (NYSE:RTX) by 38.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 439,640 shares of the company’s stock after selling 273,572 shares during the period. Jennison Associates LLC’s holdings in RTX were worth $36,991,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Duality Advisers LP increased its holdings in shares of RTX by 9.2% in the 4th quarter. Duality Advisers LP now owns 66,232 shares of the company’s stock valued at $5,573,000 after purchasing an additional 5,590 shares during the period. MCF Advisors LLC increased its stake in RTX by 3.9% in the 4th quarter. MCF Advisors LLC now owns 9,828 shares of the company’s stock valued at $827,000 after buying an additional 372 shares during the period. Capital Investment Advisory Services LLC lifted its position in RTX by 3.7% in the 4th quarter. Capital Investment Advisory Services LLC now owns 9,295 shares of the company’s stock worth $782,000 after buying an additional 334 shares in the last quarter. Brendel Financial Advisors LLC acquired a new stake in shares of RTX during the 4th quarter valued at $208,000. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in shares of RTX by 19.7% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 3,688 shares of the company’s stock valued at $310,000 after buying an additional 607 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the sale, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

RTX has been the subject of several recent research reports. Citigroup increased their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Robert W. Baird raised their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. 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. Susquehanna increased their price objective on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday. Finally, Barclays lifted their target price on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $96.27.

RTX Stock Performance

Shares of RTX opened at $101.02 on Thursday. The company has a market capitalization of $134.32 billion, a PE ratio of 39.62, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.78. RTX Co. has a one year low of $68.56 and a one year high of $103.89. The company’s fifty day moving average price is $95.16 and its 200 day moving average price is $87.21.

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

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were paid a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.34%. RTX’s payout ratio is 92.55%.

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.