Jennison Associates LLC Sells 273,572 Shares of RTX Co. (NYSE:RTX)

Jennison Associates LLC lessened its position in RTX Co. (NYSE:RTX) by 38.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 quarter.

Other institutional investors also recently modified their holdings of the company. Northern Trust Corp raised its stake in RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after buying an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of RTX by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after acquiring an additional 60,319 shares during the last quarter. Sanders Capital LLC raised its stake in RTX by 20.2% in the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after acquiring an additional 1,682,928 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in RTX by 29.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after purchasing an additional 1,914,184 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in RTX by 9.8% during the third quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock worth $479,744,000 after purchasing an additional 593,305 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Christopher T. Calio sold 367 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares in the company, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 in the last ninety days. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on RTX. TD Cowen lifted their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Robert W. Baird increased their target price 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 stock a “neutral” rating in a report on Wednesday. Citigroup upped their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $120.00 target price on shares of RTX in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $96.27.

RTX Trading Down 0.4 %

Shares of RTX stock opened at $101.02 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89. The company has a market capitalization of $134.32 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 1.84 and a beta of 0.88. The firm’s 50-day moving average price is $95.16 and its two-hundred day moving average price is $87.21.

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. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter last year, the business posted $1.22 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts forecast that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.34%. RTX’s dividend payout ratio (DPR) is currently 92.55%.

About RTX

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.