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

Jennison Associates LLC boosted its position in RTX Co. (NYSE:RTX) by 15.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in RTX. Napa Wealth Management acquired a new position in RTX during the third quarter worth $1,307,000. Manning & Napier Advisors LLC acquired a new position in shares of RTX during the 2nd quarter worth $30,837,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after purchasing an additional 11,354 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of RTX in the third quarter valued at about $953,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in RTX by 36.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after buying an additional 97,749 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.2 %

Shares of RTX stock opened at $119.14 on Thursday. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The firm’s 50 day moving average price is $122.13 and its two-hundred day moving average price is $113.84. The stock has a market cap of $158.58 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

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

RTX Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RTX. UBS Group lifted their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Citigroup increased their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. lifted their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Melius Research increased their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and raised their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus price target of $177.27.

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.