Jennison Associates LLC Increases Stake in RTX Co. (NYSE:RTX)

Jennison Associates LLC lifted its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 15.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 520,742 shares of the company's stock after buying 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 SEC.

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

RTX Stock Performance

NYSE RTX opened at $119.15 on Thursday. The company has a 50-day simple moving average of $122.13 and a two-hundred day simple moving average of $113.84. 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 Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The firm has a market cap of $158.59 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results 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 return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to analysts' expectations of $19.84 billion. During the same period last year, the firm earned $1.25 earnings per share. RTX's quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, November 15th. RTX's dividend payout ratio is presently 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent research reports. UBS Group boosted their price target on shares of RTX from $126.00 to $133.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lowered their target price on RTX from $491.00 to $467.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 24th. Susquehanna increased their price objective on RTX from $140.00 to $150.00 and gave the company a "positive" rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their target price on shares of RTX from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Monday, July 29th. Finally, Alembic Global Advisors upgraded RTX from a "neutral" rating to an "overweight" rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price 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.