Jennison Associates LLC Sells 186,785 Shares of RTX Corporation (NYSE:RTX)

Jennison Associates LLC trimmed its holdings in RTX Corporation (NYSE:RTX - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,327,230 shares of the company's stock after selling 186,785 shares during the quarter. Jennison Associates LLC owned 0.10% of RTX worth $175,805,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after acquiring an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after purchasing an additional 159 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of RTX by 65.5% in the fourth quarter. Proficio Capital Partners LLC now owns 9,015 shares of the company's stock valued at $1,043,000 after buying an additional 3,568 shares in the last quarter. Brooklyn FI LLC purchased a new position in RTX during the fourth quarter worth $533,000. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of RTX during the fourth quarter valued at approximately $240,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 0.1%

Shares of RTX traded up $0.18 during mid-day trading on Friday, reaching $151.68. The company's stock had a trading volume of 5,922,284 shares, compared to its average volume of 5,280,769. RTX Corporation has a 1 year low of $102.62 and a 1 year high of $152.84. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The company has a market cap of $202.64 billion, a price-to-earnings ratio of 44.48, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. The business has a fifty day moving average of $141.35 and a 200 day moving average of $131.48.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. As a group, analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.79%. RTX's payout ratio is presently 79.77%.

Insider Activity

In related news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president owned 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RTX has been the topic of a number of recent research reports. Royal Bank Of Canada reduced their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Susquehanna decreased their price target on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Sanford C. Bernstein set a $154.00 target price on shares of RTX and gave the stock a "market perform" rating in a research report on Friday, July 11th. Finally, Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.28.

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.