Jennison Associates LLC Purchases 375,655 Shares of RTX Corporation $RTX

Key Points

• Jennison Associates LLC increased its RTX stake by 37.4% in the first quarter, buying 375,655 additional shares and bringing its total holding to 1.38 million shares worth about $266 million.
• RTX reported stronger-than-expected quarterly results, with earnings of $1.78 per share and revenue of $22.08 billion, both ahead of analyst forecasts; revenue also rose 8.7% year over year.
• The company announced a quarterly dividend of $0.73 per share, payable on September 3, and analysts currently rate RTX as a Moderate Buy with an average price target of $211.38.

Jennison Associates LLC grew its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 37.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,378,798 shares of the company's stock after purchasing an additional 375,655 shares during the quarter. Jennison Associates LLC owned approximately 0.10% of RTX worth $265,970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in RTX. Navalign LLC purchased a new stake in RTX during the fourth quarter valued at approximately $25,000. Commonwealth Retirement Investments LLC purchased a new position in shares of RTX during the 4th quarter worth $26,000. Evergreen Advisors LLC bought a new stake in shares of RTX during the 1st quarter valued at $31,000. Core Wealth Advisors LLC bought a new stake in shares of RTX during the 4th quarter valued at $31,000. Finally, 1 North Wealth Services LLC increased its stake in shares of RTX by 456.7% in the 4th quarter. 1 North Wealth Services LLC now owns 167 shares of the company's stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

RTX Stock Down 0.4%

Shares of RTX stock opened at $193.66 on Friday. The company has a market capitalization of $260.80 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 2.65 and a beta of 0.30. RTX Corporation has a one year low of $143.56 and a one year high of $214.50. The company's fifty day moving average price is $184.63 and its 200-day moving average price is $191.62. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.78.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 21st. The company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.26. RTX had a net margin of 8.03% and a return on equity of 13.50%. The company had revenue of $22.08 billion for the quarter, compared to analysts' expectations of $21.38 billion. During the same quarter in the previous year, the company earned $1.47 EPS. RTX's revenue for the quarter was up 8.7% on a year-over-year basis. RTX has set its FY 2026 guidance at 6.600-6.800 EPS. Sell-side analysts expect that RTX Corporation will post 6.92 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 14th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 14th. RTX's payout ratio is presently 54.78%.

RTX News Summary

Here are the key news stories impacting RTX this week:

• Positive Sentiment: RTX’s Raytheon unit is expanding its footprint in fighter aircraft programs by supplying advanced avionics, sensors, electronic warfare systems and precision weapons, reinforcing its role in key U.S. defense platforms. Article Title
• Positive Sentiment: RTX’s Pratt & Whitney unit is advancing AI-enabled engine inspection capabilities through a deal with Aiir Innovations, which could improve maintenance efficiency and support higher-margin aftermarket services. Article Title
• Positive Sentiment: Investors are also looking ahead to RTX’s upcoming earnings report, with Wall Street expecting earnings growth and the possibility of another beat, which can support sentiment into the print. Article Title
• Neutral Sentiment: Recent reports about NVIDIA’s GeForce RTX gaming GPUs, including launch delays, hotspot temperature issues and SEGA collaborations, do not appear to be material drivers for RTX Corporation’s stock and are likely to be a naming coincidence.

Analyst Ratings Changes

A number of brokerages recently commented on RTX. Wall Street Zen cut RTX from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 26th. Dbs Bank raised RTX from a "hold" rating to a "moderate buy" rating in a report on Wednesday, June 10th. UBS Group reduced their price target on RTX from $209.00 to $199.00 and set a "neutral" rating for the company in a research report on Wednesday, April 22nd. Morgan Stanley decreased their price objective on RTX from $235.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Finally, Weiss Ratings cut RTX from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $211.38.

RTX Company Profile

RTX NYSE: RTX is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX's operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.

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