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

Jennison Associates LLC decreased its holdings in shares of RTX Corporation (NYSE:RTX) by 12.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,327,230 shares of the company’s stock after selling 186,785 shares during the period. Jennison Associates LLC’s holdings in RTX were worth $175,805,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in RTX in the first quarter worth approximately $26,000. 10Elms LLP bought a new position in RTX in the fourth quarter worth approximately $29,000. Greenline Partners LLC bought a new position in RTX in the fourth quarter worth approximately $34,000. Millstone Evans Group LLC bought a new position in RTX in the fourth quarter worth approximately $39,000. Finally, Mpwm Advisory Solutions LLC bought a new position in RTX in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president owned 16,538 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president directly owned 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on RTX. Royal Bank Of Canada decreased their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Susquehanna reduced their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. JPMorgan Chase & Co. reduced their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Finally, Wall Street Zen cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.28.

RTX Trading Up 0.7%

NYSE RTX opened at $152.52 on Friday. 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 firm has a market cap of $203.76 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. The company has a 50 day moving average price of $140.89 and a 200 day moving average price of $131.23. RTX Corporation has a 52 week low of $102.62 and a 52 week high of $152.38.

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

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.78%. RTX’s dividend payout ratio is currently 79.77%.

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.