Jennison Associates LLC Raises Stock Position in RTX Co. (NYSE:RTX)

Jennison Associates LLC boosted its position in RTX Co. (NYSE:RTX) by 190.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,514,015 shares of the company’s stock after purchasing an additional 993,273 shares during the quarter. Jennison Associates LLC’s holdings in RTX were worth $175,202,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RTX. Czech National Bank raised its position in shares of RTX by 7.0% during the 3rd quarter. Czech National Bank now owns 270,983 shares of the company’s stock valued at $32,832,000 after buying an additional 17,645 shares in the last quarter. HBW Advisory Services LLC purchased a new stake in RTX during the third quarter valued at about $263,000. GAMMA Investing LLC lifted its stake in RTX by 29.7% during the third quarter. GAMMA Investing LLC now owns 26,341 shares of the company’s stock worth $3,191,000 after purchasing an additional 6,036 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of RTX by 10.1% in the 3rd quarter. Diversified Trust Co now owns 36,714 shares of the company’s stock worth $4,448,000 after purchasing an additional 3,365 shares in the last quarter. Finally, Eagle Rock Investment Company LLC bought a new position in shares of RTX during the 3rd quarter valued at about $220,000. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

Shares of RTX stock opened at $129.08 on Monday. The business has a 50 day moving average of $119.14 and a 200 day moving average of $119.40. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The company has a market cap of $171.81 billion, a PE ratio of 36.36, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities research analysts forecast that RTX Co. will post 6.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RTX. JPMorgan Chase & Co. upped their target price on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. UBS Group increased their target price on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada raised their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Bank of America boosted their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average target price of $163.07.

RTX Company 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.