Jennison Associates LLC Acquires 993,273 Shares of RTX Co. (NYSE:RTX)

Jennison Associates LLC increased its stake in shares of RTX Co. (NYSE:RTX) by 190.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,514,015 shares of the company’s stock after buying an additional 993,273 shares during the quarter. Jennison Associates LLC owned about 0.11% of RTX worth $175,202,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Avestar Capital LLC increased its stake in RTX by 0.6% during the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after purchasing an additional 85 shares in the last quarter. Arbor Wealth Advisors LLC increased its position in shares of RTX by 3.7% during the fourth quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after acquiring an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC lifted its position in RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after acquiring an additional 86 shares in the last quarter. Finally, Traveka Wealth LLC lifted its position in RTX by 3.2% in the 4th quarter. Traveka Wealth LLC now owns 2,789 shares of the company’s stock valued at $323,000 after acquiring an additional 86 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of several analyst reports. UBS Group increased their price objective on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada lifted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Stock Up 0.1 %

RTX stock opened at $129.08 on Monday. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. The stock has a fifty day moving average of $119.14 and a 200-day moving average of $119.40. The company has a market capitalization of $171.81 billion, a price-to-earnings ratio of 36.36, a PEG ratio of 2.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates 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 predict that RTX Co. will post 6.12 earnings per share for the current year.

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.