Peapack Gladstone Financial Corp Has $35.96 Million Stake in RTX Co. (NYSE:RTX)

Peapack Gladstone Financial Corp decreased its position in shares of RTX Co. (NYSE:RTX) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 296,770 shares of the company’s stock after selling 2,937 shares during the period. Peapack Gladstone Financial Corp’s holdings in RTX were worth $35,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Briaud Financial Planning Inc lifted its position in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX during the third quarter valued at about $29,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX during the second quarter valued at about $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX during the second quarter valued at about $41,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of RTX during the third quarter valued at about $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RTX shares. Susquehanna upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada upped their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Citigroup upped their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and upped their target price for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Price Performance

Shares of RTX stock opened at $116.06 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $154.48 billion, a price-to-earnings ratio of 33.16, a P/E/G ratio of 2.07 and a beta of 0.80. RTX Co. has a 1-year low of $79.67 and a 1-year high of $128.70. The firm’s 50-day moving average price is $121.64 and its two-hundred day moving average price is $115.33.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, equities analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.17%. RTX’s payout ratio is 72.00%.

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.