Peapack Gladstone Financial Corp Has $48.37 Million Stock Position in RTX Corporation $RTX

Peapack Gladstone Financial Corp decreased its position in RTX Corporation (NYSE:RTX) by 8.2% in the 4th quarter, HoldingsChannel reports. The fund owned 263,752 shares of the company’s stock after selling 23,611 shares during the period. Peapack Gladstone Financial Corp’s holdings in RTX were worth $48,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Navalign LLC acquired a new position in shares of RTX in the 4th quarter worth approximately $25,000. BNP Paribas acquired a new position in shares of RTX in the 3rd quarter worth approximately $25,000. Core Wealth Advisors LLC acquired a new position in shares of RTX in the 4th quarter worth approximately $31,000. Wexford Capital LP acquired a new position in shares of RTX in the 3rd quarter worth approximately $33,000. Finally, Dogwood Wealth Management LLC raised its holdings in shares of RTX by 57.3% in the 3rd quarter. Dogwood Wealth Management LLC now owns 206 shares of the company’s stock worth $34,000 after buying an additional 75 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wolfe Research reissued an “outperform” rating on shares of RTX in a report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $240.00 target price on shares of RTX in a report on Thursday, March 5th. Morgan Stanley dropped their target price on RTX from $235.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Jefferies Financial Group dropped their target price on RTX from $225.00 to $210.00 and set a “hold” rating for the company in a report on Monday, April 13th. Finally, Wall Street Zen cut RTX from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.75.

RTX Stock Down 0.3%

NYSE RTX opened at $179.16 on Monday. The firm has a market cap of $241.27 billion, a PE ratio of 33.61, a price-to-earnings-growth ratio of 2.55 and a beta of 0.31. RTX Corporation has a one year low of $131.90 and a one year high of $214.50. The stock’s 50 day simple moving average is $186.04 and its 200 day simple moving average is $188.81. 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) last released its quarterly earnings results on Tuesday, April 21st. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.26. The business had revenue of $22.08 billion for the quarter, compared to analyst estimates of $21.38 billion. RTX had a return on equity of 13.50% and a net margin of 8.03%.RTX’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.47 EPS. RTX has set its FY 2026 guidance at 6.600-6.800 EPS. As a group, sell-side analysts forecast that RTX Corporation will post 6.91 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 22nd will be given a dividend of $0.73 per share. This is a boost from RTX’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, May 22nd. This represents a $2.92 dividend on an annualized basis and a yield of 1.6%. RTX’s dividend payout ratio is currently 54.78%.

About RTX

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.