RTX Co. (NYSE:RTX) Position Reduced by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp decreased its holdings in RTX Co. (NYSE:RTX) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 296,770 shares of the company’s stock after selling 2,937 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in RTX were worth $35,955,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in RTX in the third quarter worth approximately $29,000. Briaud Financial Planning Inc grew its position in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in RTX in the second quarter worth approximately $32,000. Western Pacific Wealth Management LP acquired a new position in RTX in the third quarter worth approximately $41,000. Finally, Fairfield Financial Advisors LTD acquired a new position in RTX in the second quarter worth approximately $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 0.8 %

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. RTX Co. has a 1 year low of $79.67 and a 1 year high of $128.70. The company has a fifty day simple moving average of $121.64 and a 200 day simple moving average of $115.33. The firm has a market cap of $154.48 billion, a PE ratio of 33.16, a PEG ratio of 2.07 and a beta of 0.80.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the previous year, the business earned $1.25 EPS. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, November 15th. RTX’s payout ratio is presently 72.00%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RTX. Wells Fargo & Company upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Susquehanna lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Royal Bank of Canada lifted their price objective on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and an average price target of $177.27.

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.