Peapack Gladstone Financial Corp Sells 23,611 Shares of RTX Corporation $RTX

Peapack Gladstone Financial Corp lessened its stake in shares of RTX Corporation (NYSE:RTX) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 263,752 shares of the company’s stock after selling 23,611 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in RTX were worth $48,372,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of RTX by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 124,986,171 shares of the company’s stock worth $22,922,464,000 after acquiring an additional 2,210,950 shares in the last quarter. Capital Research Global Investors lifted its position in shares of RTX by 1.1% during the 3rd quarter. Capital Research Global Investors now owns 76,197,762 shares of the company’s stock worth $12,750,087,000 after purchasing an additional 799,155 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of RTX by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 21,800,188 shares of the company’s stock worth $3,998,155,000 after purchasing an additional 625,994 shares during the last quarter. Norges Bank acquired a new position in shares of RTX during the 4th quarter worth about $3,167,626,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of RTX by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,642,723 shares of the company’s stock worth $1,278,740,000 after purchasing an additional 147,940 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.3%

RTX stock opened at $179.16 on Monday. The business has a 50 day moving average price of $186.04 and a two-hundred day moving average price of $188.81. The company has a quick ratio of 0.78, a current ratio of 1.02 and a debt-to-equity ratio of 0.48. The stock has a market cap of $241.27 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 2.55 and a beta of 0.31. RTX Corporation has a 12 month low of $131.90 and a 12 month high of $214.50.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.52 by $0.26. The firm had revenue of $22.08 billion during the quarter, compared to analysts’ expectations of $21.38 billion. RTX had a return on equity of 13.50% and a net margin of 8.03%.The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.47 EPS. RTX has set its FY 2026 guidance at 6.600-6.800 EPS. As a group, equities analysts forecast that RTX Corporation will post 6.91 EPS for the current year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 22nd will be issued a $0.73 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.92 annualized dividend and a yield of 1.6%. RTX’s payout ratio is currently 54.78%.

Wall Street Analyst Weigh In

RTX has been the subject of several research analyst reports. Wells Fargo & Company initiated coverage on RTX in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $200.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of RTX in a research report on Friday, April 10th. DZ Bank cut RTX from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Citigroup cut their price objective on RTX from $238.00 to $226.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Finally, Jefferies Financial Group cut their price objective on RTX from $225.00 to $210.00 and set a “hold” rating for the company in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.75.

RTX Profile

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.