Peapack Gladstone Financial Corp Raises Holdings in RTX Co. (NYSE:RTX)

Peapack Gladstone Financial Corp lifted its position in shares of RTX Co. (NYSE:RTX) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 299,823 shares of the company’s stock after buying an additional 3,053 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in RTX were worth $34,694,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Darden Wealth Group Inc increased its position in RTX by 5.0% during the 4th quarter. Darden Wealth Group Inc now owns 10,407 shares of the company’s stock valued at $1,204,000 after purchasing an additional 491 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of RTX by 9.7% during the fourth quarter. Quadrant Capital Group LLC now owns 17,254 shares of the company’s stock valued at $1,997,000 after purchasing an additional 1,527 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in RTX by 1.0% during the fourth quarter. Russell Investments Group Ltd. now owns 841,811 shares of the company’s stock valued at $97,411,000 after buying an additional 8,492 shares during the period. Wedbush Securities Inc. raised its stake in RTX by 12.2% in the fourth quarter. Wedbush Securities Inc. now owns 38,529 shares of the company’s stock worth $4,459,000 after buying an additional 4,181 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in RTX by 2.7% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 9,876 shares of the company’s stock worth $1,143,000 after buying an additional 258 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup raised RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Susquehanna increased their price target on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Stock Down 9.8 %

Shares of RTX stock opened at $117.43 on Friday. 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 Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17. The firm has a market capitalization of $156.78 billion, a PE ratio of 33.08, a P/E/G ratio of 2.11 and a beta of 0.58. The stock’s 50-day simple moving average is $129.05 and its 200-day simple moving average is $123.38.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. RTX’s payout ratio is currently 70.99%.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last quarter. 0.15% of the stock is currently owned by company insiders.

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.