Berkshire Bank Sells 572 Shares of RTX Co. (NYSE:RTX)

Berkshire Bank trimmed its position in RTX Co. (NYSE:RTX) by 17.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,664 shares of the company’s stock after selling 572 shares during the quarter. Berkshire Bank’s holdings in RTX were worth $308,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in RTX in the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new stake in RTX during the fourth quarter valued at $39,000. Western Pacific Wealth Management LP purchased a new position in RTX during the third quarter worth about $41,000. Kimelman & Baird LLC bought a new position in RTX in the 2nd quarter worth about $46,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of RTX during the 3rd quarter valued at about $50,000. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RTX has been the topic of several research analyst reports. Susquehanna decreased their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $130.00 to $140.00 in a research note on Thursday, December 19th. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley boosted their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average target price of $158.27.

RTX Price Performance

RTX stock opened at $124.72 on Tuesday. 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 firm’s 50-day moving average price is $118.49 and its two-hundred day moving average price is $118.70. The stock has a market capitalization of $166.00 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 1.99 and a beta of 0.81. RTX Co. has a 12-month low of $88.90 and a 12-month high of $128.70.

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.