Birmingham Capital Management Co. Inc. AL Trims Stake in RTX Co. (NYSE:RTX)

Birmingham Capital Management Co. Inc. AL lessened its position in RTX Co. (NYSE:RTX - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,531 shares of the company's stock after selling 5,778 shares during the quarter. RTX makes up about 2.2% of Birmingham Capital Management Co. Inc. AL's portfolio, making the stock its 12th biggest position. Birmingham Capital Management Co. Inc. AL's holdings in RTX were worth $5,963,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 10Elms LLP bought a new position in shares of RTX during the 4th quarter worth approximately $29,000. Fairway Wealth LLC bought a new stake in shares of RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management raised its holdings in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares in the last quarter. Greenline Partners LLC acquired a new position in shares of RTX during the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC acquired a new position in shares of RTX during the 4th quarter worth $39,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

RTX Stock Performance

Shares of NYSE RTX traded up $1.99 during mid-day trading on Thursday, hitting $134.84. The company had a trading volume of 3,634,610 shares, compared to its average volume of 5,392,295. The company has a market capitalization of $180.14 billion, a price-to-earnings ratio of 37.98, a P/E/G ratio of 2.11 and a beta of 0.60. RTX Co. has a 1 year low of $99.07 and a 1 year high of $138.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock's 50-day moving average price is $129.08 and its 200-day moving average price is $124.95.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 2.02%. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent research reports. Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a research note on Wednesday, April 23rd. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Finally, Citigroup dropped their target price on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has a consensus rating of "Buy" and a consensus target price of $159.82.

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.