Synovus Financial Corp Sells 8,652 Shares of RTX Co. (NYSE:RTX)

Synovus Financial Corp lessened its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,621 shares of the company's stock after selling 8,652 shares during the period. Synovus Financial Corp's holdings in RTX were worth $14,655,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RTX. Fairway Wealth LLC purchased a new position in RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its stake 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 acquiring an additional 265 shares during the period. Modus Advisors LLC purchased a new stake in RTX in the 4th quarter worth about $39,000. Millstone Evans Group LLC purchased a new stake in RTX during the fourth quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in RTX during the fourth quarter worth about $40,000. Institutional investors own 86.50% of the company's stock.

Insider Activity

In other news, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction on Thursday, February 27th. The shares were 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 owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.15% of the company's stock.

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Analysts Set New Price Targets

RTX has been the subject of several analyst reports. Royal Bank of Canada raised their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Vertical Research raised RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Susquehanna upped their price target on RTX from $139.00 to $147.00 and gave the company a "positive" rating in a research report on Wednesday, January 29th. UBS Group upgraded shares of RTX from a "neutral" rating to a "buy" rating in a research report on Monday, March 24th. Finally, Argus upgraded shares of RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $164.73.

RTX Trading Up 0.2 %

RTX traded up $0.23 during trading on Tuesday, hitting $129.37. 433,901 shares of the stock traded hands, compared to its average volume of 5,480,187. The firm has a market capitalization of $172.71 billion, a P/E ratio of 36.44, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. RTX Co. has a 12-month low of $99.07 and a 12-month high of $136.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a 50-day moving average of $128.56 and a 200 day moving average of $123.68.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.95%. RTX's dividend payout ratio is 70.99%.

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.