Synovus Financial Corp Decreases Stake in RTX Co. (NYSE:RTX)

Synovus Financial Corp decreased its stake in RTX Co. (NYSE:RTX) by 47.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,273 shares of the company’s stock after selling 124,172 shares during the period. Synovus Financial Corp’s holdings in RTX were worth $16,390,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the business. Elgethun Capital Management increased its stake in shares of RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after buying an additional 85 shares during the period. Avestar Capital LLC lifted its holdings in RTX by 0.6% during the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after buying an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC raised its position in RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after acquiring an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC increased its stake in RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after acquiring an additional 86 shares during the last quarter. Finally, Canal Capital Management LLC boosted its stake in RTX by 2.1% in the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after acquiring an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.8 %

Shares of RTX stock opened at $116.06 on Friday. The company has a market capitalization of $154.48 billion, a P/E ratio of 33.16, a PEG ratio of 2.07 and a beta of 0.80. RTX Co. has a 1 year low of $79.67 and a 1 year high of $128.70. The company’s fifty day moving average is $121.64 and its two-hundred day moving average is $115.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. Analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, November 15th. RTX’s payout ratio is presently 72.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RTX. UBS Group lifted their price target on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Barclays boosted their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Citigroup raised their price objective on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Susquehanna increased their price target on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $177.27.

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.