Synovus Financial Corp Boosts Holdings in RTX Corporation $RTX

Key Points

• Synovus Financial Corp has increased its holdings in RTX Corporation by 5.4%, acquiring an additional 6,872 shares, bringing its total ownership to 133,493 shares valued at approximately $17.68 million.
• Insider trading activity included significant sales by executives, with Philip J. Jasper and Troy D. Brunk selling 12,847 and 7,654 shares respectively, representing a decrease in their ownership by 42.08% and 31.76%.
• RTX recently declared a quarterly dividend of $0.68 per share, which is set to be paid on September 4, providing an annualized dividend yield of 1.7%.

Synovus Financial Corp increased its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 5.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,493 shares of the company's stock after buying an additional 6,872 shares during the period. Synovus Financial Corp's holdings in RTX were worth $17,683,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RTX. MorganRosel Wealth Management LLC bought a new stake in shares of RTX during the first quarter valued at approximately $26,000. 10Elms LLP purchased a new stake in RTX in the 4th quarter valued at $29,000. Greenline Partners LLC purchased a new position in RTX during the 4th quarter worth $34,000. Summit Securities Group LLC bought a new stake in RTX in the 1st quarter worth about $40,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of RTX during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Price Performance

NYSE:RTX traded up $0.92 during trading hours on Thursday, hitting $160.76. The stock had a trading volume of 3,112,695 shares, compared to its average volume of 5,213,895. The company has a 50 day simple moving average of $151.66 and a two-hundred day simple moving average of $137.96. The firm has a market capitalization of $215.18 billion, a price-to-earnings ratio of 35.33, a P/E/G ratio of 2.94 and a beta of 0.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a one year low of $112.27 and a one year high of $161.26.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. RTX's dividend payout ratio (DPR) is currently 59.78%.

Wall Street Analyst Weigh In

A number of analysts recently commented on RTX shares. The Goldman Sachs Group increased their price target on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. UBS Group raised their price objective on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 target price (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. Finally, Morgan Stanley upped their price objective on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $158.67.

Insiders Place Their Bets

In other news, insider Philip J. Jasper sold 12,847 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the transaction, the insider owned 17,684 shares of the company's stock, valued at $2,790,888.88. This represents a 42.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,589 shares of company stock worth $7,126,389. 0.15% of the stock is owned by corporate 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.