RTX (NYSE:RTX) Issues FY 2024 Earnings Guidance

RTX (NYSE:RTX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 5.250-5.400 for the period, compared to the consensus EPS estimate of 5.390. The company issued revenue guidance of $78.0 billion-$79.0 billion, compared to the consensus revenue estimate of $78.8 billion. RTX also updated its FY24 guidance to $5.25-$5.40 EPS.

RTX Stock Performance

Shares of NYSE:RTX traded up $0.73 during midday trading on Thursday, reaching $101.76. 6,182,480 shares of the company’s stock traded hands, compared to its average volume of 8,224,648. The company has a market cap of $135.30 billion, a price-to-earnings ratio of 39.90, a P/E/G ratio of 1.84 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 1.07. RTX has a one year low of $68.56 and a one year high of $103.89. The stock has a 50 day moving average of $95.36 and a 200 day moving average of $87.31.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 earnings per share. As a group, equities research analysts anticipate that RTX will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, February 22nd. RTX’s payout ratio is 92.55%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RTX. TD Cowen increased their target price on RTX from $106.00 to $115.00 and gave the stock an outperform rating in a research report on Tuesday, March 19th. TheStreet upgraded RTX from a c rating to a b- rating in a report on Tuesday, January 23rd. UBS Group boosted their price objective on RTX from $103.00 to $105.00 and gave the company a neutral rating in a report on Wednesday. Wells Fargo & Company restated an overweight rating and set a $120.00 price objective on shares of RTX in a report on Monday, April 1st. Finally, Citigroup boosted their price objective on RTX from $95.00 to $110.00 and gave the company a neutral rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $96.27.

Insider Transactions at RTX

In other news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock worth $3,448,188 over the last quarter. 0.13% of the stock is currently owned by insiders.

RTX Company Profile

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.