RTX (NYSE:RTX) Issues FY 2024 Earnings Guidance

RTX (NYSE:RTX) updated its FY 2024 earnings guidance on Tuesday. 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.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Robert W. Baird raised their target price on RTX from $94.00 to $105.00 and gave the company a neutral rating in a research note on Monday, April 8th. Wells Fargo & Company restated an overweight rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Susquehanna lifted their price objective on shares of RTX from $110.00 to $119.00 and gave the company a positive rating in a research note on Wednesday. UBS Group lifted their price objective on shares of RTX from $103.00 to $105.00 and gave the company a neutral rating in a research note on Wednesday. Finally, Barclays lifted their price objective on shares of RTX from $75.00 to $90.00 and gave the company an equal weight rating in a research note on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $96.27.

RTX Stock Down 0.6 %

NYSE RTX traded down $0.64 during trading on Friday, reaching $101.07. 421,157 shares of the company’s stock were exchanged, compared to its average volume of 8,133,680. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The firm has a market capitalization of $134.37 billion, a PE ratio of 39.90, a P/E/G ratio of 1.84 and a beta of 0.88. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $95.36 and its 200-day simple moving average is $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 the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.22 EPS. Sell-side analysts predict that RTX will post 5.4 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.34%. RTX’s dividend payout ratio (DPR) is currently 92.55%.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the sale, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,785 shares of company stock worth $3,448,188. 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.