RTX (NYSE:RTX) Issues FY24 Earnings Guidance

RTX (NYSE:RTX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $5.25-$5.40 for the period, compared to the consensus EPS estimate of $5.40. The company issued revenue guidance of $78.0-$79.0 billion, compared to the consensus revenue estimate of $78.84 billion. RTX also updated its FY 2024 guidance to 5.250-5.400 EPS.

RTX Price Performance

RTX stock traded down $1.02 during mid-day trading on Wednesday, reaching $100.36. 3,693,522 shares of the company’s stock traded hands, compared to its average volume of 8,203,819. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. RTX has a 12-month low of $68.56 and a 12-month high of $103.89. The company has a market cap of $133.44 billion, a price-to-earnings ratio of 45.07, a PEG ratio of 1.85 and a beta of 0.88. The stock has a 50 day moving average of $94.97 and a two-hundred day moving average of $87.12.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.64% and a return on equity of 10.34%. The business had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter in the previous year, the business posted $1.22 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. Equities analysts forecast that RTX will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is presently 105.36%.

Analysts Set New Price Targets

A number of research firms have recently commented on RTX. Bank of America upgraded shares of RTX from an underperform rating to a neutral rating and upped their price target for the stock from $78.00 to $100.00 in a report on Thursday, January 25th. Susquehanna upped their price target on shares of RTX from $110.00 to $119.00 and gave the stock a positive rating in a report on Wednesday. Wells Fargo & Company restated an overweight rating and issued a $120.00 price target on shares of RTX in a report on Monday, April 1st. Barclays increased their target price on shares of RTX from $75.00 to $90.00 and gave the stock an equal weight rating in a report on Tuesday, January 30th. Finally, UBS Group increased their target price on shares of RTX from $93.00 to $96.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $94.00.

Insider Buying and Selling at RTX

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares in the company, valued at approximately $1,076,176.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction 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 owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $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. Company insiders own 0.13% of the company’s stock.

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.