RTX (NYSE:RTX) Releases Earnings Results, Beats Expectations By $0.11 EPS

RTX (NYSE:RTX) released its quarterly earnings data on Tuesday. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11, Briefing.com reports. RTX had a net margin of 4.64% and a return on equity of 10.34%. The firm had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same period last year, the business earned $1.22 earnings per share. RTX’s revenue was up 12.1% compared to the same quarter last year. RTX updated its FY24 guidance to $5.25-$5.40 EPS and its FY 2024 guidance to 5.250-5.400 EPS.

RTX Stock Performance

Shares of RTX stock traded down $1.19 during trading on Wednesday, reaching $100.19. The company’s stock had a trading volume of 3,288,702 shares, compared to its average volume of 8,200,042. The company has a 50-day moving average price of $94.97 and a two-hundred day moving average price of $87.12. The firm has a market cap of $133.22 billion, a PE ratio of 45.07, a P/E/G ratio of 1.85 and a beta of 0.88. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69.

RTX Dividend Announcement

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

Insider Activity

In other news, insider Shane G. Eddy sold 35,456 shares of RTX 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 transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Shane G. Eddy sold 35,456 shares of RTX 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 transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at $5,252,769.41. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock valued at $3,448,188 in the last ninety days. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RTX shares. Barclays raised their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $78.00 to $100.00 in a research note on Thursday, January 25th. Susquehanna increased their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday. UBS Group raised their price objective on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Finally, Robert W. Baird raised their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. 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 company. According to data from MarketBeat, RTX presently has a consensus rating of “Hold” and an average price target of $94.00.

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.