RTX (NYSE:RTX) Updates FY 2024 Earnings Guidance

RTX (NYSE:RTX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 5.250-5.400 for the period, compared to the consensus earnings per share 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 Price Performance

NYSE:RTX traded down $0.64 on Friday, reaching $101.07. The stock had a trading volume of 421,157 shares, compared to its average volume of 8,133,680. The company has a market capitalization of $134.37 billion, a P/E ratio of 39.90, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. RTX has a 1-year low of $68.56 and a 1-year high of $103.89. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average price of $95.36 and a 200-day moving average price of $87.31.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 earnings per share. Research analysts forecast that RTX will post 5.4 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio is presently 92.55%.

Analyst Upgrades and Downgrades

RTX has been the subject of several analyst reports. TheStreet upgraded shares of RTX from a c rating to a b- rating in a research note on Tuesday, January 23rd. UBS Group raised their target price on shares of RTX from $103.00 to $105.00 and gave the company a neutral rating in a report on Wednesday. Citigroup raised their target price on shares of RTX from $95.00 to $110.00 and gave the company a neutral rating in a report on Wednesday. Barclays raised their target price on shares of RTX from $75.00 to $90.00 and gave the company an equal weight rating in a report on Tuesday, January 30th. Finally, TD Cowen lifted their price target on shares of RTX from $106.00 to $115.00 and gave the company an outperform rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $96.27.

Insider Transactions at RTX

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 shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shane G. Eddy sold 35,456 shares of the company’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 transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. In the last 90 days, insiders have 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.