RTX (NYSE:RTX) Releases FY24 Earnings Guidance

RTX (NYSE:RTX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.50-5.58 for the period, compared to the consensus estimate of $5.47. The company issued revenue guidance of $79.25-79.75 billion, compared to the consensus revenue estimate of $79.45 billion. RTX also updated its FY 2024 guidance to 5.500-5.580 EPS.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Susquehanna lifted their price objective on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and lifted their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, RTX presently has an average rating of “Hold” and an average price target of $165.88.

RTX Trading Up 0.5 %

Shares of RTX stock traded up $0.62 during trading on Wednesday, hitting $126.15. 113,133 shares of the company were exchanged, compared to its average volume of 6,748,787. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The firm’s fifty day moving average price is $121.27 and its 200 day moving average price is $110.91. RTX has a 1-year low of $76.96 and a 1-year high of $128.70. The firm has a market capitalization of $167.72 billion, a P/E ratio of 49.37, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The business’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts expect that RTX will post 5.45 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 98.82%.

Insider Activity at RTX

In other news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the sale, the vice president now directly owns 45,208 shares of the company’s stock, valued at $5,197,111.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% of the company’s stock.

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.