RTX (NYSE:RTX) Issues 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 Trading Up 0.6 %

NYSE:RTX traded up $0.65 during trading hours on Tuesday, reaching $102.21. 2,653,168 shares of the stock were exchanged, compared to its average volume of 8,183,603. RTX has a twelve month low of $68.56 and a twelve month high of $103.89. The business has a 50-day moving average of $94.76 and a two-hundred day moving average of $86.89. The company has a market capitalization of $135.90 billion, a price-to-earnings ratio of 45.35, a PEG ratio of 1.85 and a beta of 0.88. 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 (NYSE:RTX) last posted its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. The firm had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. RTX’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. On average, equities analysts predict that RTX will post 5.39 EPS for the current year.

RTX Announces Dividend

The business also recently declared 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 of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.31%. RTX’s dividend payout ratio (DPR) is 105.36%.

Analysts Set New Price Targets

A number of brokerages recently commented on RTX. UBS Group boosted their target price on shares of RTX from $93.00 to $96.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. Royal Bank of Canada increased their price objective on RTX from $82.00 to $88.00 and gave the company a sector perform rating in a report on Monday, January 22nd. TheStreet upgraded RTX from a c rating to a b- rating in a research note on Tuesday, January 23rd. TD Cowen increased their price target on shares of RTX from $106.00 to $115.00 and gave the company an outperform rating in a research note on Tuesday, March 19th. Finally, Robert W. Baird boosted their price objective on shares of RTX from $94.00 to $105.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $93.40.

Insider Activity at RTX

In other RTX news, 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 sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a document filed 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 dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock valued at $3,448,188 in the last ninety days. Corporate 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.