RTX (NYSE:RTX) Issues Quarterly Earnings Results

RTX (NYSE:RTX) posted its quarterly earnings results 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. The firm had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. RTX’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 EPS. RTX updated its FY24 guidance to $5.25-$5.40 EPS and its FY 2024 guidance to 5.250-5.400 EPS.

RTX Price Performance

Shares of RTX traded down $1.13 during mid-day trading on Wednesday, hitting $100.25. 3,592,785 shares of the stock were exchanged, compared to its average volume of 8,203,819. The company has a market cap of $133.30 billion, a PE ratio of 45.07, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. The firm has a 50-day moving average of $94.97 and a two-hundred day moving average of $87.12. RTX has a 52-week low of $68.56 and a 52-week high of $103.89.

RTX Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on RTX shares. Bank of America raised RTX from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $78.00 to $100.00 in a research report on Thursday, January 25th. Susquehanna lifted their price objective on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday. Robert W. Baird lifted their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada lifted their price objective on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Finally, TD Cowen lifted their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $94.00.

Insider Activity

In other news, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other RTX news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the company’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 transaction, the executive vice president now directly owns 11,676 shares in the company, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by insiders.

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.