RTX (NYSE:RTX) Updates FY24 Earnings Guidance

RTX (NYSE:RTX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $5.25-$5.40 for the period, compared to the consensus earnings per share estimate of $5.40. The company issued revenue guidance of $78.0-$79.0 billion, compared to the consensus revenue estimate of $78.84 billion. RTX also updated its FY 2024 guidance to 5.250-5.400 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TheStreet upgraded RTX from a c rating to a b- rating in a research note on Tuesday, January 23rd. Susquehanna boosted their price target on RTX from $110.00 to $119.00 and gave the company a positive rating in a research note on Wednesday. Royal Bank of Canada boosted their price target on RTX from $82.00 to $88.00 and gave the company a sector perform rating in a research note on Monday, January 22nd. Robert W. Baird boosted their price target on RTX from $94.00 to $105.00 and gave the company a neutral rating in a research note on Monday, April 8th. Finally, Barclays boosted their price target on RTX from $75.00 to $90.00 and gave the company an equal weight rating in a research note on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, RTX presently has a consensus rating of Hold and an average price target of $96.27.

RTX Stock Down 0.0 %

Shares of RTX opened at $101.69 on Friday. The company has a market capitalization of $135.20 billion, a P/E ratio of 39.90, a PEG ratio of 1.84 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.78. RTX has a one year low of $68.56 and a one year high of $103.89. The business’s 50 day simple moving average is $95.36 and its 200-day simple moving average is $87.31.

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

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 value of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock worth $3,448,188 in the last quarter. 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.