RTX (NYSE:RTX) Releases FY 2024 Earnings Guidance

RTX (NYSE:RTX) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 5.250-5.400 for the period, compared to the consensus 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.

Analyst Ratings Changes

Several research firms have commented on RTX. 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. TD Cowen raised their target price on shares of RTX from $106.00 to $115.00 and gave the company an outperform rating in a report on Tuesday, March 19th. Bank of America lifted their price target on shares of RTX from $100.00 to $110.00 and gave the company a neutral rating in a report on Wednesday. Citigroup lifted their price target on shares of RTX from $95.00 to $110.00 and gave the company a neutral rating in a report on Wednesday. Finally, Robert W. Baird lifted their price target on shares of RTX from $94.00 to $105.00 and gave the company a neutral rating in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, RTX has an average rating of Hold and a consensus target price of $96.27.

RTX Trading Up 0.7 %

NYSE:RTX traded up $0.73 during mid-day trading on Thursday, hitting $101.76. 6,182,480 shares of the company’s stock were exchanged, compared to its average volume of 8,224,648. The company has a 50 day simple moving average of $95.36 and a 200-day simple moving average of $87.31. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The firm has a market capitalization of $135.30 billion, a P/E ratio of 39.90, a PEG ratio of 1.84 and a beta of 0.88.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for 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%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 EPS. As a group, research analysts expect that RTX will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

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

Insider Transactions at RTX

In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’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 sale, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the sale, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. 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.

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.