RTX (NYSE:RTX) Issues Earnings Results, Beats Expectations By $0.11 EPS

RTX (NYSE:RTX) released its quarterly earnings results on Thursday. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11, Briefing.com reports. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter last year, the company earned $1.29 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. RTX updated its FY 2024 guidance to 5.350-5.450 EPS.

RTX Stock Up 0.4 %

Shares of NYSE:RTX opened at $113.95 on Friday. The business has a 50-day moving average price of $104.47 and a 200 day moving average price of $98.31. The company has a current ratio of 0.99, a quick ratio of 0.79 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $151.50 billion, a price-to-earnings ratio of 44.69, a PEG ratio of 2.02 and a beta of 0.82. RTX has a 12-month low of $68.56 and a 12-month high of $115.82.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.21%. RTX’s dividend payout ratio is presently 98.82%.

Insider Buying and Selling

In related news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RTX shares. TD Cowen lifted their price target on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada lifted their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a report on Friday. UBS Group raised their price objective on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Susquehanna raised their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $148.69.

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.