RTX (NYSE:RTX) Issues FY 2024 Earnings Guidance

RTX (NYSE:RTX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 5.350-5.450 for the period, compared to the consensus EPS estimate of 4.950. The company issued revenue guidance of $78.8 billion-$79.5 billion, compared to the consensus revenue estimate of $72.8 billion.

RTX Stock Performance

NYSE:RTX opened at $113.95 on Friday. The company has a market capitalization of $151.50 billion, a PE ratio of 44.69, a P/E/G ratio of 2.02 and a beta of 0.82. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $115.82. The company has a 50 day simple moving average of $104.47 and a two-hundred day simple moving average of $98.31. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 EPS. Research analysts anticipate that RTX will post 5.42 earnings per share for the current year.

RTX Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RTX shares. TD Cowen increased their price target on RTX from $115.00 to $142.00 and gave the stock a buy rating in a report on Friday. Bank of America increased their target price on RTX from $100.00 to $110.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. Wells Fargo & Company cut their target price on RTX from $491.00 to $467.00 and set an equal weight rating on the stock in a report on Wednesday. Citigroup increased their target price on RTX from $95.00 to $110.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. Finally, Melius Research increased their target price on RTX from $490.00 to $493.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, RTX has an average rating of Hold and a consensus price target of $148.69.

Insider Activity

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction on 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 legal filing with the SEC, which is available at the SEC website. In related 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 sale, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value 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 disclosure for this sale can be found here. 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.