RTX (NYSE:RTX) Releases FY24 Earnings Guidance

RTX (NYSE:RTX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.25-$5.40 for the period, compared to the consensus 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.

RTX Stock Up 0.0 %

Shares of RTX opened at $101.59 on Tuesday. The company has a market capitalization of $135.08 billion, a PE ratio of 45.35, a PEG ratio of 1.85 and a beta of 0.88. RTX has a 12 month low of $68.56 and a 12 month high of $102.63. The stock’s 50-day moving average price is $94.76 and its two-hundred day moving average price is $86.89. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The company had revenue of $19.93 billion for the quarter, compared to the consensus estimate of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.27 EPS. On average, analysts anticipate that RTX will post 5.39 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is currently 105.36%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank of Canada increased their price target on RTX from $82.00 to $88.00 and gave the company a sector perform rating in a research report on Monday, January 22nd. UBS Group raised their price target on RTX from $93.00 to $96.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Bank of America raised RTX from an underperform rating to a neutral rating and raised their price target for the stock from $78.00 to $100.00 in a report on Thursday, January 25th. TD Cowen lifted their price objective on RTX from $106.00 to $115.00 and gave the company an outperform rating in a research note on Tuesday, March 19th. Finally, Robert W. Baird lifted their price objective on RTX from $94.00 to $105.00 and gave the company a neutral rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $93.40.

Insider Buying and Selling

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated 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 of the company’s stock, valued at $614,711.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated 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 $1,076,176.92. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock worth $3,448,188 in the last three months. 0.13% of the stock is owned by insiders.

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.