RTX (NYSE:RTX) Updates FY 2024 Earnings Guidance

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

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 report on Tuesday, January 23rd. Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the stock a neutral rating in a report on Monday, April 8th. UBS Group increased their price objective on RTX from $93.00 to $96.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Royal Bank of Canada increased their price objective on RTX from $82.00 to $88.00 and gave the stock a sector perform rating in a report on Monday, January 22nd. Finally, Bank of America upgraded RTX from an underperform rating to a neutral rating and increased their price objective for the stock from $78.00 to $100.00 in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $93.40.

RTX Trading Up 0.0 %

RTX opened at $101.59 on Tuesday. The stock has a market cap of $135.08 billion, a PE ratio of 45.35, a PEG ratio of 1.85 and a beta of 0.88. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average of $94.76 and a 200-day moving average of $86.89. RTX has a 52 week low of $68.56 and a 52 week high of $102.63.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The company had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 EPS. Equities research analysts predict that RTX will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders 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 of this dividend was Thursday, February 22nd. RTX’s payout ratio is 105.36%.

Insider Buying and Selling at RTX

In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction 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 transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is owned by insiders.

About RTX

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.