RTX (NYSE:RTX) Issues FY 2024 Earnings Guidance

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

RTX Trading Down 1.1 %

NYSE:RTX traded down $1.15 during mid-day trading on Wednesday, reaching $100.23. The company’s stock had a trading volume of 3,943,374 shares, compared to its average volume of 8,207,354. The stock has a market cap of $133.27 billion, a P/E ratio of 44.73, a P/E/G ratio of 1.85 and a beta of 0.88. RTX has a twelve month low of $68.56 and a twelve month high of $103.89. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The company’s fifty day simple moving average is $94.97 and its two-hundred day simple moving average is $87.12.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 EPS. On average, equities analysts predict that RTX will post 5.39 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.35%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Robert W. Baird lifted 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 boosted their price target on RTX from $103.00 to $105.00 and gave the company a neutral rating in a report on Wednesday. Susquehanna boosted their price target on RTX from $110.00 to $119.00 and gave the company a positive rating in a report on Wednesday. Barclays boosted their price target on RTX from $75.00 to $90.00 and gave the company an equal weight rating in a report on Tuesday, January 30th. Finally, Royal Bank of Canada boosted their price target on RTX from $82.00 to $88.00 and gave the company a sector perform rating in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $94.60.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the transaction, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following 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 a total of 37,785 shares of company stock worth $3,448,188 over the last 90 days. 0.13% of the stock is currently owned by company 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.