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 $5.50-5.58 for the period, compared to the consensus estimate of $5.47. The company issued revenue guidance of $79.25-79.75 billion, compared to the consensus revenue estimate of $79.45 billion. RTX also updated its FY 2024 guidance to 5.500-5.580 EPS.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. The Goldman Sachs Group boosted their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, Citigroup upped their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus price target of $162.50.

RTX Trading Up 0.3 %

NYSE:RTX traded up $0.33 during mid-day trading on Tuesday, hitting $126.23. 978,121 shares of the stock traded hands, compared to its average volume of 6,757,309. The stock has a market capitalization of $167.82 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 2.24 and a beta of 0.82. RTX has a 52 week low of $72.52 and a 52 week high of $128.70. The firm’s 50 day moving average is $120.91 and its two-hundred day moving average is $110.55. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS. On average, equities research analysts predict that RTX will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.00%. RTX’s dividend payout ratio (DPR) is 98.82%.

Insider Buying and Selling at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 in the last three months. Company 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.