RTX (NYSE:RTX) Issues Earnings Results, Beats Estimates By $0.11 EPS

RTX (NYSE:RTX) posted its quarterly earnings results on Tuesday. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11, Briefing.com reports. The business had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 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 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.22 EPS. RTX updated its FY24 guidance to $5.25-$5.40 EPS and its FY 2024 guidance to 5.250-5.400 EPS.

RTX Stock Performance

Shares of NYSE:RTX traded down $0.91 during trading on Wednesday, hitting $100.47. 2,012,484 shares of the company were exchanged, compared to its average volume of 8,184,706. The company has a market cap of $133.59 billion, a PE ratio of 45.07, a P/E/G ratio of 1.85 and a beta of 0.88. The stock has a 50 day moving average of $94.97 and a 200 day moving average of $87.12. RTX has a 52-week low of $68.56 and a 52-week 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.

RTX Announces Dividend

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

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent research reports. Susquehanna boosted their price objective on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday. Barclays boosted their price objective on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Robert W. Baird boosted 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. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Finally, Bank of America raised RTX from an “underperform” rating to a “neutral” rating and upped their target price for the company from $78.00 to $100.00 in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $94.00.

Insiders Place Their Bets

In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on 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 sale, the insider now owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s 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 completion of the sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Insiders have sold a total of 37,785 shares of company stock worth $3,448,188 over the last 90 days. Corporate 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.