RTX (NYSE:RTX) Releases FY 2024 Earnings Guidance

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Barclays increased their price target on shares of RTX from $75.00 to $90.00 and gave the company an equal weight rating in a report on Tuesday, January 30th. Robert W. Baird increased their price target on shares of RTX from $94.00 to $105.00 and gave the company a neutral rating in a report on Monday, April 8th. Royal Bank of Canada increased their price target on shares of RTX from $82.00 to $88.00 and gave the company a sector perform rating in a report on Monday, January 22nd. UBS Group raised their target price on shares of RTX from $103.00 to $105.00 and gave the stock a neutral rating in a report on Wednesday. Finally, Bank of America upgraded shares of RTX from an underperform rating to a neutral rating and raised their target price for the stock from $78.00 to $100.00 in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $94.60.

RTX Stock Performance

RTX traded down $1.15 during trading on Wednesday, hitting $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 company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. RTX has a one year low of $68.56 and a one year high of $103.89. The firm has a market cap of $133.27 billion, a PE ratio of 44.73, a P/E/G ratio of 1.85 and a beta of 0.88. The business’s 50 day simple moving average is $94.97 and its 200-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 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.64% and a return on equity of 10.34%. The business had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same period last year, the firm earned $1.22 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that RTX will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

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

Insider Activity

In other news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were 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 in the company, valued at approximately $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 other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ramsaran Maharajh sold 312 shares of RTX 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 completion of the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock worth $3,448,188 in the last three months. Company insiders own 0.13% of the company’s stock.

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.