RTX (NYSE:RTX) Releases FY 2024 Earnings Guidance

RTX (NYSE:RTX) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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.

RTX Stock Performance

RTX opened at $101.59 on Tuesday. The business’s 50-day moving average price is $94.76 and its two-hundred day moving average price is $86.89. RTX has a 1 year low of $68.56 and a 1 year high of $102.63. The company has a market capitalization of $135.08 billion, a price-to-earnings ratio of 45.35, a P/E/G ratio of 1.85 and a beta of 0.88. 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 (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.04. The firm had revenue of $19.93 billion for the quarter, compared to the consensus estimate of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $1.27 EPS. Equities analysts expect that RTX will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is currently 105.36%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RTX. TD Cowen lifted their target price on RTX from $106.00 to $115.00 and gave the company an outperform rating in a research report on Tuesday, March 19th. UBS Group lifted their target price on RTX from $93.00 to $96.00 and gave the company a neutral rating in a research report on Wednesday, January 24th. TheStreet raised RTX from a c rating to a b- rating in a research report on Tuesday, January 23rd. Barclays lifted their price target on RTX from $75.00 to $90.00 and gave the stock an equal weight rating in a report on Tuesday, January 30th. Finally, Robert W. Baird lifted their price target on RTX from $94.00 to $105.00 and gave the stock a neutral rating in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $93.40.

Insider Transactions at RTX

In other news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s 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 transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. 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 quarter. 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.