RTX (NYSE:RTX) Releases FY24 Earnings Guidance

RTX (NYSE:RTX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.25-$5.40 for the period, compared to the consensus estimate of $5.40. The company issued revenue guidance of $78.0-$79.0 billion, compared to the consensus revenue estimate of $78.84 billion. RTX also updated its FY 2024 guidance to 5.250-5.400 EPS.

RTX Stock Performance

NYSE RTX opened at $101.59 on Tuesday. The firm has a market cap of $135.08 billion, a price-to-earnings ratio of 45.35, a PEG ratio of 1.85 and a beta of 0.88. The company has a 50 day moving average of $94.76 and a 200-day moving average of $86.89. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. RTX has a 1-year low of $68.56 and a 1-year high of $102.63.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. The company had revenue of $19.93 billion during the quarter, compared to analyst estimates of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $1.27 earnings per share. On average, equities analysts forecast that RTX will post 5.39 earnings per share 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 issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is 105.36%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. TheStreet raised shares of RTX from a c rating to a b- rating in a research note on Tuesday, January 23rd. Royal Bank of Canada lifted their price target on shares of RTX from $82.00 to $88.00 and gave the company a sector perform rating in a research note on Monday, January 22nd. TD Cowen lifted their price target on shares of RTX from $106.00 to $115.00 and gave the company an outperform rating in a research note on Tuesday, March 19th. UBS Group lifted their price objective on shares of RTX from $93.00 to $96.00 and gave the company a neutral rating in a research report on Wednesday, January 24th. Finally, Barclays lifted their price objective on shares of RTX from $75.00 to $90.00 and gave the company an equal weight rating in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $93.40.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 in the last three months. 0.13% of the stock is owned by corporate insiders.

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.