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

RTX (NYSE:RTX) posted its quarterly earnings results on Thursday. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11, Briefing.com reports. 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 company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.29 EPS. RTX updated its FY 2024 guidance to 5.350-5.450 EPS.

RTX Stock Performance

Shares of RTX opened at $113.95 on Friday. The firm’s 50 day moving average is $104.47 and its 200-day moving average is $98.22. The stock has a market capitalization of $151.50 billion, a P/E ratio of 44.69, a P/E/G ratio of 2.01 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.79. RTX has a 12-month low of $68.56 and a 12-month high of $115.82.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.21%. RTX’s dividend payout ratio is currently 98.82%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Melius Research lifted their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday. TD Cowen lifted their price objective on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada boosted their price target on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Citigroup boosted their price target on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus price target of $148.69.

Insider Transactions at RTX

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. 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.