RTX (NYSE:RTX) Issues FY24 Earnings Guidance

RTX (NYSE:RTX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $5.25-$5.40 for the period, compared to the consensus EPS 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 Up 1.3 %

Shares of RTX stock traded up $1.31 during trading on Tuesday, reaching $102.87. The company’s stock had a trading volume of 2,064,734 shares, compared to its average volume of 8,166,255. The business has a fifty day moving average price of $94.76 and a 200-day moving average price of $86.89. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The company has a market cap of $136.78 billion, a price-to-earnings ratio of 45.35, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. RTX has a one year low of $68.56 and a one year high of $103.89.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $19.93 billion for 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 firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Analysts anticipate that RTX will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders 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 2.29%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio is presently 105.36%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RTX shares. UBS Group boosted their price objective on shares of RTX from $93.00 to $96.00 and gave the stock a neutral rating in a research report on Wednesday, January 24th. Robert W. Baird upped their price target on shares of RTX from $94.00 to $105.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Barclays upped their price target on shares of RTX from $75.00 to $90.00 and gave the stock an equal weight rating in a research report on Tuesday, January 30th. TD Cowen upped their price target on shares of RTX from $106.00 to $115.00 and gave the stock an outperform rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada upped their price target on shares of RTX from $82.00 to $88.00 and gave the stock a sector perform rating in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $93.40.

Insider Activity at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated 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 sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,785 shares of company stock worth $3,448,188. Corporate 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.