RTX (NYSE:RTX) Announces Quarterly Earnings Results

RTX (NYSE:RTX) posted its quarterly earnings data on Tuesday. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11, Briefing.com reports. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 EPS. RTX updated its FY24 guidance to $5.25-$5.40 EPS and its FY 2024 guidance to 5.250-5.400 EPS.

RTX Stock Performance

RTX traded down $0.91 during trading on Wednesday, reaching $100.47. 2,012,484 shares of the company’s stock were exchanged, compared to its average volume of 8,184,706. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. 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 business has a 50 day moving average price of $94.97 and a 200 day moving average price of $87.12. The company has a market capitalization of $133.59 billion, a P/E ratio of 45.07, a PEG ratio of 1.85 and a beta of 0.88.

RTX Announces Dividend

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

Insiders Place Their Bets

In other RTX news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction on Wednesday, February 14th. The stock was 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 of the company’s stock, valued at $614,711.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other RTX news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction on Wednesday, February 14th. The stock was 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 of the company’s stock, valued at $614,711.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value 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 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Robert W. Baird upped their target price on 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 upped their target price on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Susquehanna upped their target price on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday. UBS Group increased their price objective on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, TD Cowen increased their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $94.00.

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.