RTX (NYSE:RTX) Releases FY 2024 Earnings Guidance

RTX (NYSE:RTX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 5.350-5.450 for the period, compared to the consensus estimate of 4.950. The company issued revenue guidance of $78.8 billion-$79.5 billion, compared to the consensus revenue estimate of $72.8 billion.

RTX Stock Performance

Shares of RTX stock opened at $113.95 on Friday. The company has a 50 day moving average price of $104.47 and a 200-day moving average price of $98.31. RTX has a 52 week low of $68.56 and a 52 week high of $115.82. The firm has a market capitalization of $151.50 billion, a PE ratio of 44.69, a P/E/G ratio of 2.02 and a beta of 0.82. The company has a quick ratio of 0.79, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period in the previous year, the business posted $1.29 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts expect that RTX will post 5.42 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.21%. RTX’s dividend payout ratio (DPR) is 98.82%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RTX shares. Royal Bank of Canada boosted their target price on shares of RTX from $102.00 to $115.00 and gave the company a sector perform rating in a research report on Friday. Bank of America boosted their target price on shares of RTX from $100.00 to $110.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. Wells Fargo & Company cut their target price on shares of RTX from $491.00 to $467.00 and set an equal weight rating for the company in a research report on Wednesday. UBS Group lifted their price target on shares of RTX from $103.00 to $105.00 and gave the company a neutral rating in a report on Wednesday, April 24th. Finally, Melius Research lifted their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of Hold and a consensus price target of $148.69.

Insider Transactions at RTX

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