RTX (NYSE:RTX) Updates FY 2024 Earnings Guidance

RTX (NYSE:RTX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 5.500-5.580 for the period, compared to the consensus EPS estimate of 5.470. The company issued revenue guidance of $79.3 billion-$79.8 billion, compared to the consensus revenue estimate of $79.5 billion. RTX also updated its FY24 guidance to $5.50-5.58 EPS.

RTX Trading Down 1.6 %

Shares of NYSE:RTX opened at $125.18 on Friday. The firm has a market cap of $166.52 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.21 and a beta of 0.82. The company’s fifty day simple moving average is $121.59 and its 200 day simple moving average is $111.12. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX has a 12 month low of $77.76 and a 12 month high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 EPS. As a group, research analysts forecast that RTX will post 5.5 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada lifted their price objective on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday. UBS Group increased their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday. Melius Research raised their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Citigroup boosted their price target on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $168.56.

Insider Buying and Selling

In other RTX news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 145,856 shares of company stock worth $17,131,253 in the last ninety days. 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.