RTX (NYSE:RTX) Issues FY24 Earnings Guidance

RTX (NYSE:RTX) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $5.50-5.58 for the period, compared to the consensus EPS estimate of $5.47. The company issued revenue guidance of $79.25-79.75 billion, compared to the consensus revenue estimate of $79.45 billion. RTX also updated its FY 2024 guidance to 5.500-5.580 EPS.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Melius Research lifted their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. UBS Group raised their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company dropped their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. One 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $168.56.

RTX Price Performance

Shares of RTX opened at $125.18 on Friday. The company 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. RTX has a 1-year low of $77.76 and a 1-year high of $128.70. 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 current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

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

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. RTX’s payout ratio is 72.00%.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 6,734 shares of RTX 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 completion of the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 145,856 shares of company stock valued at $17,131,253 over the last ninety days. 0.13% of the stock is currently owned by company insiders.

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.