RTX (NYSE:RTX) Updates FY24 Earnings Guidance

RTX (NYSE:RTX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.50-5.58 for the period, compared to the consensus 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.

RTX Stock Performance

Shares of NYSE:RTX traded down $1.26 on Thursday, hitting $125.95. 417,497 shares of the company were exchanged, compared to its average volume of 6,743,966. RTX has a one year low of $77.76 and a one year high of $128.70. The firm has a market capitalization of $167.54 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 2.21 and a beta of 0.82. The company’s 50 day moving average price is $121.46 and its two-hundred day moving average price is $111.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $1.25 earnings per share. Research analysts expect that RTX will post 5.5 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analysts Set New Price Targets

RTX has been the topic of several recent analyst reports. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and increased their price objective for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Finally, Royal Bank of Canada upped their price target on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $168.56.

Insider Buying and Selling

In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the sale, the vice president now owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred 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 in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by company insiders.

RTX Company Profile

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.