RTX (NYSE:RTX) Updates FY 2024 Earnings Guidance

RTX (NYSE:RTXGet Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 5.250-5.400 for the period, compared to the consensus EPS estimate of 5.390. The company issued revenue guidance of $78.0 billion-$79.0 billion, compared to the consensus revenue estimate of $78.8 billion. RTX also updated its FY24 guidance to $5.25-$5.40 EPS.

Analyst Ratings Changes

A number of analysts have recently weighed in on RTX shares. Royal Bank of Canada increased their price objective on RTX from $82.00 to $88.00 and gave the company a sector perform rating in a research note on Monday, January 22nd. Wells Fargo & Company reaffirmed an overweight rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. TheStreet raised RTX from a c rating to a b- rating in a research note on Tuesday, January 23rd. TD Cowen boosted their price target on RTX from $106.00 to $115.00 and gave the company an outperform rating in a report on Tuesday, March 19th. Finally, Bank of America upgraded RTX from an underperform rating to a neutral rating and lifted their price objective for the stock from $78.00 to $100.00 in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $93.40.

View Our Latest Stock Analysis on RTX

RTX Price Performance

RTX stock traded up $0.65 during mid-day trading on Tuesday, reaching $102.21. 2,653,168 shares of the company’s stock traded hands, compared to its average volume of 8,183,603. RTX has a 12-month low of $68.56 and a 12-month high of $103.89. The company has a market cap of $135.90 billion, a price-to-earnings ratio of 45.35, a PEG ratio of 1.85 and a beta of 0.88. The stock has a 50 day moving average of $94.76 and a two-hundred day moving average of $86.89. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69.

RTX (NYSE:RTXGet Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $19.93 billion for the quarter, compared to the consensus estimate of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 earnings per share. Equities analysts forecast that RTX will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.31%. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Insiders Place Their Bets

In related news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the transaction, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares in the company, valued at $5,252,769.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock valued at $3,448,188 over the last 90 days. Insiders own 0.13% of the company’s stock.

RTX Company Profile

(Get Free Report)

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.

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