RTX (NYSE:RTX) Updates FY24 Earnings Guidance

RTX (NYSE:RTX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $5.25-$5.40 for the period, compared to the consensus earnings per share estimate of $5.40. The company issued revenue guidance of $78.0-$79.0 billion, compared to the consensus revenue estimate of $78.84 billion. RTX also updated its FY 2024 guidance to 5.250-5.400 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America raised RTX from an underperform rating to a neutral rating and increased their price target for the company from $78.00 to $100.00 in a research note on Thursday, January 25th. TheStreet raised RTX from a c rating to a b- rating in a research note on Tuesday, January 23rd. Barclays raised their price objective on RTX from $75.00 to $90.00 and gave the stock an equal weight rating in a research note on Tuesday, January 30th. Susquehanna increased their target price on RTX from $110.00 to $119.00 and gave the company a positive rating in a report on Wednesday. Finally, Wells Fargo & Company reiterated an overweight rating and set a $120.00 price objective on shares of RTX in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $94.00.

RTX Stock Performance

RTX stock traded down $1.02 during trading on Wednesday, reaching $100.36. 3,693,522 shares of the stock were exchanged, compared to its average volume of 8,203,819. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The stock has a 50 day simple moving average of $94.97 and a 200-day simple moving average of $87.12. The company has a market capitalization of $133.44 billion, a P/E ratio of 45.07, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. RTX has a twelve month low of $68.56 and a twelve month high of $103.89.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. RTX’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that RTX will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio is currently 105.36%.

Insiders Place Their Bets

In other news, COO Christopher T. Calio sold 367 shares of the firm’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 completion of the transaction, the chief operating officer now owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,785 shares of company stock worth $3,448,188. Corporate insiders own 0.13% of the company’s stock.

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.