RTX (NYSE:RTX) Releases Earnings Results, Beats Expectations By $0.11 EPS

RTX (NYSE:RTX) released its quarterly earnings results on Tuesday. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11, Briefing.com reports. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. RTX’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 earnings per share. RTX updated its FY24 guidance to $5.25-$5.40 EPS and its FY 2024 guidance to 5.250-5.400 EPS.

RTX Price Performance

Shares of RTX opened at $101.02 on Thursday. RTX has a 12-month low of $68.56 and a 12-month high of $103.89. The business has a 50-day simple moving average of $95.16 and a two-hundred day simple moving average of $87.21. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a market cap of $134.32 billion, a PE ratio of 39.62, a PEG ratio of 1.84 and a beta of 0.88.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.34%. RTX’s dividend payout ratio (DPR) is currently 92.55%.

Insiders Place Their Bets

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the sale, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. 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 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

RTX has been the topic of a number of recent research reports. Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday. Bank of America lifted their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday. Susquehanna boosted their price target on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday. TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 price target on shares of RTX in a research report on Monday, April 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $96.27.

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.