RTX (NYSE:RTX) Updates FY 2024 Earnings Guidance

RTX (NYSE:RTX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 5.500-5.580 for the period, compared to the consensus EPS estimate of 5.470. The company issued revenue guidance of $79.3 billion-$79.8 billion, compared to the consensus revenue estimate of $79.5 billion.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Citigroup raised their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Melius Research boosted their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and increased their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Susquehanna boosted their price target on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Finally, Robert W. Baird lifted their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $162.50.

RTX Trading Down 0.0 %

NYSE RTX opened at $125.90 on Tuesday. RTX has a 12-month low of $72.52 and a 12-month high of $127.00. The company has a fifty day simple moving average of $120.91 and a two-hundred day simple moving average of $110.55. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock has a market cap of $167.38 billion, a P/E ratio of 49.37, a P/E/G ratio of 2.24 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. On average, analysts forecast that RTX will post 5.45 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 98.82%.

Insider Transactions at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s 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 in the company, 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 at this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The stock was 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 owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares in the company, valued at $4,463,273.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 over the last 90 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.