RTX (NYSE:RTX) Announces Quarterly Earnings Results

RTX (NYSE:RTX) released its earnings results on Tuesday. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11, Briefing.com reports. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the company earned $1.25 earnings per share. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. RTX updated its FY 2024 guidance to 5.500-5.580 EPS and its FY24 guidance to $5.50-5.58 EPS.

RTX Stock Up 0.3 %

RTX traded up $0.36 on Wednesday, reaching $125.89. The company’s stock had a trading volume of 820,277 shares, compared to its average volume of 6,752,236. RTX has a 1 year low of $76.96 and a 1 year high of $128.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a market cap of $167.37 billion, a price-to-earnings ratio of 49.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82. The business’s 50 day moving average is $121.27 and its 200 day moving average is $110.91.

RTX Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on RTX. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Morgan Stanley boosted their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup lifted their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lowered their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $165.88.

Insider Transactions at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock valued at $20,861,880. Insiders own 0.13% of the company’s stock.

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.