RTX (NYSE:RTX) Announces Earnings Results

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

RTX Stock Down 0.4 %

RTX stock opened at $101.02 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.78. RTX has a 1-year low of $68.56 and a 1-year high of $103.89. The firm has a fifty day moving average price of $95.16 and a two-hundred day moving average price of $87.21. The firm has a market cap of $134.32 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 1.84 and a beta of 0.88.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were paid a $0.59 dividend. 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 presently 92.55%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RTX shares. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. TD Cowen increased their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. UBS Group upped their target price on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays upped their target price on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Finally, Citigroup increased their price objective on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, RTX presently has an average rating of “Hold” and a consensus target price of $96.27.

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction 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 owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction 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 transaction, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 over the last 90 days. 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.