RTX (NYSE:RTX) Releases FY24 Earnings Guidance

RTX (NYSE:RTX) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $5.25-$5.40 for the period, compared to the consensus EPS 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.

RTX Stock Down 0.0 %

RTX stock opened at $101.69 on Friday. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The stock has a fifty day moving average of $95.36 and a 200-day moving average of $87.31. The company has a market capitalization of $135.20 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 1.84 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 1.07.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $1.22 EPS. As a group, equities research analysts predict that RTX will post 5.4 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is presently 92.55%.

Wall Street Analyst Weigh In

Several brokerages recently commented on RTX. Royal Bank of Canada boosted their price objective on shares of RTX from $82.00 to $88.00 and gave the company a sector perform rating in a research note on Monday, January 22nd. Bank of America boosted their price objective on shares of RTX from $100.00 to $110.00 and gave the company a neutral rating in a research note on Wednesday. Wells Fargo & Company reaffirmed an overweight rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Susquehanna upped their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a positive rating in a research report on Wednesday. Finally, TheStreet upgraded shares of RTX from a c rating to a b- rating in a research report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $96.27.

Insiders Place Their Bets

In other RTX news, COO Christopher T. Calio sold 367 shares of the stock in a transaction on 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 sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. In other RTX news, COO Christopher T. Calio sold 367 shares of the stock in a transaction on 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 sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction 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 sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. In the last quarter, 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.