RTX (NYSE:RTX) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

RTX (NYSE:RTX) posted its quarterly earnings results on Thursday. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12, Briefing.com reports. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period last year, the firm earned $1.29 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. RTX updated its FY 2024 guidance to 5.350-5.450 EPS.

RTX Stock Performance

Shares of RTX opened at $113.95 on Friday. RTX has a 52-week low of $68.56 and a 52-week high of $115.82. The firm has a market capitalization of $151.50 billion, a PE ratio of 44.69, a P/E/G ratio of 2.01 and a beta of 0.82. The firm has a 50-day moving average price of $104.47 and a 200 day moving average price of $98.22. The company has a quick ratio of 0.79, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Insider Transactions at RTX

In related news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday. TD Cowen increased their target price on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday. Susquehanna lifted their price target on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday. UBS Group boosted their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, 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 note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $148.69.

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.