RTX (NYSE:RTX) Issues FY 2024 Earnings Guidance

RTX (NYSE:RTX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 5.500-5.580 for the period, compared to the consensus earnings per share 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. RTX also updated its FY24 guidance to $5.50-5.58 EPS.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Melius Research increased their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Wells Fargo & Company reduced their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Citigroup raised their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research note on Tuesday, July 30th. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $165.25.

RTX Stock Down 0.3 %

NYSE:RTX opened at $125.53 on Wednesday. RTX has a twelve month low of $72.52 and a twelve month high of $128.70. The firm has a market capitalization of $166.89 billion, a price-to-earnings ratio of 49.23, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $121.27 and its two-hundred day moving average price is $110.91.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that RTX will post 5.45 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction that occurred on Friday, July 26th. The shares were 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 directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred 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 in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by 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.