RTX (NYSE:RTX) Releases Earnings Results, Beats Expectations By $0.11 EPS

RTX (NYSE:RTX) posted its quarterly earnings results on Tuesday. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11, Briefing.com reports. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. RTX updated its FY 2024 guidance to 5.500-5.580 EPS and its FY24 guidance to $5.50-5.58 EPS.

RTX Trading Down 1.3 %

NYSE:RTX traded down $1.69 during mid-day trading on Thursday, reaching $125.52. 231,531 shares of the company’s stock traded hands, compared to its average volume of 6,743,064. RTX has a 12-month low of $77.76 and a 12-month high of $128.70. The firm has a market capitalization of $166.97 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 2.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a 50 day moving average price of $121.46 and a 200-day moving average price of $111.02.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. RTX’s dividend payout ratio is currently 72.00%.

Insider Activity at RTX

In related news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other RTX news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on 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 sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RTX shares. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company reduced their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group upped their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $168.56.

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.