RTX (NYSE:RTX) Issues FY 2024 Earnings Guidance

RTX (NYSE:RTX - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 5.250-5.400 for the period, compared to the consensus earnings per share estimate of 5.390. The company issued revenue guidance of $78.0 billion-$79.0 billion, compared to the consensus revenue estimate of $78.8 billion. RTX also updated its FY24 guidance to $5.25-$5.40 EPS.

RTX Stock Down 0.2 %

Shares of RTX stock traded down $0.22 during trading hours on Tuesday, reaching $101.34. The company had a trading volume of 8,567,400 shares, compared to its average volume of 8,264,439. The stock's fifty day simple moving average is $94.97 and its 200 day simple moving average is $87.12. The company has a market capitalization of $134.75 billion, a P/E ratio of 45.24, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. RTX has a twelve month low of $68.56 and a twelve month high of $103.89.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.04. The company had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The business's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 earnings per share. As a group, sell-side analysts expect that RTX will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.33%. RTX's dividend payout ratio is presently 105.36%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of RTX from $82.00 to $88.00 and gave the company a sector perform rating in a report on Monday, January 22nd. Barclays lifted their price target on RTX from $75.00 to $90.00 and gave the stock an equal weight rating in a research note on Tuesday, January 30th. Bank of America upgraded RTX from an underperform rating to a neutral rating and upped their price objective for the company from $78.00 to $100.00 in a research note on Thursday, January 25th. TheStreet upgraded RTX from a c rating to a b- rating in a research report on Tuesday, January 23rd. Finally, Robert W. Baird upped their price target on RTX from $94.00 to $105.00 and gave the company a neutral rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $93.40.

Insider Activity at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the business's 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 sale, the insider now owns 6,741 shares of the company's stock, valued at approximately $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company's 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 transaction, the insider now owns 6,741 shares of the company's stock, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ramsaran Maharajh sold 312 shares of the firm's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares of the company's stock, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold a total of 37,785 shares of company stock worth $3,448,188 in the last three months. 0.13% of the stock is owned by company insiders.

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.