RTX (NYSE:RTX) Updates FY 2024 Earnings Guidance

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

Analyst Ratings Changes

Several analysts recently issued reports on RTX shares. Royal Bank of Canada increased their price objective on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. The Goldman Sachs Group lifted their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company lowered their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, RTX has a consensus rating of “Hold” and a consensus 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 stock has a market cap of $166.89 billion, a PE ratio of 49.23, a PEG ratio of 2.24 and a beta of 0.82. The firm has a 50-day simple moving average of $121.27 and a 200 day simple moving average of $110.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 dividend on an annualized basis and a dividend yield of 2.01%. RTX’s dividend payout ratio is 98.82%.

Insider Buying and Selling at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by corporate 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.