RTX (NYSE:RTX) Issues FY24 Earnings Guidance

by · The Markets Daily

RTX (NYSE:RTX – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $5.50-5.58 for the period, compared to the consensus EPS estimate of $5.47. The company issued revenue guidance of $79.25-79.75 billion, compared to the consensus revenue estimate of $79.45 billion. RTX also updated its FY 2024 guidance to 5.500-5.580 EPS.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Robert W. Baird increased their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. UBS Group increased their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and increased their price objective for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $168.56.

View Our Latest Stock Analysis on RTX

RTX Trading Down 1.6 %

Shares of RTX stock opened at $125.18 on Friday. The stock has a market capitalization of $166.52 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 2.21 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 0.62. The company has a 50-day simple moving average of $121.59 and a 200 day simple moving average of $111.12. RTX has a 12-month low of $77.76 and a 12-month high of $128.70.

RTX (NYSE:RTX – Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the company posted $1.25 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts expect that RTX will post 5.5 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued 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 is Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

Insiders Place Their Bets

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the 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 sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the 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 sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 145,856 shares of company stock valued at $17,131,253 in the last 90 days. 0.13% of the stock is currently owned by insiders.

About RTX

(Get Free Report)

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.

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