RTX (NYSE:RTX) Releases FY 2024 Earnings Guidance

by · The Markets Daily

RTX (NYSE:RTX – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 5.500-5.580 for the period, compared to the consensus 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

A number of research firms recently issued reports on RTX. Melius Research boosted their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. The Goldman Sachs Group increased their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. Finally, Robert W. Baird increased their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $168.56.

Check Out Our Latest Research Report on RTX

RTX Stock Performance

RTX traded down $1.65 during midday trading on Thursday, hitting $125.56. 241,339 shares of the company traded hands, compared to its average volume of 6,743,111. 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 firm has a market capitalization of $167.02 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The company’s 50-day moving average is $121.46 and its 200 day moving average is $111.02. RTX has a 52 week low of $77.76 and a 52 week high of $128.70.

RTX (NYSE:RTX – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. The business 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%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. On average, research analysts expect that RTX will post 5.5 EPS for the current year.

RTX Dividend Announcement

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

Insider Transactions at RTX

In related news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last quarter. Company insiders own 0.13% of the company’s stock.

RTX Company Profile

(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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