RTX (NYSE:RTX) Issues Earnings Results

RTX (NYSE:RTX) released its quarterly earnings results on Tuesday. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11, Briefing.com reports. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period last year, the business posted $1.25 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. RTX updated its FY 2024 guidance to 5.500-5.580 EPS and its FY24 guidance to $5.50-5.58 EPS.

RTX Stock Performance

Shares of RTX traded up $0.36 during mid-day trading on Wednesday, reaching $125.89. 820,277 shares of the company’s stock were exchanged, compared to its average volume of 6,752,236. The business’s fifty day simple moving average is $121.27 and its 200-day simple moving average is $110.91. RTX has a 52-week low of $76.96 and a 52-week high of $128.70. The stock has a market capitalization of $167.37 billion, a PE ratio of 49.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is currently 98.82%.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. Robert W. Baird upped their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. raised their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $165.88.

Insider Buying and Selling

In other RTX news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. 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. Also, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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.

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.