RTX (NYSE:RTX) Issues Earnings Results

RTX (NYSE:RTX) released its quarterly earnings results on Tuesday. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s revenue for the quarter 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 Up 0.5 %

NYSE RTX traded up $0.63 during mid-day trading on Wednesday, reaching $126.16. The stock had a trading volume of 286,138 shares, compared to its average volume of 6,749,631. RTX has a 1 year low of $76.96 and a 1 year high of $128.70. The stock has a market cap of $167.73 billion, a PE ratio of 49.37, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82. The company has a fifty day moving average price of $121.27 and a 200 day moving average price of $110.91. 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. 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 yield of 2.00%. RTX’s payout ratio is currently 98.82%.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the sale, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 sale, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the sale, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RTX shares. Royal Bank of Canada raised their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Citigroup raised their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company cut their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $165.88.

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.