RTX (NYSE:RTX) Announces Earnings Results

RTX (NYSE:RTX) posted its earnings results on Tuesday. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11, Briefing.com reports. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 EPS. RTX updated its FY24 guidance to $5.25-$5.40 EPS and its FY 2024 guidance to 5.250-5.400 EPS.

RTX Stock Performance

RTX traded down $1.07 during trading on Friday, hitting $100.64. The stock had a trading volume of 719,145 shares, compared to its average volume of 8,136,012. RTX has a twelve month low of $68.56 and a twelve month high of $103.89. The firm has a market capitalization of $133.80 billion, a P/E ratio of 39.90, a PEG ratio of 1.84 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 1.07. The company’s 50-day moving average price is $95.36 and its 200 day moving average price is $87.31.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is currently 92.55%.

Analysts Set New Price Targets

Several brokerages recently weighed in on RTX. Bank of America increased their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday. Susquehanna increased their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Royal Bank of Canada lifted their target price on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Finally, Barclays raised their price target on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus target price of $96.27.

Insider Activity

In related news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the transaction, the executive vice president now directly owns 11,676 shares in the company, valued at approximately $1,076,176.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The disclosure for this sale can be found here. Insiders have sold a total of 37,785 shares of company stock valued at $3,448,188 over the last quarter. Corporate 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.