RTX (NYSE:RTX) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

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

RTX Trading Down 1.1 %

NYSE:RTX traded down $1.07 during midday trading on Friday, hitting $100.64. 719,145 shares of the company traded hands, compared to its average volume of 8,136,012. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. The firm’s fifty day moving average is $95.36 and its 200-day moving average is $87.31. The firm has a market capitalization of $133.80 billion, a P/E ratio of 39.90, a P/E/G ratio of 1.84 and a beta of 0.88. RTX has a 12-month low of $68.56 and a 12-month high of $103.89.

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 was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is 92.55%.

Insider Buying and Selling at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock worth $3,448,188 over the last quarter. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on RTX shares. Citigroup increased their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank of Canada upped their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Susquehanna boosted their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday. Finally, UBS Group increased their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday. 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 company. According to MarketBeat, RTX currently has an average rating of “Hold” and an average target price of $96.27.

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.