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

RTX (NYSE:RTX) posted its quarterly earnings data 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 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the firm earned $1.25 EPS. The business’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 Trading Up 0.3 %

Shares of NYSE RTX traded up $0.39 during trading hours on Friday, hitting $125.56. 159,079 shares of the company traded hands, compared to its average volume of 6,730,292. The stock has a market capitalization of $166.93 billion, a price-to-earnings ratio of 49.09, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average price is $121.59 and its 200 day moving average price is $111.12. RTX has a 12 month low of $77.76 and a 12 month high of $128.70.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. 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 is currently 98.82%.

Analyst Ratings Changes

RTX has been the topic of a number of research analyst reports. Susquehanna boosted their price target on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday. Robert W. Baird boosted their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. UBS Group boosted their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday. The Goldman Sachs Group boosted their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company lowered their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $168.56.

Insider Activity

In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,856 shares of company stock valued at $17,131,253. 0.13% of the stock is currently owned by insiders.

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.