RTX (RTX) to Release Quarterly Earnings on Tuesday

RTX (NYSE:RTX) will be issuing its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.23 per share for the quarter. RTX has set its FY24 guidance at $5.25-5.40 EPS and its FY 2024 guidance at 5.250-5.400 EPS.Parties interested in listening to the company’s conference call can do so using this link.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm had revenue of $19.93 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same period in the prior year, the firm posted $1.27 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts expect RTX to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

RTX Trading Up 0.8 %

RTX stock opened at $101.56 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. RTX has a one year low of $68.56 and a one year high of $103.32. The stock has a market capitalization of $135.04 billion, a PE ratio of 45.34, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. The business’s fifty day moving average is $94.55 and its 200 day moving average is $86.55.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.32%. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Analyst Ratings Changes

Several equities research analysts recently commented on RTX shares. Royal Bank of Canada increased their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Barclays increased their price objective on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. UBS Group increased their price objective on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Finally, TD Cowen increased their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $93.40.

Insider Transactions at RTX

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

Institutional Trading of RTX

Several institutional investors have recently made changes to their positions in RTX. Norges Bank purchased a new stake in shares of RTX during the fourth quarter worth about $1,580,608,000. Moneta Group Investment Advisors LLC grew its holdings in RTX by 87,932.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after buying an additional 13,598,794 shares in the last quarter. Dodge & Cox grew its holdings in RTX by 29.7% during the 4th quarter. Dodge & Cox now owns 42,189,300 shares of the company’s stock valued at $3,549,808,000 after buying an additional 9,659,760 shares in the last quarter. Morgan Stanley grew its holdings in RTX by 11.3% during the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after buying an additional 3,104,282 shares in the last quarter. Finally, Capital World Investors grew its holdings in RTX by 32.8% during the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after buying an additional 2,256,475 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

About RTX

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.