RTX (RTX) Scheduled to Post Earnings on Tuesday

RTX (NYSE:RTX) is set to post its quarterly earnings results before the market opens on Tuesday, April 23rd. Analysts expect RTX to post 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.Individual interested in registering for the company’s earnings conference call can do so using this link.

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

RTX Stock Down 0.1 %

RTX opened at $100.02 on Tuesday. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $104.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The firm’s fifty day moving average price is $93.79 and its two-hundred day moving average price is $85.82. The company has a market capitalization of $132.99 billion, a P/E ratio of 44.65, a P/E/G ratio of 1.82 and a beta of 0.88.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.36%. RTX’s dividend payout ratio is currently 105.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. TheStreet upgraded 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 price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Barclays lifted their price objective on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. TD Cowen lifted their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Finally, Robert W. Baird lifted their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.44.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was 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 directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the sale, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The sale 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 business’s 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 transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The disclosure for this sale can be found here. In the last three months, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RTX

Several institutional investors have recently modified their holdings of the stock. Hobbs Group Advisors LLC acquired a new position in shares of RTX during the 4th quarter worth about $84,000. SageView Advisory Group LLC acquired a new position in shares of RTX during the 4th quarter worth about $1,485,000. GR Financial Group LLC acquired a new position in shares of RTX during the 4th quarter worth about $1,591,000. Mango Five Family Inc. acquired a new position in shares of RTX during the 4th quarter worth about $340,000. Finally, Venture Visionary Partners LLC grew its position in shares of RTX by 1.6% during the 4th quarter. Venture Visionary Partners LLC now owns 170,540 shares of the company’s stock worth $14,349,000 after buying an additional 2,724 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.