I'll be in Madrid at the end of the month with three friends and we're planning to make 3 or 4 day trips out of the city - Segovia, El Escorial, Toledo and Aranjuez. We'd like to try to visit Toledo and Aranjuez on the same day (if possible) - can anyone advise if this is feasible? Morning train from Madrid to Toledo, afternoon bus to Aranjuez and then evening C train back to Madrid. I can't tell if I'm interpreting the bus schedule correctly.

Thanks in advance for any advice you can provide!

I can't help you on that, but there is a cool day trip train ride called el tren de las fresas from Madrid to Aranjuez. Check Renfe. Could be fun!

its possible but do give them more time they deserve it and you will be happier to see it longer.