RTX (RTX)
Market Price (2/11/2026): $195.19 | Market Cap: $262.5 BilSector: Industrials | Industry: Aerospace & Defense
RTX (RTX)
Market Price (2/11/2026): $195.19Market Cap: $262.5 BilSector: IndustrialsIndustry: Aerospace & Defense
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 11 Bil, FCF LTM is 7.4 Bil | Trading close to highsDist 52W High is -4.1%, Dist 3Y High is -4.1% | Key risksRTX key risks include [1] the significant multi-billion dollar financial and operational disruption caused by the Pratt & Whitney GTF engine's powdered metal defect. |
| Low stock price volatilityVol 12M is 27% | ||
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space, Cybersecurity, and Advanced Materials. Themes include Commercial Space Exploration, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 11 Bil, FCF LTM is 7.4 Bil |
| Low stock price volatilityVol 12M is 27% |
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space, Cybersecurity, and Advanced Materials. Themes include Commercial Space Exploration, Show more. |
| Trading close to highsDist 52W High is -4.1%, Dist 3Y High is -4.1% |
| Key risksRTX key risks include [1] the significant multi-billion dollar financial and operational disruption caused by the Pratt & Whitney GTF engine's powdered metal defect. |
Qualitative Assessment
AI Analysis | Feedback
1. Strong Q4 2025 Earnings Beat and Optimistic 2026 Outlook. RTX reported fourth-quarter 2025 results on January 27, 2026, exceeding analyst expectations for both revenue and adjusted earnings per share (EPS). The company's revenue reached $24.24 billion, surpassing estimates by 7% and growing 12.1% year-on-year, while adjusted EPS of $1.55 beat consensus estimates by 5.3%. This strong financial performance for 2025 was coupled with a confident outlook for 2026, projecting adjusted sales between $92 billion and $93 billion, adjusted EPS between $6.60 and $6.80, and free cash flow between $8.25 billion and $8.75 billion. This positive guidance reinforced investor confidence in the company's future growth trajectory.
2. Record Backlog and Robust Demand Across Segments. RTX concluded 2025 with a record backlog of $268 billion, representing a 23% increase year-over-year. This substantial backlog includes approximately $161 billion in commercial orders and $107 billion in defense awards, providing significant multi-year revenue visibility. Key drivers of this demand included major orders for over 1,500 geared turbofan (GTF) engines and 2,400 Pratt Canada engines, alongside significant defense contracts such as a $1.2 billion award to supply Spain with Patriot air and missile defense systems.
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Stock Movement Drivers
Fundamental Drivers
The 9.8% change in RTX stock from 10/31/2025 to 2/10/2026 was primarily driven by a 7.7% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 2102026 | Change |
|---|---|---|---|
| Stock Price ($) | 177.80 | 195.19 | 9.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 85,988 | 88,603 | 3.0% |
| Net Income Margin (%) | 7.7% | 7.6% | -0.9% |
| P/E Multiple | 36.2 | 39.0 | 7.7% |
| Shares Outstanding (Mil) | 1,343 | 1,345 | -0.1% |
| Cumulative Contribution | 9.8% |
Market Drivers
10/31/2025 to 2/10/2026| Return | Correlation | |
|---|---|---|
| RTX | 9.8% | |
| Market (SPY) | 1.5% | 40.2% |
| Sector (XLI) | 12.2% | 57.6% |
Fundamental Drivers
The 24.9% change in RTX stock from 7/31/2025 to 2/10/2026 was primarily driven by a 14.4% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 2102026 | Change |
|---|---|---|---|
| Stock Price ($) | 156.26 | 195.19 | 24.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 83,599 | 88,603 | 6.0% |
| Net Income Margin (%) | 7.4% | 7.6% | 3.3% |
| P/E Multiple | 34.1 | 39.0 | 14.4% |
| Shares Outstanding (Mil) | 1,341 | 1,345 | -0.3% |
| Cumulative Contribution | 24.9% |
Market Drivers
7/31/2025 to 2/10/2026| Return | Correlation | |
|---|---|---|
| RTX | 24.9% | |
| Market (SPY) | 9.8% | 32.3% |
| Sector (XLI) | 14.9% | 52.0% |
Fundamental Drivers
The 54.2% change in RTX stock from 1/31/2025 to 2/10/2026 was primarily driven by a 27.3% change in the company's Net Income Margin (%).| (LTM values as of) | 1312025 | 2102026 | Change |
|---|---|---|---|
| Stock Price ($) | 126.59 | 195.19 | 54.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 79,042 | 88,603 | 12.1% |
| Net Income Margin (%) | 6.0% | 7.6% | 27.3% |
| P/E Multiple | 35.8 | 39.0 | 9.0% |
| Shares Outstanding (Mil) | 1,333 | 1,345 | -0.9% |
| Cumulative Contribution | 54.2% |
Market Drivers
1/31/2025 to 2/10/2026| Return | Correlation | |
|---|---|---|
| RTX | 54.2% | |
| Market (SPY) | 16.0% | 39.9% |
| Sector (XLI) | 27.0% | 52.7% |
Fundamental Drivers
The 109.2% change in RTX stock from 1/31/2023 to 2/10/2026 was primarily driven by a 34.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312023 | 2102026 | Change |
|---|---|---|---|
| Stock Price ($) | 93.32 | 195.19 | 109.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 66,025 | 88,603 | 34.2% |
| Net Income Margin (%) | 6.8% | 7.6% | 12.5% |
| P/E Multiple | 30.8 | 39.0 | 26.8% |
| Shares Outstanding (Mil) | 1,470 | 1,345 | 9.3% |
| Cumulative Contribution | 109.2% |
Market Drivers
1/31/2023 to 2/10/2026| Return | Correlation | |
|---|---|---|
| RTX | 109.2% | |
| Market (SPY) | 76.6% | 31.6% |
| Sector (XLI) | 78.2% | 47.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RTX Return | 23% | 20% | -14% | 41% | 61% | 7% | 208% |
| Peers Return | 16% | 18% | 24% | 10% | 33% | 15% | 186% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 2% | 85% |
Monthly Win Rates [3] | |||||||
| RTX Win Rate | 67% | 58% | 42% | 58% | 75% | 50% | |
| Peers Win Rate | 48% | 60% | 55% | 58% | 60% | 90% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| RTX Max Drawdown | -8% | -4% | -30% | 0% | -1% | 0% | |
| Peers Max Drawdown | -6% | -17% | -12% | -14% | -10% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LMT, NOC, BA, GD, GE. See RTX Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/10/2026 (YTD)
How Low Can It Go
| Event | RTX | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -33.7% | -25.4% |
| % Gain to Breakeven | 50.9% | 34.1% |
| Time to Breakeven | 217 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -52.2% | -33.9% |
| % Gain to Breakeven | 109.2% | 51.3% |
| Time to Breakeven | 662 days | 148 days |
| 2018 Correction | ||
| % Loss | -28.2% | -19.8% |
| % Gain to Breakeven | 39.2% | 24.7% |
| Time to Breakeven | 126 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -54.2% | -56.8% |
| % Gain to Breakeven | 118.5% | 131.3% |
| Time to Breakeven | 689 days | 1,480 days |
Compare to LMT, NOC, BA, GD, GE
In The Past
RTX's stock fell -33.7% during the 2022 Inflation Shock from a high on 4/18/2023. A -33.7% loss requires a 50.9% gain to breakeven.
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About RTX (RTX)
AI Analysis | Feedback
RTX (Raytheon Technologies) could be described as:
- Boeing meets Lockheed Martin
- The General Electric of aerospace and defense
AI Analysis | Feedback
- Aircraft Engines: Develops, manufactures, and services jet engines for commercial, military, and business aviation platforms.
- Aerospace Systems: Provides a wide range of integrated systems and components for commercial and military aircraft, including avionics, interiors, and power and control systems.
- Missile Defense & Weapons: Produces advanced missile defense systems, precision-guided munitions, and integrated defense solutions for air and ground applications.
- Intelligence & Space Solutions: Offers advanced sensors, secure communications, cyber solutions, and command & control systems for defense, intelligence, and civil applications.
AI Analysis | Feedback
RTX (Raytheon Technologies) primarily sells to governments and other companies, rather than directly to individuals. Its business model is largely Business-to-Government (B2G) and Business-to-Business (B2B).
Its major customers include:
- Governments: The U.S. Government, particularly the Department of Defense, is RTX's largest single customer. Various international governments and defense ministries also represent significant customers globally for defense systems, missile systems, and intelligence solutions. These are not public companies.
-
Commercial Aerospace Companies:
- The Boeing Company (symbol: BA): A major customer for aircraft engines (via its Pratt & Whitney division), avionics, and various aerospace systems across its commercial and defense platforms.
- Airbus SE (symbol: EADSY): A significant customer for aircraft engines (via its Pratt & Whitney division) and other aerospace components for its commercial aircraft.
- Other aircraft manufacturers and major airlines (for maintenance, repair, and overhaul services or direct parts supply) are also customers.
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- Howmet Aerospace (HWM)
- ATI Inc. (ATI)
- Carpenter Technology Corporation (CRS)
- Parker-Hannifin Corporation (PH)
- Eaton Corporation (ETN)
- Safran S. A. (SAF.PA)
- Honeywell International (HON)
- Spirit AeroSystems (SPR)
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Christopher T. Calio, Chairman & Chief Executive Officer
Christopher T. Calio is the Chairman and Chief Executive Officer of RTX, having been appointed President and CEO in May 2024 and elected Chairman effective April 30, 2025. He leads a global team of over 185,000 employees. Calio joined the former United Technologies Corporation (UTC) in 2005 and has held numerous leadership positions within UTC and its aerospace businesses. His previous roles include Chief Operating Officer for RTX, where he managed the realignment of the company into three business segments, and President of Pratt & Whitney, an RTX subsidiary. While Calio has not founded or managed other independent companies, he led Pratt & Whitney's Commercial Engines Legal Department during key developments and acquisitions, including the company's acquisition of Rolls-Royce's share in the International Aero Engines collaboration. RTX, under Calio's leadership, agreed to sell its cybersecurity, intelligence, and services business segment to the private equity firm Blackstone in 2025.
Neil G. Mitchill Jr., Chief Financial Officer
Neil G. Mitchill Jr. is the Chief Financial Officer of RTX, a position he has held since April 2021. His responsibilities encompass financial reporting and controls, planning and analysis, investor relations, internal audit, tax, and treasury. Mitchill joined United Technologies Corporation (UTC) in 2014 and served in various financial leadership capacities, including acting Senior Vice President and CFO of UTC, and Vice President and CFO of UTC's Pratt & Whitney business, prior to the merger with Raytheon Company in 2020. Before joining UTC, he spent 17 years at PricewaterhouseCoopers LLP, where he held client service and lead partner roles for industrial products companies. No information is available regarding him founding or managing other companies, selling companies he was previously involved with to an acquirer, or a pattern of managing companies backed by private equity firms.
Shane G. Eddy, President, Pratt & Whitney
Shane G. Eddy is the President of Pratt & Whitney, an RTX business, a role he assumed on March 1, 2022. He brings over 35 years of experience in the aerospace industry, leading more than 40,000 employees in the design, manufacture, and service of aircraft engines and auxiliary power units. Prior to his current position, Eddy served as Pratt & Whitney's Senior Vice President and Chief Operations Officer. His extensive career also includes leadership roles at GE Aviation, Sikorsky Aircraft Corporation, and Bell Helicopter Textron. He joined Pratt & Whitney in 2016.
Philip Jasper, President, Raytheon
Philip Jasper serves as the President of Raytheon, one of RTX's three business segments. In this role, he leads the Raytheon unit, which combines the company's weapons and space arms.
Troy D. Brunk, President, Collins Aerospace
Troy D. Brunk is the President of Collins Aerospace, another key business segment of RTX. Collins Aerospace provides technologically advanced aerospace products and aftermarket service solutions for a wide range of customers.
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Key Risks to RTX Business
- Pratt & Whitney GTF Engine Powdered Metal Issue: This represents a significant financial drain and operational disruption for RTX. The crisis necessitates accelerated inspections and repairs for a major portion of the PW1100 engine fleet, leading to estimated impacts of approximately $1.5 billion to free cash flow in 2025 and a total pre-tax operating profit impact of $3 billion to $3.5 billion over several years.
- Supply Chain Constraints and Inflation: RTX faces ongoing challenges from supply chain issues, particularly concerning structural castings and isothermal forgings. These disruptions, coupled with persistent inflation, contribute to increased material, component, and labor costs, which in turn impact operating profits and margins.
- Geopolitical Risks and Dependence on Government Contracts: The company is exposed to risks stemming from geopolitical factors, including potential changes in U.S. government defense spending and international trade policies, which can negatively affect sales and operations. Risks associated with U.S. government contracts include potential terminations, performance delays, and cost overruns, particularly with fixed-price agreements. Additionally, tariffs are noted as a financial headwind, with an anticipated $500 million in tariff-related costs for 2025.
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The widespread proliferation and effective deployment of low-cost, mass-produced autonomous systems and drones in modern conflicts present a clear emerging threat. This trend challenges the traditional paradigm of high-value, sophisticated defense platforms and precision weaponry, which comprise a significant portion of RTX's portfolio. The demonstrated ability of inexpensive, readily available drones to impact military operations could lead to a fundamental shift in defense spending priorities towards distributed, expendable, and more cost-effective solutions, potentially reducing demand for some of RTX's core high-cost, high-technology products and systems if they are seen as economically inefficient against such evolving threats.
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RTX (symbol: RTX) operates through three primary business segments: Collins Aerospace, Pratt & Whitney, and Raytheon. Each segment addresses significant markets within the global aerospace and defense industries.
Collins Aerospace
Collins Aerospace designs, manufactures, and services systems and components for commercial, regional, business, and military aircraft, as well as space operations. Its offerings include aerospace systems, avionics, aerostructures, interiors, mechanical systems, mission systems, power and controls, and information management services.
- Commercial Aerospace Systems, Avionics, Interiors: The global commercial aerospace market was valued at approximately USD 986.25 billion in 2024. The North American commercial aerospace market alone was valued at USD 415.0 billion in 2024.
- Military Aerospace Systems: The global military aircraft & aerospace manufacturing industry is estimated to be USD 280.9 billion in 2025.
- Space Systems: As a supplier for international space programs, Collins Aerospace addresses a portion of the global space technology market, which stood at USD 290.45 billion in 2025 and is projected to reach USD 392.73 billion by 2030.
Pratt & Whitney
Pratt & Whitney specializes in the design, manufacture, and service of aircraft engines for commercial, military, business jet, and general aviation customers, along with auxiliary power units.
- Commercial Aircraft Engines: The global commercial aviation market was valued at USD 450 billion in 2024 and is projected to advance to USD 605 billion by 2035.
- Military Aircraft Engines: The global military aircraft & aerospace manufacturing industry, for which Pratt & Whitney supplies engines, is estimated at USD 280.9 billion in 2025.
Raytheon
Raytheon focuses on advanced defense systems, including missile systems, air defense systems, precision weapons, radars, advanced sensors, cyber solutions, intelligence systems, and space technologies.
- Missile Systems, Air Defense Systems, Precision Weapons: The global missile market was estimated at USD 55.70 billion in 2023 and is projected to reach USD 93.56 billion by 2030. Specifically, the global missile defense system market was valued at USD 27.81 billion in 2024 and is projected to reach USD 33.60 billion in 2030. The U.S. rocket and missile market was valued at USD 16.25 billion in 2023.
- Defense Systems (General, including radars, sensors): The global military aircraft & aerospace manufacturing industry, encompassing many of Raytheon's defense products, is estimated at USD 280.9 billion in 2025.
- Intelligence Systems, Space Technologies: The global space technology market stood at USD 290.45 billion in 2025 and is on course to reach USD 392.73 billion by 2030. The global space intelligence services market was valued at USD 8.6 billion in 2024 and is projected to reach USD 28.7 billion by 2033.
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Here are 3-5 expected drivers of future revenue growth for RTX over the next 2-3 years:
- Robust Defense Backlog and Increased Global Defense Spending: RTX is benefiting from a record backlog, with strong global demand for integrated air and missile defense capabilities and advanced technology programs. Geopolitical tensions are driving increased government defense spending, providing a consistent and growing revenue stream for RTX's Raytheon segment. For instance, Raytheon booked a record $16.6 billion in awards in Q3 2024, with 45% for international customers, driven by demand for products like Patriot and SM-3.
- Strong Commercial Aerospace Aftermarket Growth: The rebound in global air travel is fueling significant growth in commercial aftermarket sales across Collins Aerospace and Pratt & Whitney segments. Collins Aerospace saw a 9% increase in commercial aftermarket sales in Q3 2024, while Pratt & Whitney's commercial aftermarket sales surged by 19%. RTX expects commercial aftermarket sales to grow in the low teens.
- New Product Development and Technological Advancements: Continuous innovation and the launch of new products and upgraded systems are expected to drive future revenue. Examples include increased production of the 360-degree sensor suite for the F-35 (EO DAS) and development contracts for the F-135 engine core upgrade. The company is also investing in advanced manufacturing technologies and automation to expand capacity and improve throughput.
- Resolution of Pratt & Whitney GTF Engine Issues: Addressing the "powder metal matter" at Pratt & Whitney, which previously impacted sales and net income, is crucial for unlocking future growth in this segment. RTX has reached support agreements with a significant portion of affected customers and is implementing core practices to optimize inspection and assembly, which is expected to return the Pratt & Whitney business to profitability and robust growth.
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Share Repurchases
- RTX authorized a $5 billion share repurchase program in December 2020, which was subsequently replaced by a $6 billion authorization in December 2021, and another $6 billion authorization in December 2022.
- In October 2023, the company announced a $10 billion accelerated share repurchase program.
- From 2020 through the third quarter of 2022, RTX repurchased $6.8 billion of shares, and returned $3.7 billion of capital to shareholders in full year 2024.
Share Issuance
- Raytheon Technologies (now RTX) was formed in April 2020 through a merger.
- Since the merger, the diluted share count has decreased by 12% as of early 2024, attributed to share buybacks.
- Shares outstanding declined from 1.486 billion in 2022 to 1.344 billion in 2024, though they saw a slight 0.91% increase year-over-year to 1.358 billion for the quarter ending September 30, 2025.
Outbound Investments
- In November 2020, RTX acquired Blue Canyon Technologies for $432 million.
- During 2021, investments in businesses totaled $1.1 billion, primarily for the acquisitions of FlightAware and SEAKR Engineering Inc.
- In July 2022, RTX acquired NORSS, a provider of space services.
Capital Expenditures
- Capital expenditures were $2.1 billion in 2021, $2.3 billion in 2022, and $2.4 billion in 2023.
- For 2024, capital expenditures were approximately $2.7 billion, and are expected to be around $2.622 billion in 2025.
- The primary focus of these expenditures includes investments in production facilities for Pratt & Whitney and Raytheon, operational capacity in strategic global locations for Collins Aerospace, and over $500 million towards critical defense programs such as expanding the Redstone Raytheon Missile Integration Facility.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| RTX Stock Capital Return Hits $56 Bil | 02/03/2026 | |
| Why RTX Stock Jumped 60%? | 01/28/2026 | |
| RTX Stock Surged 70%, Here's Why | 01/10/2026 | |
| The Next Big Rally in RTX Stock Could Start Like This | 01/08/2026 | |
| RTX Earnings Notes | 12/28/2026 | |
| How RTX Stock Gained 60% | 12/24/2025 | |
| Day 6 of Gains Streak for RTX Stock with 14% Return (vs. 57% YTD) [10/23/2025] | 10/24/2025 | |
| Day 5 of Gains Streak for RTX Stock with 13% Return (vs. 56% YTD) [10/22/2025] | 10/23/2025 | |
| ARTICLES | ||
| RTX Stock Pays Out $56 Bil – Investors Take Note | 02/03/2026 | |
| RTX Stock Surged 60%, Here’s Why | 01/28/2026 | |
| Better Value & Growth: RTX, GD Lead Huntington Ingalls Industries Stock | 01/15/2026 | |
| What Could Spark the Next Big Move In RTX Stock | 01/08/2026 | |
| Large Cap Stocks Trading At 52-Week High | 01/06/2026 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 337.58 |
| Mkt Cap | 165.9 |
| Rev LTM | 63,799 |
| Op Inc LTM | 6,544 |
| FCF LTM | 5,434 |
| FCF 3Y Avg | 4,372 |
| CFO LTM | 6,828 |
| CFO 3Y Avg | 5,396 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.9% |
| Rev Chg 3Y Avg | 10.0% |
| Rev Chg Q | 10.8% |
| QoQ Delta Rev Chg LTM | 2.8% |
| Op Mgn LTM | 10.3% |
| Op Mgn 3Y Avg | 9.6% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 11.4% |
| CFO/Rev 3Y Avg | 10.7% |
| FCF/Rev LTM | 8.1% |
| FCF/Rev 3Y Avg | 7.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 165.9 |
| P/S | 2.2 |
| P/EBIT | 22.7 |
| P/E | 33.6 |
| P/CFO | 22.7 |
| Total Yield | 4.4% |
| Dividend Yield | 1.0% |
| FCF Yield 3Y Avg | 3.4% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.5% |
| 3M Rtn | 15.3% |
| 6M Rtn | 17.1% |
| 12M Rtn | 45.8% |
| 3Y Rtn | 59.5% |
| 1M Excs Rtn | 3.8% |
| 3M Excs Rtn | 12.7% |
| 6M Excs Rtn | 8.2% |
| 12M Excs Rtn | 32.1% |
| 3Y Excs Rtn | -3.6% |
Comparison Analyses
Segment Financials
Assets by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Collins Aerospace | 72,372 | 72,085 | 70,404 | 67,564 | 68,701 |
| Raytheon | 44,936 | 44,929 | 45,666 | ||
| Pratt & Whitney | 44,307 | 40,723 | 36,205 | 33,414 | 32,780 |
| Corporate, eliminations and other | 1,246 | 4,132 | 6,589 | 10,115 | 9,762 |
| Raytheon Intelligence & Space | 21,545 | 21,573 | |||
| Raytheon Missiles & Defense | 28,766 | 29,337 | |||
| Total | 162,861 | 161,869 | 158,864 | 161,404 | 162,153 |
Price Behavior
| Market Price | $195.19 | |
| Market Cap ($ Bil) | 262.2 | |
| First Trading Date | 01/02/1970 | |
| Distance from 52W High | -4.1% | |
| 50 Days | 200 Days | |
| DMA Price | $187.52 | $161.58 |
| DMA Trend | up | up |
| Distance from DMA | 4.1% | 20.8% |
| 3M | 1YR | |
| Volatility | 22.8% | 27.4% |
| Downside Capture | 72.43 | 33.69 |
| Upside Capture | 117.84 | 73.13 |
| Correlation (SPY) | 41.3% | 40.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.01 | 1.02 | 0.80 | 0.66 | 0.56 | 0.49 |
| Up Beta | -1.06 | -0.30 | 0.22 | 0.33 | 0.45 | 0.44 |
| Down Beta | 1.41 | 1.13 | 0.97 | 1.14 | 0.80 | 0.66 |
| Up Capture | 204% | 222% | 126% | 81% | 63% | 23% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 14 | 27 | 36 | 72 | 145 | 399 |
| Down Capture | 30% | 31% | 58% | 26% | 39% | 55% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 6 | 14 | 25 | 53 | 104 | 346 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RTX | |
|---|---|---|---|---|
| RTX | 55.7% | 27.3% | 1.60 | - |
| Sector ETF (XLI) | 28.1% | 19.2% | 1.16 | 53.0% |
| Equity (SPY) | 16.3% | 19.3% | 0.65 | 40.2% |
| Gold (GLD) | 76.7% | 25.0% | 2.25 | 2.5% |
| Commodities (DBC) | 9.4% | 16.6% | 0.37 | 24.8% |
| Real Estate (VNQ) | 6.5% | 16.6% | 0.21 | 32.1% |
| Bitcoin (BTCUSD) | -27.3% | 44.7% | -0.58 | 12.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RTX | |
|---|---|---|---|---|
| RTX | 25.4% | 23.6% | 0.93 | - |
| Sector ETF (XLI) | 16.4% | 17.2% | 0.77 | 58.8% |
| Equity (SPY) | 14.1% | 17.0% | 0.66 | 44.3% |
| Gold (GLD) | 22.1% | 16.9% | 1.06 | 7.5% |
| Commodities (DBC) | 11.3% | 18.9% | 0.48 | 21.7% |
| Real Estate (VNQ) | 5.3% | 18.8% | 0.19 | 38.4% |
| Bitcoin (BTCUSD) | 13.4% | 57.9% | 0.45 | 16.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RTX | |
|---|---|---|---|---|
| RTX | 17.3% | 27.4% | 0.62 | - |
| Sector ETF (XLI) | 15.5% | 19.8% | 0.69 | 73.8% |
| Equity (SPY) | 15.7% | 17.9% | 0.75 | 59.7% |
| Gold (GLD) | 15.7% | 15.5% | 0.84 | 1.5% |
| Commodities (DBC) | 8.4% | 17.6% | 0.39 | 27.0% |
| Real Estate (VNQ) | 6.2% | 20.7% | 0.27 | 53.5% |
| Bitcoin (BTCUSD) | 68.8% | 66.7% | 1.08 | 11.5% |
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Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/27/2026 | 3.7% | ||
| 10/21/2025 | 7.7% | 11.5% | 8.7% |
| 7/22/2025 | -1.6% | 3.0% | 1.8% |
| 4/22/2025 | -9.8% | -1.0% | 8.8% |
| 1/28/2025 | 2.6% | 3.9% | 2.3% |
| 10/22/2024 | -0.3% | -0.4% | -5.0% |
| 7/25/2024 | 8.2% | 12.1% | 13.2% |
| 4/23/2024 | -0.2% | 0.9% | 4.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 16 |
| # Negative | 13 | 11 | 8 |
| Median Positive | 3.0% | 3.9% | 7.4% |
| Median Negative | -1.6% | -3.0% | -5.4% |
| Max Positive | 8.2% | 12.1% | 25.5% |
| Max Negative | -10.2% | -9.4% | -11.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/06/2026 | 10-K |
| 09/30/2025 | 10/21/2025 | 10-Q |
| 06/30/2025 | 07/22/2025 | 10-Q |
| 03/31/2025 | 04/22/2025 | 10-Q |
| 12/31/2024 | 02/03/2025 | 10-K |
| 09/30/2024 | 10/22/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/23/2024 | 10-Q |
| 12/31/2023 | 02/05/2024 | 10-K |
| 09/30/2023 | 10/24/2023 | 10-Q |
| 06/30/2023 | 07/25/2023 | 10-Q |
| 03/31/2023 | 04/25/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-K |
| 09/30/2022 | 10/25/2022 | 10-Q |
| 06/30/2022 | 07/26/2022 | 10-Q |
| 03/31/2022 | 04/26/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Calio, Christopher T | Chairman, President and CEO | Direct | Sell | 10292025 | 178.32 | 4,813 | 858,278 | 14,534,914 | Form |
| 2 | Mitchill, Neil G Jr | EVP, Chief Financial Officer | Direct | Sell | 10282025 | 180.15 | 4,849 | 873,528 | 10,728,775 | Form |
| 3 | Atkinson, Tracy A | Direct | Sell | 10282025 | 178.91 | 2,800 | 500,948 | 729,953 | Form | |
| 4 | Eddy, Shane G | President, P&W | Direct | Sell | 8282025 | 159.79 | 25,968 | Form | ||
| 5 | Brunk, Troy D | President, Collins Aerospace | Direct | Sell | 8132025 | 155.20 | 7,654 | 1,187,908 | 2,551,765 | Form |
RTX Trade Sentinel
Core Investment Debate
Backlog Execution vs. 'Legacy Anchor' Cash Drag
BULL VIEW
The massive backlog and 1.56 book-to-bill ratio signal accelerating growth and pricing power that will overwhelm any specific program's costs.
CORE TENSION
Can RTX convert its record $268B backlog into free cash flow faster than legacy issues, like the GTF engine costs, consume that cash?
PREVAILING SENTIMENT
The record $268B backlog, up 23% YoY, and a book-to-bill ratio of 1.56x for FY2025 demonstrate that new, profitable business is significantly outpacing current challenges.
BEAR VIEW
The ongoing ~$700M annual cash outflow for GTF compensation and slowing growth at Collins Aerospace signal significant execution risk and potential margin pressure.
| Timeline | Event & Metric To Watch |
|---|---|
Late April 2026 | Q1 2026 Earnings Call Watch: Guidance on GTF powdered metal cash outflows for 2026. Current estimate is ~$700M. |
Ongoing (Quarterly Earnings) | Aerospace Supply Chain Status Updates Watch: Commentary on parts shortages (castings, forgings) impacting Pratt & Whitney or Collins delivery schedules. |
This Quarter | Major Airline Earnings Reports (e.g., Delta, United) Watch: Airlines' 2026 and 2027 Capital Expenditure (CapEx) guidance and passenger growth forecasts. |
July 20-24, 2026 | Farnborough International Airshow Watch: Value of firm orders and memoranda of understanding for Pratt & Whitney engines vs. competitor GE. |
| Date | Event | Stock Impact |
|---|---|---|
2026-01-27 | Q4 2025 Earnings & FY2026 Outlook Details: RTX reported a beat on revenue and EPS, a record $268B backlog, and provided a robust 2026 outlook. | Rose significantly by 3.68% |
2025-12-23 | Major Contract Win Details: Raytheon awarded a $1.7 billion contract to supply Spain with four Patriot air and missile defense systems, the country's largest-ever Patriot order. | Flat (0.04%) |
2025-10-21 | Q3 2025 Earnings Details: RTX reported strong Q3 results, beating estimates with sales up 12% YoY, and raised its full-year 2025 outlook for sales and EPS. | Surged +7.67% |
2025-09-10 | Morgan Stanley Laguna Conference Details: RTX leadership presented at an investor conference, likely reaffirming strategy and outlook which was positively received by the market. | Modest 1.71% gain |
2025-08-26 | Jefferies Industrials Conference Details: Company executives presented, providing an update on business conditions and strategy which supported positive stock performance. | Rose significantly by 2.11% |
2025-08-01 | Cluster Insider Selling Disclosed Details: Data indicates coordinated open market sales by top executives including the CEO, CFO, and heads of all three business segments over the prior months. | Muted (-0.48%) |
Position Sizing
4% - 6%
NORMAL
Volatility is moderate and compressing. Although the fundamental sentiment is Bullish with high visibility, the stock's expensive valuation prevents a more aggressive sizing. This fits the 'Growth at a Price' scenario.
Diversification Alternatives
GD
INDUSTRYGD offers pure-play defense exposure with less complexity from commercial aerospace cycles and avoids the specific GTF engine issue affecting RTX's cash flow.
TDG
INDUSTRYTransDigm possesses a higher-margin, more resilient business model focused on proprietary, sole-source aftermarket parts, offering superior pricing power and cash conversion compared to RTX.
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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