TSX runs higher on rate cut expectations
The slight adjustment in the price target reflects Jefferies' analysis of RTX Corp.'s strategic moves and market position. The Hold rating indicates that the firm advises investors to maintain their current position in the stock without increasing or decreasing their holdings at this time. RTX has maintained dividend payments for 54 consecutive years, with a current yield of 2.16%.
For deeper insights into RTX's valuation and growth prospects, including 12 additional ProTips and comprehensive financial analysis, visit InvestingPro. RTX has maintained dividend payments for 54 consecutive years, with a current yield of 2.16%. For deeper insights into RTX's valuation and growth prospects, including 12 additional ProTips and comprehensive financial analysis, visit InvestingPro.
The slight adjustment in the price target reflects Jefferies' analysis of RTX Corp.'s strategic moves and market position. The Hold rating indicates that the firm advises investors to maintain their current position in the stock without increasing or decreasing their holdings at this time. RTX has maintained dividend payments for 54 consecutive years, with a current yield of 2.16%. For deeper insights into RTX's valuation and growth prospects, including 12 additional ProTips and comprehensive financial analysis, visit InvestingPro.
Another significant point from the discussion was the planned divestiture of the SAF Flight Control division, which is anticipated to be finalized by mid-2025. The performance of the company's six Strategic Business Units (SBUs) remains a constant area of focus as RTX Corp. continues to refine its operations and strategic direction.
Furthermore, the Geared Turbofan (GTF) engine is slated to enter service in 2025. Looking ahead, the company's next significant investment is expected to be in developing a hybrid architecture, though details on the timing and specifics of this initiative were not disclosed.
The slight adjustment in the price target reflects Jefferies' analysis of RTX Corp.'s strategic moves and market position. The Hold rating indicates that the firm advises investors to maintain their current position in the stock without increasing or decreasing their holdings at this time.
In other recent news, Raytheon Technologies (NYSE:RTX) Corp, a prominent player in the Aerospace & Defense industry, has made significant strides in recent developments. The company reported strong third-quarter earnings with an adjusted earnings per share (EPS) of $1.45 and an organic revenue increase of 8%. This led to an upward revision of its 2024 adjusted EPS guidance to a range of $5.50 to $5.58.
Raytheon (NYSE:RTN) has also been successful in securing notable contracts. Notably, the company's Pratt and Whitney Military Engines secured a $1.3 billion contract to support the F-35 Lightning II aircraft's propulsion systems. Additionally, Raytheon bagged an $80 million contract to prototype an advanced electronic warfare system for the U.S. Navy's F/A-18 E/F Super Hornet, and a contract from the U.S. Army to enhance battlefield operations with directed energy wireless power beaming capabilities.
On the analyst front, BofA Securities raised its price target for RTX Corp to $145 while maintaining a Buy rating. Deutsche Bank (ETR:DBKGn) also adjusted its price target for RTX Corp, raising it to $131.00 from the previous $129.00, while maintaining a Hold rating. Jefferies, on the other hand, maintained a Hold rating on RTX Corp.
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