S&P 500 gains to extend record run, set for positive week
RTX Corp stock has reached an all-time high, hitting 152.86 USD, marking a significant milestone for the $204 billion aerospace and defense giant. According to InvestingPro analysis, the stock is currently trading at Fair Value, with technical indicators suggesting overbought conditions. Over the past year, RTX has seen a substantial increase in its stock value, delivering a 50.45% return and maintaining dividend payments for 55 consecutive years. This impressive growth reflects the company’s strong performance and investor confidence. The new all-time high demonstrates RTX’s robust market position and potential for continued success. Investors and analysts will be closely watching to see if this upward trend continues in the coming months. InvestingPro subscribers can access 13 additional key insights about RTX’s valuation and growth prospects through the comprehensive Pro Research Report.
In other recent news, Raytheon (NYSE:RTN), an RTX business, has secured a $74 million contract to produce RAM Guided Missile Launching Systems for the U.S. Navy. This contract, the largest single order of U.S. RAM launchers in over two decades, will involve new launcher production, system refurbishments, and hardware support. Additionally, Raytheon has been awarded a $77 million contract by the U.S. Department of Defense for the production and sustainment of Miniaturized Airborne Global Positioning System Receivers, with work expected to be completed by 2031. In another development, Raytheon received a $49.8 million contract modification to produce Standard Missile-6 systems for the U.S. Navy, scheduled for completion by 2029. Meanwhile, Bernstein SocGen Group has raised its price target for RTX Corp. to $154, maintaining a Market Perform rating. Bernstein highlighted RTX’s defense segment as benefiting from governmental budget proposals and increased demand in missile defense. The firm also noted challenges in the Pratt & Whitney division but expressed optimism for improvement in the Collins Aerospace segment. These developments reflect RTX’s ongoing engagements and strategic adjustments in the defense sector.
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