EUR/USD likely to find a peak near 1.25: UBS
Mitchill Neil G. Jr, the Executive Vice President and Chief Financial Officer of RTX Corp (NYSE:RTX), recently executed a significant stock sale. On February 27, Neil sold 16,118 shares of common stock at a weighted average price of approximately $130.35 per share, totaling $2,100,932. The transaction comes as RTX, a prominent player in the Aerospace & Defense industry with a market capitalization of $178 billion, trades near its 52-week high of $135.36, having delivered an impressive 52% return over the past year. Following this transaction, Neil retains direct ownership of 59,556 shares, with an additional 1,312 shares held indirectly through a savings plan trustee. The sales were conducted at prices ranging from $130.26 to $130.51 per share. According to InvestingPro analysis, RTX currently appears fairly valued, while maintaining a strong dividend track record with 55 consecutive years of payments and a current yield of 1.9%. For deeper insights into RTX’s valuation and 12+ additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, RTX Corp. has been in the spotlight with several significant developments. Pratt & Whitney, a division of RTX, secured a $1.5 billion contract with the U.S. Air Force to support the F119 engines for the F-22 Raptor fighter jets. This contract aims to enhance readiness and reduce maintenance costs over the next three years. Collins Aerospace, another unit of RTX, has won a contract to supply 144 ACES II® ejection seats for the U.S. Air Force’s F-15EX aircraft, continuing its collaboration with Boeing (NYSE:BA) Defense.
Additionally, UBS analyst Gavin Parsons (NYSE:PSN) upgraded RTX Corp.’s stock rating from Neutral to Buy, raising the price target to $147. Parsons cited the company’s strong positioning in commercial and defense sectors as key factors. Furthermore, Raytheon (NYSE:RTN), part of RTX, completed 10 successful subsystem demonstrations for the U.S. Army’s Next-Generation Short-Range Interceptor program, which aims to replace the Stinger® missile system.
However, the defense sector faces challenges as reports of planned Pentagon budget cuts have emerged, potentially impacting future revenue streams for companies like RTX. Despite these concerns, RTX’s diverse portfolio and recent contracts may help mitigate some of the immediate effects. These developments highlight RTX’s ongoing engagement in significant defense and aerospace projects.
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