Tearsheet

RTX (RTX)

Market Price (4/14/2026): $201.1 | Market Cap: $270.5 Bil
Sector: Industrials | Industry: Aerospace & Defense

RTX (RTX)

Market Price (4/14/2026): $201.1
Market Cap: $270.5 Bil
Sector: Industrials
Industry: Aerospace & Defense

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 11 Bil, FCF LTM is 7.4 Bil

Stock buyback support
Stock Buyback 3Y Total is 13 Bil

Low stock price volatility
Vol 12M is 25%

Megatrend and thematic drivers
Megatrends include Advanced Aviation & Space, Cybersecurity, and Advanced Materials. Themes include Commercial Space Exploration, Show more.

Key risks
RTX key risks include [1] the significant multi-billion dollar financial and operational disruption caused by the Pratt & Whitney GTF engine's powdered metal defect.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 11 Bil, FCF LTM is 7.4 Bil
1	Stock buyback support Stock Buyback 3Y Total is 13 Bil
2	Low stock price volatility Vol 12M is 25%
3	Megatrend and thematic drivers Megatrends include Advanced Aviation & Space, Cybersecurity, and Advanced Materials. Themes include Commercial Space Exploration, Show more.
4	Key risks RTX key risks include [1] the significant multi-billion dollar financial and operational disruption caused by the Pratt & Whitney GTF engine's powdered metal defect.

Valuation, Metrics & Events

	4/14/26	2025	2024	2023	2022
Share Price CYE	$201.10	$132.46	$97.53	$97.93	$99.07
Market Cap CYE ($ Bil)	270.5	177.1	129.7	143.2	147.3
Total Debt ($ Bil)	39.5	42.9	44.3	36.1	33.1
Total Cash ($ Bil)	7.4	5.2	5.6	5.9	6.0
Enterprise Value ($ Bil)	302.6	220.0	174.0	179.3	180.4
Valuation Ratios
P/S TTM	3.1	2.2	1.8	2.1	2.3
P/EBIT TTM	25.6	21.2	23.1	18.0	22.7
P/E TTM	40.2	38.5	37.3	25.9	35.1
P/FCF TTM	36.3	36.2	21.7	49.4	34.4
Sector Ratios
P/S TTM (Sector)	1.7	1.4	1.6	1.3	1.6
P/EBIT TTM (Sector)	11.7	9.7	11.8	9.3	10.5
P/E TTM (Sector)	15.7	14.0	16.2	13.1	14.0
P/FCF TTM (Sector)	12.1	11.3	13.6	7.8	10.4

	4/14/26	2025	2024
Share Price CYE	$201.10	$132.46	$97.53
Market Cap CYE ($ Bil)	270.5	177.1	129.7
Total Debt ($ Bil)	39.5	42.9	44.3
Total Cash ($ Bil)	7.4	5.2	5.6
Enterprise Value ($ Bil)	302.6	220.0	174.0
Valuation Ratios
P/S TTM	3.1	2.2	1.8
P/EBIT TTM	25.6	21.2	23.1
P/E TTM	40.2	38.5	37.3
P/FCF TTM	36.3	36.2	21.7
Sector Ratios
P/S TTM (Sector)	1.7	1.4	1.6
P/EBIT TTM (Sector)	11.7	9.7	11.8
P/E TTM (Sector)	15.7	14.0	16.2
P/FCF TTM (Sector)	12.1	11.3	13.6

	RTX	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	88.6
Rev Chg Q	12.1%	7.5%
Rev Chg LTM	9.7%	6.8%
Rev Chg 3Y Avg	9.9%	5.7%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	9.3
CFO LTM ($ Bil)	10.6
Net Inc LTM ($ Bil)	6.7
Op Mgn LTM	10.5%	18.6%
CFO/Rev LTM	11.9%	20.6%
Net Inc Mgn	7.6%	12.8%
VALUATION	HIGH
P/S	3.1	3.2
P/CFO	25.6	15.4
P/FCF	36.3	19.8
P/E	40.2	24.1
STABILITY	GOOD
Debt/Equity	0.15	0.21
Cash/Assets	0.04	0.07

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Metric	Value	Date	Source
Total Backlog	251,000,000,000	10222025	Link
Defense Backlog	103,000,000,000	10222025	Link
Book-to-Bill Ratio	1.34	4232024	Link
Commercial Aerospace Backlog	125,000,000,000	4232024	Link
Number of Employees	186000	5022024	Link
Pratt & Whitney Engines in Service	90000	5022024	Link
Collins Aerospace Installed Base Value	170,000,000,000	5022024	Link

Upcoming
4/21/2026	Earnings Release	Rev: $21 Bil (E) EPS: $1.52 (E)
7/20/2026	Earnings Release	Rev: $22 Bil (E) EPS: $1.65 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

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RTX (RTX) stock has gained about 10% since 12/31/2025 because of the following key factors:

1. RTX exceeded Q4 2025 earnings expectations and provided a strong 2026 outlook.

The company reported adjusted earnings per share (EPS) of $1.55 on January 27, 2026, surpassing analyst consensus estimates by $0.08, or 5.9%. Quarterly revenue reached $24.2 billion, exceeding analyst estimates by 6.6% to 7.8%. Furthermore, RTX projected adjusted sales between $92.0 and $93.0 billion for 2026, representing 5% to 6% organic growth, and an adjusted EPS of $6.60 to $6.80. This strong financial performance and confident forward guidance acted as a significant catalyst, with the stock rising approximately 4.1% in pre-market trading following the announcement.

2. The company secured substantial new contracts and maintained a record backlog.

RTX ended 2025 with a record company backlog of $268 billion, showcasing strong demand and future revenue visibility. Key contract awards in early 2026 included a $3.8 billion modification (part of a larger $6.6 billion award) for Pratt & Whitney's F135 engine production, enhancing near-term revenue visibility. Additionally, RTX secured an $8.41 billion contract enhancement for engineering and support of Standard Missile-3 Block missile variants, significantly increasing the total contract ceiling from $3.33 billion to $11.74 billion.

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Stock Movement Drivers

Fundamental Drivers

The 10.2% change in RTX stock from 12/31/2025 to 4/13/2026 was primarily driven by a 8.0% change in the company's P/E Multiple.

(LTM values as of)	12312025	4132026	Change
Stock Price ($)	182.79	201.41	10.2%
Change Contribution By:
Total Revenues ($ Mil)	85,988	88,603	3.0%
Net Income Margin (%)	7.7%	7.6%	-0.9%
P/E Multiple	37.2	40.2	8.0%
Shares Outstanding (Mil)	1,343	1,345	-0.1%
Cumulative Contribution			10.2%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 4/13/2026

	Return	Correlation
RTX	10.2%
Market (SPY)	-5.4%	16.9%
Sector (XLI)	11.4%	54.9%

Fundamental Drivers

The 21.2% change in RTX stock from 9/30/2025 to 4/13/2026 was primarily driven by a 11.1% change in the company's P/E Multiple.

(LTM values as of)	9302025	4132026	Change
Stock Price ($)	166.12	201.41	21.2%
Change Contribution By:
Total Revenues ($ Mil)	83,599	88,603	6.0%
Net Income Margin (%)	7.4%	7.6%	3.3%
P/E Multiple	36.2	40.2	11.1%
Shares Outstanding (Mil)	1,341	1,345	-0.3%
Cumulative Contribution			21.2%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 4/13/2026

	Return	Correlation
RTX	21.2%
Market (SPY)	-2.9%	24.9%
Sector (XLI)	12.4%	52.4%

Fundamental Drivers

The 54.6% change in RTX stock from 3/31/2025 to 4/13/2026 was primarily driven by a 28.5% change in the company's Net Income Margin (%).

(LTM values as of)	3312025	4132026	Change
Stock Price ($)	130.26	201.41	54.6%
Change Contribution By:
Total Revenues ($ Mil)	80,738	88,603	9.7%
Net Income Margin (%)	5.9%	7.6%	28.5%
P/E Multiple	36.4	40.2	10.5%
Shares Outstanding (Mil)	1,334	1,345	-0.8%
Cumulative Contribution			54.6%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2025 to 4/13/2026

	Return	Correlation
RTX	54.6%
Market (SPY)	16.3%	37.9%
Sector (XLI)	33.2%	53.0%

Fundamental Drivers

The 119.6% change in RTX stock from 3/31/2023 to 4/13/2026 was primarily driven by a 55.5% change in the company's P/E Multiple.

(LTM values as of)	3312023	4132026	Change
Stock Price ($)	91.73	201.41	119.6%
Change Contribution By:
Total Revenues ($ Mil)	67,074	88,603	32.1%
Net Income Margin (%)	7.7%	7.6%	-1.9%
P/E Multiple	25.9	40.2	55.5%
Shares Outstanding (Mil)	1,466	1,345	9.0%
Cumulative Contribution			119.6%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2023 to 4/13/2026

	Return	Correlation
RTX	119.6%
Market (SPY)	63.3%	29.9%
Sector (XLI)	78.0%	47.6%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
RTX Return	23%	20%	-14%	41%	61%	10%	217%
Peers Return	16%	18%	24%	10%	33%	9%	171%
S&P 500 Return	27%	-19%	24%	23%	16%	-0%	81%
Monthly Win Rates [3]
RTX Win Rate	67%	58%	42%	58%	75%	75%
Peers Win Rate	48%	60%	55%	58%	60%	55%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
RTX Max Drawdown	-8%	-4%	-30%	0%	-1%	0%
Peers Max Drawdown	-6%	-17%	-12%	-14%	-10%	-5%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-7%

[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 4/13/2026 (YTD)

How Low Can It Go

Unique Key	Event	RTX	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-33.7%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	50.9%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	217 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-52.2%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	109.2%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	662 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-28.2%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	39.2%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	126 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-54.2%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	118.5%	131.3%
2008 Global Financial CrisisTime to Breakeven	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.

Preserve Wealth

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Asset Allocation

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About RTX (RTX)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Raytheon Technologies Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations. This segment also designs, produces, and supports cabin interior, communications and aviation systems, oxygen systems, food and beverage preparation, storage and galley systems, and lavatory and wastewater management systems; airborne intelligence, surveillance and reconnaissance systems, test and training range systems, crew escape systems, and simulation and training solutions; information management services; and aftermarket services that include spare parts, overhaul and repair, engineering and technical support, training and fleet management solutions, and information management services. The Pratt & Whitney segment supplies aircraft engines for commercial, military, business jet, and general aviation customers; and produces, sells, and services military and commercial auxiliary power units. The Raytheon Intelligence & Space segment develops and provides integrated space, communication, and sensor systems for missions, training, and cyber and software solutions to intelligence, defense, federal, and commercial customers. The Raytheon Missiles & Defense segment designs, develops, produces, and sustains integrated air and missile defense systems; defensive and combat solutions; land- and sea-based radars; command, control, communications, and intelligence solutions; and naval and undersea sensor solutions for the U.S. and foreign government customers. The company is headquartered in Waltham, Massachusetts.

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A combination of GE Aviation (for engines and aircraft parts) and Lockheed Martin (for defense systems).
The Honeywell of aerospace and defense, supplying a vast array of high-tech components, engines, and systems for commercial and military use.

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Aerospace Systems: Develops and supports various aerospace products including cabin interiors, communication systems, and airborne intelligence, surveillance, and reconnaissance (ISR) systems.
Aircraft Engines: Supplies engines for commercial, military, business jet, and general aviation aircraft.
Auxiliary Power Units (APUs): Produces and services auxiliary power units for military and commercial applications.
Integrated Space, Communication, and Sensor Systems: Provides complex systems for space, communication, and sensor-based missions.
Cyber and Software Solutions: Offers specialized solutions in cybersecurity and software development.
Air and Missile Defense Systems: Designs and sustains integrated systems for defending against air and missile threats.
Defensive and Combat Solutions: Delivers solutions for various defensive and combat operations.
Radar Systems: Manufactures land-based and sea-based radar systems.
Command, Control, Communications, and Intelligence (C3I) Solutions: Provides comprehensive solutions for military command, control, communications, and intelligence.
Naval and Undersea Sensor Solutions: Develops advanced sensor technologies for naval and underwater environments.
Aerospace Aftermarket Services: Offers spare parts, repair, engineering support, and training for aerospace and defense products.

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Raytheon Technologies Corporation (RTX) primarily serves government entities and various commercial companies worldwide. The company does not primarily sell to individuals.

Major Customers:

Government Entities: RTX provides systems and services to commercial, military, and government customers globally. This includes the U.S. government (such as intelligence, defense, and federal agencies) and foreign government customers for integrated space, communication, and sensor systems; integrated air and missile defense systems; defensive and combat solutions; radars; and command, control, communications, and intelligence solutions.
Commercial Companies: This category encompasses a range of commercial enterprises that procure aerospace and defense products and services from RTX. These include:
- Aircraft Manufacturers: Customers who integrate RTX's aerospace products, such as aircraft engines and various cabin interior, communications, and aviation systems, into their aircraft.
- Airlines: Commercial and general aviation customers who purchase aircraft engines, aftermarket services, and various aerospace systems for their fleets.
- Commercial Space Operations & Other Commercial Customers: Companies involved in commercial space operations, as well as other commercial entities requiring integrated space, communication, sensor systems, cyber, and software solutions.

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Howmet Aerospace Inc. (HWM)

TransDigm Group Incorporated (TDG)

L3Harris Technologies, Inc. (LHX)

Parker-Hannifin Corporation (PH)

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Christopher T. Calio
Chairman & Chief Executive Officer

Christopher T. Calio was appointed Chief Executive Officer of RTX in May 2024 and became Chairman in April 2025. He joined the former United Technologies Corporation (UTC) in 2005 and has over 10 years of leadership experience within the company's aerospace businesses. Prior to his current role, Calio served as President of Pratt & Whitney, and before that, President of Pratt & Whitney's Commercial Engines business from January 2017 through 2019. He was also the chief of staff for the Chairman and CEO of United Technologies. Notably, Calio led Pratt & Whitney's Commercial Engines Legal Department during the development and launch of the Airbus A320neo program and played a key role in the acquisition of Rolls-Royce's share in the International Aero Engines collaboration. He also served as Vice President and General Counsel for UTC Aerospace Systems, now known as Collins Aerospace. He holds a bachelor's degree in political science from Trinity College, and both an MBA and law degree from the University of Connecticut.

Neil G. Mitchill, Jr.
Chief Financial Officer

Neil G. Mitchill, Jr. serves as the Chief Financial Officer of RTX, a position he was appointed to in April 2021. His responsibilities include financial reporting and controls, planning and analysis, investor relations, internal audit, tax, and treasury. Mitchill joined United Technologies Corp. (UTC) in 2014 as Vice President of Global Financial Services. He progressed through various financial leadership roles at UTC, including Corporate Vice President, Controller in 2015, and Vice President and CFO of Pratt & Whitney in 2016. In 2019, he became the acting Senior Vice President and CFO of UTC, a role he held until the merger with Raytheon Company in 2020, after which he was appointed Corporate Vice President, Financial Planning & Analysis and Investor Relations for Raytheon Technologies. Before joining UTC, Mitchill spent 17 years at PricewaterhouseCoopers LLP, where he was a lead partner and provided assurance and business advisory services for global industrial products companies. He is a certified public accountant and holds a bachelor's degree in accountancy from Providence College.

Shane G. Eddy
President, Pratt & Whitney

Shane G. Eddy was appointed President of Pratt & Whitney, an RTX business, on March 1, 2022. With over 35 years of experience in the aerospace industry, he leads a business focused on designing, manufacturing, and servicing aircraft engines and auxiliary power units. Prior to his current role, Eddy was Pratt & Whitney's Senior Vice President and Chief Operations Officer. He joined Pratt & Whitney in 2016 from GE Aviation, where he served as Vice President and General Manager for Turboshaft/Turboprop Engines. Before his time at GE, Eddy spent six years at Sikorsky Aircraft Corporation, holding positions as Senior Vice President, Operations, and later as President, Commercial Systems and Services. His career also includes 14 years at Bell Helicopter Textron, where he held leadership roles such as Executive Director, Commercial Helicopter Programs, and Senior Vice President, Customer Support & Chief Services Officer. Eddy holds an MBA from Concordia University, Quebec, and an undergraduate degree from Canadore College, Ontario.

Vincent M. Campisi
Chief Digital Officer and Senior Vice President of Enterprise Services

Vincent M. Campisi is the Chief Digital Officer and leader of the Enterprise Services division at RTX, directing the company's digital strategy and global business services. He joined RTX (then United Technologies Corporation) in 2016, bringing 25 years of experience in the aerospace and defense, energy, financial services, and technology sectors. Before joining UTC, Campisi held multiple leadership roles at General Electric starting in 1999, including Chief Operating Officer at GE Digital, Chief Information Officer and Quality Leader at GE Vernova, general manager for cloud services, and CIO for GE Software. His work focuses on strengthening cybersecurity, maximizing productivity through information technology, and implementing enhanced software and data analytics practices. He earned a Bachelor's Degree in Business Administration and Management from the University at Albany.

Phil Jasper
President, Raytheon

Phil Jasper was appointed President of Raytheon, an RTX business, on January 4, 2024, and is a member of the RTX senior leadership team. With 31 years of experience in the aerospace and defense industry, he is responsible for leading Raytheon's franchises in missile defense, air-to-air missiles, fire control radars, and electro-optical/infra-red systems. In 2018, Jasper was named president of Collins Aerospace's Mission Systems strategic business unit, where he was responsible for delivering military, government, and civil solutions globally. He has a background in transitioning commercial aerospace technologies to the defense sector, contributing to innovations in battlefield communications and networking solutions, and designing, developing, and integrating mission-specific capabilities for military aircraft.

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Key Risks to RTX Business

Pratt & Whitney GTF Engine Crisis: Raytheon Technologies faces significant financial charges due to the Pratt & Whitney Geared Turbofan (GTF) engine crisis, which includes airline compensation and expedited maintenance. This issue also carries the risk of long-term market share erosion on future narrow-body aircraft projects.
Raytheon Margin Dilution on Fixed-Price Production Increase: The company is experiencing operating margin compression within its Raytheon segments despite revenue growth. This is attributed to lower-margin fixed-price contracts replacing more mature, high-margin programs, leading to potential negative earnings per share revisions. RTX's 10-K filing identifies cost overruns on fixed-price contracts as a primary business risk.
Dependence on Government Contracts and Geopolitical/Regulatory Changes: A substantial portion of RTX's revenue is derived from contracts with the U.S. government and other international governments. This reliance exposes the company to risks associated with shifts in defense spending, budgetary constraints, political factors, and the potential for contract terminations or delays. Furthermore, geopolitical tensions, regulatory changes, trade policies, sanctions, and export controls can significantly impact RTX's global operations and international sales.

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Raytheon Technologies Corporation (RTX) operates across diverse and substantial addressable markets within the aerospace and defense sectors. The estimated market sizes for its primary products and services are outlined below:

Collins Aerospace Systems

Aircraft Cabin Interior Market: The global aircraft cabin interior market was valued at approximately USD 41.10 billion in 2025 and is projected to grow to USD 83.80 billion by 2034.
Aircraft Communication Systems Market: The global aircraft communication system market size was valued at USD 18.50 billion in 2025 and is projected to grow to USD 38.70 billion by 2034.
Aerospace Electronics Market: The global aerospace electronics market size was approximately USD 127.20 billion in 2025 and is predicted to increase to USD 237.33 billion by 2035.

Pratt & Whitney

Aircraft Engine Market: The global aircraft engine market size is expected to be valued at USD 118.53 billion in 2025 and is anticipated to reach around USD 251.79 billion by 2035.
Military Aircraft Engine Market: The global military aircraft engine market size was valued at around USD 34.29 billion in 2025 and is projected to reach USD 67.19 billion by 2032.
Aerospace and Military Auxiliary Power Unit (APU) Market: The global aerospace and military APU market is estimated at approximately USD 4.72 billion in 2025 and is projected to reach about USD 7.02 billion by 2035.

Raytheon Intelligence & Space

Intelligence, Surveillance, and Reconnaissance (ISR) Market: The global Intelligence, Surveillance, and Reconnaissance (ISR) market was valued at approximately USD 42 billion in 2024 and is expected to reach around USD 71.2 billion by 2034.
Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance (C4ISR) Market: The global C4ISR market was valued at USD 126.2 billion in 2024 and is projected to reach USD 216 billion by 2034.
Defense Electronics Market: The global defense electronics market was valued at USD 175.2 billion in 2024 and is projected to reach USD 302.8 billion by 2034.

Raytheon Missiles & Defense

Air Defense System Market: The global air defense system market was valued at USD 46.3 billion in 2024 and is estimated to grow to USD 80.1 billion by 2034.
Missile Defense System Market: The global missile defense system market was valued at USD 31.5 billion in 2024 and is projected to reach USD 54.2 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:

Conversion of Record Backlog and Sustained Demand: RTX boasts a record backlog of $268 billion as of January 2026, which represents nearly three years of future revenue already under contract. The company's focus on operational execution and converting this robust backlog into realized sales is a primary driver of sustained revenue growth.
Growth in Commercial Aerospace Aftermarket: The recovery in global commercial air traffic and increasing flight hours are significantly boosting demand for commercial aerospace aftermarket services, including spare parts, maintenance, repair, and overhaul (MRO). This trend is expected to drive substantial revenue growth for Collins Aerospace and Pratt & Whitney segments, with management anticipating approximately 10% growth in the total commercial aftermarket for 2025.
Increased Global Defense Spending and International Expansion: Escalating geopolitical tensions worldwide are leading to higher defense budgets, particularly in Europe, which is driving strong demand for RTX's advanced defense systems. International customers account for a significant portion of RTX's defense backlog, and continued large-scale contract wins for integrated air and missile defense systems, such as Patriot and LTAMDS, are expected to fuel revenue growth.
Advancements in Product Development and Manufacturing Efficiency: RTX is investing in new capabilities, expanding production capacity, and leveraging digital factory initiatives to enhance productivity and meet growing customer needs. This includes a focus on developing next-generation technologies like hypersonics and increasing the volume of key defense systems and commercial engine deliveries (e.g., GTF and F135 engines), which will contribute to higher sales volumes and a favorable program mix.

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Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

RTX authorized a $6 billion share repurchase program in December 2022, which superseded a prior authorization from December 2021.
In October 2023, the company initiated a $10 billion accelerated share repurchase (ASR) program, as part of its commitment to return $36-$37 billion to shareholders through 2025.
RTX repurchased $12.9 billion of shares in 2023 and $3.7 billion in 2024, contributing to over $33 billion returned to shareholders since the merger.


Outbound Investments

Raytheon (an RTX business) launched RTX Ventures in April 2022, a new investment arm focused on strategic investments in companies developing transformational aerospace and defense technologies, making an initial investment in hypersonic aircraft developer Hermeus.
The company made several acquisitions, including Seakr Engineering in September 2021 for advanced spacecraft electronics and NORSS in July 2022 for space services.
In 2025, RTX invested $85 million across 19 companies through RTX Ventures, and in May 2024, Raytheon invested in UVAD Technologies for a supersonic Uncrewed Aerial Vehicle target.


Capital Expenditures

RTX reported capital expenditures of approximately $2.4 billion in 2023 and $2.6 billion in 2024, with estimated CapEx for 2025 at $2.6 billion and projected CapEx of $3.1 billion for 2026.
Total investments in capital expenditures and company/customer-funded research and development exceeded $10 billion in both 2024 and 2025, with a similar amount projected for 2026.
The primary focus of these expenditures includes expanding production capacity, modernizing infrastructure, and advancing technologies in commercial aerospace and defense, such as missile and sensor production facilities.



	
		
			
				
					
					 Interactive Breakdown
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				 Better Bets vs. RTX (RTX)
				
					By Industry
					By Sector
					All Other Sectors
					Sector Best Bets
				
				
					
				
					
						INDUSTRY: Aerospace & Defense
					
			
					
						
							Higher Rev Chg 3Y Avg | Lower P/S 
							(Values for RTX: 9.9% | 3.1x)
						
						
				
						
							BA (12.3% | 1.9x)
							Boeing
						
					
						
							GD (10.1% | 1.8x)
							General Dynamics
						
					
						
							PSN (16.0% | 0.9x)
							Parsons
						
					
						
							AIR (17.9% | 1.6x)
							AAR
						
					
						
							VVX (16.6% | 0.5x)
							V2X
						
					
					
						
							Higher Rev Chg 3Y Avg | Lower P/Op Inc 
							(Values for RTX: 9.9% | 29.1x)
						
						
				
						
							GD (10.1% | 17.2x)
							General Dynamics
						
					
						
							TDG (17.5% | 16.9x)
							TransDigm
						
					
						
							PSN (16.0% | 14.4x)
							Parsons
						
					
						
							AIR (17.9% | 18.3x)
							AAR
						
					
						
							VVX (16.6% | 11.2x)
							V2X
						
					
					
						
							Higher Rev Chg LTM 
							(Value for RTX: 9.7%)
						
						
				
						
							BA (34.5%)
							Boeing
						
					
						
							GE (18.5%)
							GE Aerospace
						
					
						
							TDG (11.7%)
							TransDigm
						
					
						
							HWM (11.1%)
							Howmet Aerospace
						
					
						
							GD (10.1%)
							General Dynamics
						
					
					
						
							Higher Rev Chg 3Y Avg 
							(Value for RTX: 9.9%)
						
						
				
						
							GE (18.3%)
							GE Aerospace
						
					
						
							TDG (17.5%)
							TransDigm
						
					
						
							HWM (13.4%)
							Howmet Aerospace
						
					
						
							BA (12.3%)
							Boeing
						
					
						
							GD (10.1%)
							General Dynamics
						
					
					
						
							Higher Op Mgn LTM 
							(Value for RTX: 10.5%)
						
						
				
						
							TDG (46.7%)
							TransDigm
						
					
						
							HWM (25.5%)
							Howmet Aerospace
						
					
						
							HEI (22.7%)
							Heico
						
					
						
							GE (18.9%)
							GE Aerospace
						
					
						
							CW (18.2%)
							Curtiss-Wright
						
					
					
						
							Higher CFO/Rev LTM 
							(Value for RTX: 11.9%)
						
						
				
						
							TDG (23.3%)
							TransDigm
						
					
						
							HWM (22.8%)
							Howmet Aerospace
						
					
						
							HEI (19.6%)
							Heico
						
					
						
							GE (18.6%)
							GE Aerospace
						
					
						
							LHX (14.2%)
							L3Harris Technologies
						
					
					
						
							Higher FCF/Rev LTM 
							(Value for RTX: 8.4%)
						
						
				
						
							TDG (20.6%)
							TransDigm
						
					
						
							HWM (17.3%)
							Howmet Aerospace
						
					
						
							GE (15.8%)
							GE Aerospace
						
					
						
							LHX (12.3%)
							L3Harris Technologies
						
					
						
							LMT (9.2%)
							Lockheed Martin
						
					
					
						
							Higher Total Yield 
							(Value for RTX: 3.8%)
						
						
				
						
							TDG (10.2%)
							TransDigm
						
					
						
							GD (6.3%)
							General Dynamics
						
					
						
							TXT (5.7%)
							Textron
						
					
						
							LMT (5.1%)
							Lockheed Martin
						
					
						
							NOC (5.0%)
							Northrop Grumman
						
					
					
				
					
						SECTOR: Industrials
					
			
					
						
							Higher Rev Chg 3Y Avg | Lower P/S 
							(Values for RTX: 9.9% | 3.1x)
						
						
				
						
							BA (12.3% | 1.9x)
							Boeing
						
					
						
							UBER (17.7% | 2.9x)
							Uber Technologies
						
					
						
							GD (10.1% | 1.8x)
							General Dynamics
						
					
						
							EME (15.3% | 2.1x)
							EMCOR
						
					
						
							MTZ (13.8% | 2.0x)
							MasTec
						
					
					
						
							Higher Rev Chg 3Y Avg | Lower P/Op Inc 
							(Values for RTX: 9.9% | 29.1x)
						
						
				
						
							UBER (17.7% | 27.0x)
							Uber Technologies
						
					
						
							TT (10.1% | 26.4x)
							Trane Technologies
						
					
						
							GD (10.1% | 17.2x)
							General Dynamics
						
					
						
							CP (20.7% | 13.0x)
							Canadian Pacific Kansas City
						
					
						
							TDG (17.5% | 16.9x)
							TransDigm
						
					
					
						
							Higher Rev Chg LTM 
							(Value for RTX: 9.7%)
						
						
				
						
							BA (34.5%)
							Boeing
						
					
						
							VRT (27.7%)
							Vertiv
						
					
						
							GE (18.5%)
							GE Aerospace
						
					
						
							UBER (18.3%)
							Uber Technologies
						
					
						
							ETN (10.3%)
							Eaton
						
					
					
						
							Higher Rev Chg 3Y Avg 
							(Value for RTX: 9.9%)
						
						
				
						
							VRT (21.7%)
							Vertiv
						
					
						
							GE (18.3%)
							GE Aerospace
						
					
						
							UBER (17.7%)
							Uber Technologies
						
					
						
							BA (12.3%)
							Boeing
						
					
						
							TT (10.1%)
							Trane Technologies
						
					
					
						
							Higher Op Mgn LTM 
							(Value for RTX: 10.5%)
						
						
				
						
							ETN (19.0%)
							Eaton
						
					
						
							GE (18.9%)
							GE Aerospace
						
					
						
							DE (18.0%)
							Deere
						
					
						
							CAT (16.5%)
							Caterpillar
						
					
						
							UBER (10.7%)
							Uber Technologies
						
					
					
						
							Higher CFO/Rev LTM 
							(Value for RTX: 11.9%)
						
						
				
						
							GE (18.6%)
							GE Aerospace
						
					
						
							CAT (17.4%)
							Caterpillar
						
					
						
							DE (16.8%)
							Deere
						
					
						
							ETN (16.3%)
							Eaton
						
					
						
							GEV (13.1%)
							GE Vernova
						
					
					
						
							Higher FCF/Rev LTM 
							(Value for RTX: 8.4%)
						
						
				
						
							UBER (18.8%)
							Uber Technologies
						
					
						
							GE (15.8%)
							GE Aerospace
						
					
						
							ETN (12.9%)
							Eaton
						
					
						
							CAT (11.0%)
							Caterpillar
						
					
						
							GEV (9.7%)
							GE Vernova
						
					
					
						
							Higher Total Yield 
							(Value for RTX: 3.8%)
						
						
				
						
							UNP (7.0%)
							Union Pacific
						
					
						
							UBER (6.7%)
							Uber Technologies
						
					
						
							HON (5.2%)
							Honeywell International
						
					
						
							LMT (5.1%)
							Lockheed Martin
						
					
						
							DE (4.0%)
							Deere
						
					
					
				
					
						All Other Sectors
					
			
					
						
							Higher Rev Chg 3Y Avg | Lower P/S 
							(Values for RTX: 9.9% | 3.1x)
						
						
				
						
							BRK-B (27.0% | 2.5x)
							Berkshire Hathaway
						
					
						
							UNH (11.4% | 0.6x)
							UnitedHealth
						
					
						
							TD (9.9% | 2.7x)
							Toronto-Dominion Bank
						
					
						
							CB (11.9% | 2.2x)
							Chubb
						
					
						
							COF (16.8% | 2.3x)
							Capital One Financial
						
					
					
						
							Higher Rev Chg 3Y Avg | Lower P/Op Inc 
							(Values for RTX: 9.9% | 29.1x)
						
						
				
						
							MSFT (14.4% | 20.0x)
							Microsoft
						
					
						
							META (19.9% | 19.2x)
							Meta Platforms
						
					
						
							LLY (32.1% | 28.0x)
							Eli Lilly
						
					
						
							V (11.1% | 21.4x)
							Visa
						
					
						
							MU (45.3% | 17.1x)
							Micron Technology
						
					
					
						
							Higher Rev Chg LTM 
							(Value for RTX: 9.7%)
						
						
				
						
							NVDA (65.5%)
							NVIDIA
						
					
						
							MSFT (16.7%)
							Microsoft
						
					
						
							GOOGL (15.1%)
							Alphabet
						
					
						
							AMZN (12.4%)
							Amazon.com
						
					
						
							AAPL (10.1%)
							Apple
						
					
					
						
							Higher Rev Chg 3Y Avg 
							(Value for RTX: 9.9%)
						
						
				
						
							NVDA (101.8%)
							NVIDIA
						
					
						
							AVGO (26.2%)
							Broadcom
						
					
						
							MSFT (14.4%)
							Microsoft
						
					
						
							GOOGL (12.5%)
							Alphabet
						
					
						
							AMZN (11.7%)
							Amazon.com
						
					
					
						
							Higher Op Mgn LTM 
							(Value for RTX: 10.5%)
						
						
				
						
							NVDA (60.4%)
							NVIDIA
						
					
						
							MSFT (46.7%)
							Microsoft
						
					
						
							AAPL (32.4%)
							Apple
						
					
						
							GOOGL (32.0%)
							Alphabet
						
					
						
							AMZN (11.2%)
							Amazon.com
						
					
					
						
							Higher CFO/Rev LTM 
							(Value for RTX: 11.9%)
						
						
				
						
							MSFT (52.5%)
							Microsoft
						
					
						
							NVDA (47.6%)
							NVIDIA
						
					
						
							GOOGL (40.9%)
							Alphabet
						
					
						
							AAPL (31.1%)
							Apple
						
					
						
							AMZN (19.5%)
							Amazon.com
						
					
					
						
							Higher FCF/Rev LTM 
							(Value for RTX: 8.4%)
						
						
				
						
							NVDA (44.8%)
							NVIDIA
						
					
						
							AVGO (42.3%)
							Broadcom
						
					
						
							AAPL (28.3%)
							Apple
						
					
						
							MSFT (25.3%)
							Microsoft
						
					
						
							GOOGL (18.2%)
							Alphabet
						
					
					
						
							Higher Total Yield 
							(Value for RTX: 3.8%)
						
						
				
						
							XOM (7.1%)
							Exxon Mobil
						
					
						
							JPM (6.6%)
							JPMorgan Chase
						
					
						
							BRK-B (6.5%)
							Berkshire Hathaway
						
					
						
							MSFT (5.1%)
							Microsoft
						
					
						
							META (4.1%)
							Meta Platforms
						
					
					
				
					
						Best Bets in Industrials
					
			What You Pay
					
						
							P/EBIT 
							(Value for RTX: 25.6x)
						
						
				
						
							GATX (10.3x)
							GATX
						
					
						
							PAYX (13.3x)
							Paychex
						
					
						
							AGX (61.7x)
							Argan
						
					
						
							TDG (16.9x)
							TransDigm
						
					
						
							PCTY (15.9x)
							Paylocity
						
					
						
							SNA (14.2x)
							Snap-on
						
					
						
							ADP (13.3x)
							Automatic Data Processing
						
					
						
							STRL (32.9x)
							Sterling Infrastructure
						
					
						
							PAYC (10.5x)
							Paycom Software
						
					
						
							WOR (17.8x)
							Worthington Enterprises
						
					
					
						
							P/E 
							(Value for RTX: 40.2x)
						
						
				
						
							GATX (20.7x)
							GATX
						
					
						
							PAYX (19.6x)
							Paychex
						
					
						
							AGX (60.4x)
							Argan
						
					
						
							TDG (35.4x)
							TransDigm
						
					
						
							PCTY (22.6x)
							Paylocity
						
					
						
							SNA (19.4x)
							Snap-on
						
					
						
							ADP (18.6x)
							Automatic Data Processing
						
					
						
							STRL (48.6x)
							Sterling Infrastructure
						
					
						
							PAYC (14.5x)
							Paycom Software
						
					
						
							WOR (24.3x)
							Worthington Enterprises
						
					
What You Get
					
						
							Rev Chg 3Y Avg 
							(Value for RTX: 9.9%)
						
						
				
						
							GATX (11.0%)
							GATX
						
					
						
							PAYX (8.9%)
							Paychex
						
					
						
							AGX (28.8%)
							Argan
						
					
						
							TDG (17.5%)
							TransDigm
						
					
						
							PCTY (19.0%)
							Paylocity
						
					
						
							SNA (2.1%)
							Snap-on
						
					
						
							ADP (7.1%)
							Automatic Data Processing
						
					
						
							STRL (12.1%)
							Sterling Infrastructure
						
					
						
							PAYC (14.4%)
							Paycom Software
						
					
						
							WOR (51.4%)
							Worthington Enterprises
						
					
					
						
							Rev Chg LTM 
							(Value for RTX: 9.7%)
						
						
				
						
							GATX (9.8%)
							GATX
						
					
						
							PAYX (16.4%)
							Paychex
						
					
						
							AGX (8.1%)
							Argan
						
					
						
							TDG (11.7%)
							TransDigm
						
					
						
							PCTY (12.1%)
							Paylocity
						
					
						
							SNA (0.9%)
							Snap-on
						
					
						
							ADP (6.6%)
							Automatic Data Processing
						
					
						
							STRL (17.7%)
							Sterling Infrastructure
						
					
						
							PAYC (8.9%)
							Paycom Software
						
					
						
							WOR (15.0%)
							Worthington Enterprises
						
					
					
						
							Rev Chg Q 
							(Value for RTX: 12.1%)
						
						
				
						
							GATX (8.6%)
							GATX
						
					
						
							PAYX (19.9%)
							Paychex
						
					
						
							AGX (12.7%)
							Argan
						
					
						
							TDG (13.9%)
							TransDigm
						
					
						
							PCTY (10.4%)
							Paylocity
						
					
						
							SNA (3.1%)
							Snap-on
						
					
						
							ADP (6.2%)
							Automatic Data Processing
						
					
						
							STRL (51.5%)
							Sterling Infrastructure
						
					
						
							PAYC (10.2%)
							Paycom Software
						
					
						
							WOR (24.4%)
							Worthington Enterprises
						
					
					
						
							FCF/Rev 3Y Avg 
							(Value for RTX: 6.7%)
						
						
				
						
							GATX (37.4%)
							GATX
						
					
						
							PAYX (33.2%)
							Paychex
						
					
						
							AGX (27.3%)
							Argan
						
					
						
							TDG (22.1%)
							TransDigm
						
					
						
							PCTY (21.7%)
							Paylocity
						
					
						
							SNA (20.8%)
							Snap-on
						
					
						
							ADP (19.7%)
							Automatic Data Processing
						
					
						
							STRL (18.4%)
							Sterling Infrastructure
						
					
						
							PAYC (18.2%)
							Paycom Software
						
					
						
							WOR (18.2%)
							Worthington Enterprises
						
					
			
				[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76
			
		
				
			
		
	

	
		
			
				
				 Latest Trefis Analyses
				 Title Date
0 DASHBOARDS  
1 RTX Stock Hands $35 Bil Back - Worth a Look? 04/14/2026
2 3 Forces That Could Shake RTX Stock 03/07/2026
3 RTX Stock Surged 60%, Here's Why 03/03/2026
4 Why RTX Stock Jumped 60%? 01/28/2026
5 RTX Stock Surged 70%, Here's Why 01/10/2026
6 The Next Big Rally in RTX Stock Could Start Like This 01/08/2026
7 RTX Earnings Notes 12/28/2026
8 How RTX Stock Gained 60% 12/24/2025
9 ARTICLES  
10 RTX Stock Hands $35 Bil Back – Worth a Look? 04/14/2026
11 Better Value & Growth: RTX Leads ATI Stock 03/19/2026
12 The Hidden Dangers Facing RTX Stock 03/07/2026
13 RTX Tops ATI Stock on Price & Potential 03/04/2026
14 S&P 500 Stocks Trading At 52-Week High 02/18/2026
 Title
0 DASHBOARDS
1 RTX Stock Hands $35 Bil Back - Worth a Look?
2 3 Forces That Could Shake RTX Stock
3 RTX Stock Surged 60%, Here's Why
4 Why RTX Stock Jumped 60%?
5 RTX Stock Surged 70%, Here's Why
6 The Next Big Rally in RTX Stock Could Start Like This
7 RTX Earnings Notes
8 How RTX Stock Gained 60%
9 ARTICLES
10 RTX Stock Hands $35 Bil Back – Worth a Look?
11 Better Value & Growth: RTX Leads ATI Stock
12 The Hidden Dangers Facing RTX Stock
13 RTX Tops ATI Stock on Price & Potential
14 S&P 500 Stocks Trading At 52-Week High
			
		
	

	
		
			
				
				 Trade Ideas
Select ideas related to RTX.
Unique Key Date Ticker Company Category Trade Strategy 6M Fwd Rtn 12M Fwd Rtn 12M Max DD
NSP_3312026_Insider_Buying_45D_2Buy_200K 03312026 NSP Insperity Insider Insider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days 0.0% 0.0% 0.0%
TNC_3312026_Insider_Buying_45D_2Buy_200K 03312026 TNC Tennant Insider Insider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days 0.0% 0.0% 0.0%
ADP_3272026_Dip_Buyer_FCFYield 03272026 ADP Automatic Data Processing Dip Buy DB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin 1.0% 1.0% 0.0%
HURN_3272026_Dip_Buyer_FCFYield 03272026 HURN Huron Consulting Dip Buy DB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin 4.0% 4.0% 0.0%
TRU_3272026_Dip_Buyer_FCFYield 03272026 TRU TransUnion Dip Buy DB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin 5.2% 5.2% 0.0%
RTX_6302020_Dip_Buyer_ValueBuy 06302020 RTX RTX Dip Buy DB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin 15.8% 42.2% -14.4%
			
		
	

	
		
			
				
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					1D
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Ticker Company Mkt Cap (B) 1D Rtn YTD Rtn
RVMD Revolution Medicines 26.5 41.3% 71.1%
CAR Avis Budget 13.1 23.7% 189.1%
SYRE Spyre Therapeutics 4.7 23.4% 93.1%
SGML Sigma Lithium 1.9 17.1% 31.8%
QURE uniQure 1.1 16.5% -25.1%
PAR PAR Technology 0.6 16.2% -62.2%
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BTGO BitGo 1.1 14.4% -47.2%
ANRO Alto Neuroscience 0.9 13.0% 44.7%
ORCL Oracle 447.3 12.7% -19.7%
Top Losers
Ticker Company Mkt Cap (B) 1D Rtn YTD Rtn
REPL Replimune 0.2 -64.3% -82.5%
MSEX Middlesex Water 1.0 -7.0% 3.7%
FAST Fastenal 52.6 -6.9% 14.8%
SG Sweetgreen 0.7 -6.8% -15.1%
IOVA Iovance Biotherapeutics 1.4 -6.5% 26.7%
AMRC Ameresco 1.3 -6.0% -15.3%
URGN UroGen Pharma 1.0 -6.0% -13.4%
SAM Boston Beer 2.6 -5.5% 24.6%
NXT Nextpower 16.6 -5.4% 28.1%
BROS Dutch Bros 6.7 -5.4% -13.7%
					Top Gainers
Ticker Company Mkt Cap (B) 1W Rtn YTD Rtn
CAR Avis Budget 13.1 74.5% 189.1%
AXTI AXT 3.0 58.2% 306.4%
LWLG Lightwave Logic 1.5 44.7% 251.5%
RVMD Revolution Medicines 26.5 42.9% 71.1%
AAOI Applied Optoelectronics 10.8 42.6% 339.4%
ALAB Astera Labs 28.3 41.4% 0.3%
OGN Organon 2.2 41.2% 19.4%
HUT Hut 8 7.6 40.7% 51.9%
AEHR Aehr Test Systems 2.2 37.4% 254.9%
CRWV CoreWeave 55.9 36.2% 54.0%
Top Losers
Ticker Company Mkt Cap (B) 1W Rtn YTD Rtn
REPL Replimune 0.2 -80.1% -82.5%
KRUS Kura Sushi USA 0.7 -23.3% 6.4%
FSLY Fastly 3.7 -22.7% 139.4%
SMPL Simply Good Foods 1.1 -21.9% -44.7%
VG Venture Global 31.2 -20.0% 87.2%
OKTA Okta 11.6 -18.7% -24.3%
PLSE Pulse Biosciences 1.3 -17.5% 37.8%
AKAM Akamai Technologies 13.7 -17.2% 8.8%
HUBS HubSpot 10.8 -16.3% -48.8%
GWRE Guidewire Software 10.5 -16.0% -38.2%
					Top Gainers
Ticker Company Mkt Cap (B) 1M Rtn YTD Rtn
XLO Xilio Therapeutics 0.6 1554.6% -5.6%
CAR Avis Budget 13.1 272.6% 189.1%
SATL Satellogic 1.0 151.7% 303.7%
APLS Apellis Pharmaceuticals 5.2 122.1% 62.6%
ORKA Oruka Therapeutics 3.3 91.9% 102.5%
AEHR Aehr Test Systems 2.2 90.3% 254.9%
FBYD Falcons Beyond Global 0.5 85.0% -15.5%
KOD Kodiak Sciences 2.2 76.3% 50.0%
KODK Eastman Kodak 1.2 73.4% 41.3%
HTZ Hertz Global 2.1 69.9% 28.6%
Top Losers
Ticker Company Mkt Cap (B) 1M Rtn YTD Rtn
REPL Replimune 0.2 -77.6% -82.5%
VRDN Viridian Therapeutics 1.4 -47.9% -52.4%
MAZE Maze Therapeutics 1.3 -47.1% -33.8%
WVE WAVE Life Sciences 1.3 -45.6% -57.3%
BUR Burford Capital 1.0 -42.4% -49.7%
FRMI Fermi 3.0 -36.8% -36.0%
TE T1 Energy 0.8 -34.0% -23.5%
BOBS Bobs Discount Furniture 1.5 -32.0% -34.1%
ADMA ADMA Biologics 2.5 -30.8% -43.1%
CSIQ Canadian Solar 0.9 -29.5% -46.5%
				
			
		
	

	
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				 Peer Comparisons
Peers to compare with: 
				
				Financials
 RTX LMT NOC BA GD GE Median
Name RTX      Lockheed. Northrop. Boeing   General . GE Aeros.  
Mkt Price 201.41 619.69 681.31 222.14 340.76 311.90 326.33
Mkt Cap 270.9 143.1 97.2 170.7 92.0 328.1 156.9
Rev LTM 88,603 75,048 41,954 89,463 52,550 45,854 63,799
Op Inc LTM 9,300 7,731 4,280 -5,416 5,356 8,680 6,544
FCF LTM 7,448 6,908 3,307 -1,886 3,959 7,264 5,434
FCF 3Y Avg 5,363 6,141 2,676 -3,950 3,654 5,090 4,372
CFO LTM 10,567 8,557 4,757 1,065 5,120 8,537 6,828
CFO 3Y Avg 8,536 7,816 4,340 -1,685 4,647 6,145 5,396
				Growth & Margins
 RTX LMT NOC BA GD GE Median
Name RTX      Lockheed. Northrop. Boeing   General . GE Aeros.  
Rev Chg LTM 9.7% 5.6% 2.2% 34.5% 10.1% 18.5% 9.9%
Rev Chg 3Y Avg 9.9% 4.4% 4.7% 12.3% 10.1% 18.3% 10.0%
Rev Chg Q 12.1% 9.1% 9.6% 57.1% 7.8% 17.6% 10.8%
QoQ Delta Rev Chg LTM 3.0% 2.3% 2.5% 10.8% 2.0% 4.3% 2.8%
Op Mgn LTM 10.5% 10.3% 10.2% -6.1% 10.2% 18.9% 10.3%
Op Mgn 3Y Avg 7.9% 10.9% 9.1% -7.8% 10.1% 15.5% 9.6%
QoQ Delta Op Mgn LTM 0.2% 2.0% 0.2% 4.4% -0.1% -1.6% 0.2%
CFO/Rev LTM 11.9% 11.4% 11.3% 1.2% 9.7% 18.6% 11.4%
CFO/Rev 3Y Avg 10.7% 11.0% 10.6% -3.1% 9.8% 14.4% 10.7%
FCF/Rev LTM 8.4% 9.2% 7.9% -2.1% 7.5% 15.8% 8.1%
FCF/Rev 3Y Avg 6.7% 8.6% 6.5% -6.0% 7.7% 11.9% 7.2%
				Valuation
 RTX LMT NOC BA GD GE Median
Name RTX      Lockheed. Northrop. Boeing   General . GE Aeros.  
Mkt Cap 270.9 143.1 97.2 170.7 92.0 328.1 156.9
P/S 3.1 1.9 2.3 1.9 1.8 7.2 2.1
P/EBIT 25.6 20.3 16.9 31.6 16.7 30.3 23.0
P/E 40.2 28.5 23.2 76.4 21.8 37.7 33.1
P/CFO 25.6 16.7 20.4 160.3 18.0 38.4 23.0
Total Yield 3.8% 5.1% 5.0% 1.3% 6.3% 2.7% 4.4%
Dividend Yield 1.3% 1.6% 0.7% 0.0% 1.7% 0.0% 1.0%
FCF Yield 3Y Avg 3.3% 5.5% 3.6% -3.1% 4.7% 2.7% 3.4%
D/E 0.1 0.2 0.2 0.3 0.1 0.1 0.1
Net D/E 0.1 0.1 0.1 0.1 0.1 0.0 0.1
				Returns
 RTX LMT NOC BA GD GE Median
Name RTX      Lockheed. Northrop. Boeing   General . GE Aeros.  
1M Rtn -1.5% -4.1% -7.1% 5.8% -2.6% 4.1% -2.1%
3M Rtn 4.2% 13.0% 8.6% -7.4% -4.8% -3.6% 0.3%
6M Rtn 27.7% 24.6% 10.9% 3.1% 2.8% 5.1% 8.0%
12M Rtn 59.7% 34.1% 29.6% 41.6% 25.4% 72.6% 37.8%
3Y Rtn 111.5% 37.7% 51.5% 10.1% 59.1% 316.0% 55.3%
1M Excs Rtn -4.0% -8.3% -10.7% 5.3% -6.8% -1.5% -5.4%
3M Excs Rtn 8.4% 15.9% 11.6% -4.1% -1.7% -1.7% 3.3%
6M Excs Rtn 22.9% 21.4% 5.8% 0.6% -1.5% 2.2% 4.0%
12M Excs Rtn 33.3% 11.5% 8.9% 11.9% 2.3% 41.2% 11.7%
3Y Excs Rtn 49.4% -31.3% -16.3% -62.6% -9.2% 252.9% -12.8%
				Comparison Analyses
 Title
0 How Does RTX Stock Stack Up Against Its Peers?
1 RTX Corp vs. General Electric: With Return Forecast Of 19%, RTX Corp Is A Better Bet
2 With 18% Gains On The Table, LMT May Outshine RTX
3 NOC or RTX - With 17% Return Forecast, RTX Probably Deserves Your Money
4 Raytheon Technologies vs. Tesla: With Return Forecast Of 40%, Tesla Is A Better Bet
5 Raytheon Technologies vs. Costco: Both Seem Similar Bets
6 Raytheon Technologies vs. NVIDIA: With Return Forecast Of 9.8%, Raytheon Technologies Is A Better Bet
7 Raytheon Technologies vs. AbbVie: Similar Revenue, But AbbVie Is A Better Bet
8 Raytheon Technologies vs. Pfizer: Similar Revenue, Similar Bets
9 Raytheon Technologies vs. Tesla: Similar Revenue, But Tesla Is A Better Bet
			
		
	

	
		
			
				
				 FDIC Bank Data
				Capital & Deposits
Assets
Loans
				
					Bank Capital
nullBank Deposits
null
					Bank Assets
null
					Bank Loans
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				 FDA Approved Drugs Data
				Expand for Morenull
				Collapse to Previewnull
			
		
	

	
		
			
				
				 Financials
				Annual
Quarterly
				$ Mil | FY: 12/31 LTM 2025 2024 2023 2022 2021 2020
Period End 12/31/2025 12/31/2025 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020
Filing Date 2/6/2026 2/6/2026 2/3/2025 2/5/2024 2/7/2023 2/11/2022 2/8/2021

Key Financials              
Total Revenue 88,603 88,603 80,738 68,920 67,074 64,388 56,587
EBITDA 14,946 14,946 12,528 9,700 11,525 10,996 3,211
Operating Income 9,300 9,300 6,538 3,561 5,504 5,136 1,294
Net Income 6,732 6,732 4,774 3,195 5,197 3,864 -3,519
EPS 5.03 5.02 3.58 2.24 3.52 2.57 -2.59

Growth Rates              
Total Revenue Growth 9.7% 9.7% 17.1% 2.8% 4.2% 13.8% 24.8%
EBITDA Growth 19.3% 19.3% 29.2% -15.8% 4.8% 242.4% -62.5%
Operating Income Growth 42.2% 42.2% 83.6% -35.3% 7.2% 296.9% -73.7%
Net Income Growth 41.0% 41.0% 49.4% -38.5% 34.5% 209.8% -163.6%

Margins              
EBITDA Margin 16.9% 16.9% 15.5% 14.1% 17.2% 17.1% 5.7%
Operating Income Margin 10.5% 10.5% 8.1% 5.2% 8.2% 8.0% 2.3%
Net Income Margin 7.6% 7.6% 5.9% 4.6% 7.7% 6.0% -6.2%

Cash & Debt              
Total Cash 7,435 7,435 5,578 6,587 6,220 7,832 8,802
Total Debt 39,506 39,506 42,893 45,239 33,500 33,142 33,339
Net Debt / (Cash) 32,071 32,071 37,315 38,652 27,280 25,310 24,537

Cash Flows              
Net Cash from Operations 10,567 10,567 7,159 7,883 7,168 7,071 3,606
Free Cash from Operations 7,448 7,448 3,923 4,717 4,393 4,629 1,639

Returns to Shareholders              
Dividends 3,574 3,574 3,217 3,239 3,128 2,957 2,732
Share Repurchases 50 50 444 12,870 2,803 2,327 47
$ Mil | FY: 12/31 2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2024Q2 2024Q1 2023Q4 2023Q3 2023Q2 2023Q1
Period End 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023
Filing Date 2/6/2026 10/21/2025 7/22/2025 4/22/2025 2/3/2025 10/22/2024 7/25/2024 4/23/2024 2/5/2024 10/24/2023 7/25/2023 4/25/2023

Key Financials Quarterly                        
Total Revenue 24,238 22,478 21,581 20,306 21,623 20,089 19,721 19,305 19,927 13,464 18,315 17,214
Ebitda 3,826 4,012 3,596 3,512 3,662 3,548 1,988 3,330 3,345 143 3,023 3,189
Operating Income 2,596 2,523 2,146 2,035 2,111 2,028 529 1,870 1,777 -1,396 1,493 1,687
Net Income 1,622 1,918 1,657 1,535 1,482 1,472 111 1,709 1,426 -984 1,327 1,426
EPS 1.21 1.43 1.24 1.15 1.11 1.10 0.08 1.29 1.05 -0.68 0.91 0.98

Key Financials TTM                        
Total Revenue TTM 88,603 85,988 83,599 81,739 80,738 79,042 72,417 71,011 68,920 67,086 70,573 68,572
Ebitda TTM 14,946 14,782 14,318 12,710 12,528 12,211 8,806 9,841 9,700 9,375 12,282 12,076
Operating Income TTM 9,300 8,815 8,320 6,703 6,538 6,204 2,780 3,744 3,561 3,275 6,191 6,051
Net Income TTM 6,732 6,592 6,146 4,600 4,774 4,718 2,262 3,478 3,195 3,191 5,562 5,539

Growth Rates Quarterly                        
Total Revenue Growth 12.1% 11.9% 9.4% 5.2% 8.5% 49.2% 7.7% 12.1% 10.1% -20.6% 12.3% 9.5%
EBITDA Growth 4.5% 13.1% 80.9% 5.5% 9.5% 2381.1% -34.2% 4.4% 10.8% -95.3% 7.3% 23.7%
Operating Income Growth 23.0% 24.4% 305.7% 8.8% 18.8% 245.3% -64.6% 10.8% 19.2% -191.8% 10.3% 56.2%
Net Income Growth 9.4% 30.3% 1392.8% -10.2% 3.9% 249.6% -91.6% 19.8% 0.3% -170.9% 1.8% 31.5%

Margins Quarterly                        
EBITDA Margin 15.8% 17.8% 16.7% 17.3% 16.9% 17.7% 10.1% 17.2% 16.8% 1.1% 16.5% 18.5%
Operating Income Margin 10.7% 11.2% 9.9% 10.0% 9.8% 10.1% 2.7% 9.7% 8.9% -10.4% 8.2% 9.8%
Net Income Margin 6.7% 8.5% 7.7% 7.6% 6.9% 7.3% 0.6% 8.9% 7.2% -7.3% 7.2% 8.3%

Cash & Debt                        
Total Cash 7,435 5,966 4,782 5,157 5,578 6,682 6,011 5,607 6,587 5,456 5,391 5,893
Total Debt 39,506 40,709 43,595 42,946 42,893 43,748 43,566 44,254 45,239 36,783 36,923 36,110
Net Debt / (Cash) 32,071 34,743 38,813 37,789 37,315 37,066 37,555 38,647 38,652 31,327 31,532 30,217

Cash Flows Quarterly                        
FCF from Operations 4,165 4,639 458 1,305 1,561 2,523 2,733 342 4,711 3,316 719 -863

Cash Flows TTM                        
FCF from Operations TTM 10,567 7,963 5,847 8,122 7,159 10,309 11,102 9,088 7,883 7,800 5,262 5,829

Returns to Shareholders Quarterly                        
Dividends 914 910 910 840 802 823 823 769 767 838 844 790
Share Repurchases -0 -0 -0 50 50 294 44 56 10,283 1,429 596 562

Return on Invested Capital (ROIC) Quarterly                        
ROIC 24.1% 23.9% 18.7% 17.9% 17.6% 17.6% 2.3% 18.2% 15.6% -12.6% 14.5% 16.2%

Return on Invested Capital (ROIC) TTM                        
ROIC TTM 23.5% 20.8% 17.5% 13.8% 14.2% 13.9% 6.8% 9.1% 8.1% 9.4% 15.0% 15.2%
			
		
	

	
		
			
				
				 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
				Behavior Stats
Betas Matrix
Behavior vs Other Asset Classes
				
					Price Behavior
Market Price $201.41  
Market Cap ($ Bil) 270.9  
First Trading Date 01/02/1970  
Distance from 52W High -5.1%  
    50 Days 200 Days
DMA Price $200.39 $175.15
DMA Trend up up
Distance from DMA 0.5% 15.0%
  3M 1YR
Volatility 25.6% 25.4%
Downside Capture 0.03 0.08
Upside Capture 39.71 68.39
Correlation (SPY) 13.2% 18.1%
					
RTX Betas & Captures as of 3/31/2026


  1M 2M 3M 6M 1Y 3Y
Beta 0.29 0.10 0.34 0.51 0.56 0.47
Up Beta -3.28 -0.60 -0.89 0.06 0.42 0.44
Down Beta -0.12 -0.05 0.37 0.80 0.85 0.62
Up Capture 71% 21% 79% 72% 57% 24%
Bmk +ve Days 7 16 27 65 139 424
Stock +ve Days 9 21 34 70 144 399
Down Capture 77% 33% 38% 30% 40% 54%
Bmk -ve Days 12 23 33 58 110 323
Stock -ve Days 13 21 29 56 106 345


[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
					
						
							1Y
							5Y
							10Y
						
						
							Based On 1-Year Data
 Annualized
Return Annualized
Volatility Sharpe
Ratio Correlation
with RTX
RTX 59.8% 25.3% 1.81 -
Sector ETF (XLI) 37.9% 15.6% 1.86 41.6%
Equity (SPY) 18.7% 13.7% 1.06 18.8%
Gold (GLD) 53.7% 27.6% 1.55 2.0%
Commodities (DBC) 25.2% 16.2% 1.37 13.7%
Real Estate (VNQ) 14.8% 14.0% 0.76 15.5%
Bitcoin (BTCUSD) -11.7% 43.0% -0.17 13.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
							Based On 5-Year Data
 Annualized
Return Annualized
Volatility Sharpe
Ratio Correlation
with RTX
RTX 23.8% 23.5% 0.88 -
Sector ETF (XLI) 13.3% 17.3% 0.60 57.9%
Equity (SPY) 11.1% 17.0% 0.50 42.8%
Gold (GLD) 21.8% 17.8% 1.01 9.1%
Commodities (DBC) 11.7% 18.8% 0.51 21.6%
Real Estate (VNQ) 3.7% 18.8% 0.10 37.7%
Bitcoin (BTCUSD) 4.6% 56.6% 0.30 16.2%

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 15.8% 27.4% 0.57 -
Sector ETF (XLI) 14.1% 19.9% 0.62 73.6%
Equity (SPY) 13.9% 17.9% 0.67 59.2%
Gold (GLD) 14.2% 15.9% 0.74 2.9%
Commodities (DBC) 8.8% 17.6% 0.42 27.1%
Real Estate (VNQ) 5.2% 20.7% 0.22 53.3%
Bitcoin (BTCUSD) 67.5% 66.9% 1.07 11.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
						
					
				
			
		
		
			
				
				 Short Interest
Short Interest: As Of Date 3312026
Short Interest: Shares Quantity 13.7 Mil
Short Interest: % Change Since 3152026 4.1%
Average Daily Volume 4.9 Mil
Days-to-Cover Short Interest 2.8 days
Basic Shares Quantity 1,345.0 Mil
Short % of Basic Shares 1.0%
			
		
	

	
		
			
				 Returns Analyses
 Title
0 Can RTX Stock Hold Up When Markets Turn?
1 RTX During 2008 Recession vs. 2022 Inflation Shock: RTX Stock Is Now 89% Higher Than Its Pre-Shock High 
2 RTX Stock Return Comparison
3 RTX Total Shareholder Return (TSR): 21.8% in 2022 and 7.3% 3-yr returns (below peer average)
			
		
	

	
		
			
				
				 Earnings Returns History
				Expand for More  Forward Returns
Earnings Date 1D Returns 5D Returns 21D Returns
1/27/2026 3.7% 3.6% 1.3%
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 11 14 17
# Negative 13 10 7
Median Positive 3.3% 3.7% 7.1%
Median Negative -1.6% -4.2% -5.0%
Max Positive 8.2% 12.1% 25.5%
Max Negative -10.2% -9.4% -11.4%
				Collapse to Preview  Forward Returns
Earnings Date 1D Returns 5D Returns 21D Returns
1/27/2026 3.7% 3.6% 1.3%
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%
1/23/2024 5.3% 6.0% 6.1%
10/24/2023 7.2% 7.4% 7.7%
7/25/2023 -10.2% -9.4% -11.4%
4/25/2023 -1.3% -2.1% -7.6%
1/24/2023 3.3% 2.6% 4.4%
10/25/2022 -1.5% 5.7% 8.6%
7/26/2022 -4.6% -1.4% -1.7%
4/26/2022 -0.4% -5.4% -5.9%
1/25/2022 2.5% 2.3% 4.7%
10/26/2021 -2.3% -3.0% -3.8%
7/27/2021 2.6% 0.8% -0.0%
4/27/2021 2.2% 3.9% 7.1%
1/26/2021 1.4% 1.0% 17.2%
10/27/2020 -7.0% -8.3% 23.2%
7/28/2020 -0.1% -5.9% 0.5%
5/7/2020 -1.6% -6.6% 25.5%
SUMMARY STATS      
# Positive 11 14 17
# Negative 13 10 7
Median Positive 3.3% 3.7% 7.1%
Median Negative -1.6% -4.2% -5.0%
Max Positive 8.2% 12.1% 25.5%
Max Negative -10.2% -9.4% -11.4%
			
		
		
			
				
				 SEC Filings
				Expand for MoreReport 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
				Collapse to PreviewReport 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
12/31/2021 02/11/2022 10-K
09/30/2021 10/26/2021 10-Q
06/30/2021 07/27/2021 10-Q
03/31/2021 04/27/2021 10-Q
12/31/2020 02/08/2021 10-K
09/30/2020 10/27/2020 10-Q
06/30/2020 07/29/2020 10-Q
03/31/2020 05/07/2020 10-Q
12/31/2019 02/06/2020 10-K
09/30/2019 10/25/2019 10-Q
06/30/2019 07/26/2019 10-Q
03/31/2019 04/26/2019 10-Q
			
		
	

	
		
			
				
				 Recent Forward Guidance [BETA]
				Latest: Q4 2025 Earnings Reported 1/27/2026
				Forward Guidance Guidance Change
Metric Low Mid High % Chg % Delta Change Prior
2026 Revenue 92.00 Bil 92.50 Bil 93.00 Bil 6.6%   Higher New Actual: 86.75 Bil for 2025
2026 Revenue Growth 5.0% 5.5% 6.0% -35.3% -3.0% Lower New Actual: 8.5% for 2025
2026 EPS 6.6 6.7 6.8 8.9%   Higher New Actual: 6.15 for 2025
2026 Free Cash Flow 8.25 Bil 8.50 Bil 8.75 Bil 17.2%   Higher New Actual: 7.25 Bil for 2025
				Prior: Q3 2025 Earnings Reported 10/21/2025
				Forward Guidance Guidance Change
Metric Low Mid High % Chg % Delta Change Prior
2025 Revenue 86.50 Bil 86.75 Bil 87.00 Bil 1.9%   Raised Guidance: 85.12 Bil for 2025
2025 Revenue Growth 8.0% 8.5% 9.0% 30.8% 2.0% Raised Guidance: 6.5% for 2025
2025 EPS 6.1 6.15 6.2 4.7%   Raised Guidance: 5.88 for 2025
2025 Free Cash Flow 7.00 Bil 7.25 Bil 7.50 Bil 0   Affirmed Guidance: 7.25 Bil for 2025
			
		
	

	
		
			
				
				 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
				Collapse to Preview# 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
6 Jasper, Philip J President, Raytheon Direct Sell 8062025 157.82 12,847 2,027,521 2,790,929 Form
7 Dasilva, Kevin G Corporate VP and Treasurer Direct Sell 7282025 156.20 8,704 1,359,574 4,686,655 Form
8 Maharajh, Ramsaran EVP and General Counsel Direct Sell 7252025 152.26 1,462 222,600 2,007,363 Form
9 Williams, Dantaya M EVP & Chief HR Officer Direct Sell 6052025 137.62 16,922 2,328,763 2,275,977 Form
10 Johnson, Amy L Corporate VP and Controller Direct Sell 5082025 127.54 4,146 528,777 1,217,505 Form
11 Winnefeld, James A Jr   Direct Buy 4232025 117.90 200 23,580 943,200 Form
12 Mitchill, Neil G Jr EVP, Chief Financial Officer Direct Sell 3032025 130.35 16,118 2,100,933 7,762,946 Form
13 Calio, Christopher T President and CEO Direct Sell 3032025 130.36 27,379 3,569,135 10,625,407 Form
14 Maharajh, Ramsaran EVP and General Counsel Direct Sell 2272025 126.82 19,431 2,464,253 3,771,901 Form
15 Brunk, Troy D President, Collins Aerospace Direct Sell 2262025 125.95 2,872 361,736 664,075 Form
16 Eddy, Shane G President, P&W Direct Sell 2192025 124.45 15,700     Form
17 Hayes, Gregory Executive Chairman Direct Sell 2192025 125.36 58,368 7,317,042 65,616,569 Form
18 Hayes, Gregory Executive Chairman Family Trust Sell 2192025 125.18 43,300     Form
19 Dasilva, Kevin G Corporate VP and Treasurer Direct Sell 2192025 124.20 5,368 666,708 5,428,551 Form
20 Dasilva, Kevin G Corporate VP and Treasurer Direct Sell 2192025 126.02 5,000 630,120 4,878,137 Form
21 Williams, Dantaya M EVP & Chief HR Officer Direct Sell 2062025 129.23 14,031 1,813,291 5,739,905 Form
22 Johnson, Amy L Senior VP and Controller Direct Sell 2102026 195.03 8,088 1,577,403 2,149,809 Form
23 Eddy, Shane G President, P&W Direct Sell 2132026 199.16 17,527     Form
24 Dasilva, Kevin G Senior VP and Treasurer Direct Sell 2132026 201.30 8,136 1,637,745 5,455,540 Form
			
		
	
	
	
		
			
				
				 RTX Trade Sentinel
				
				
					
						
					
					
						
					
					
						
					
					
						
					
				
				
				
				
				
					
						
							
								
									
										Stock Conviction									
										OVERWEIGHT (Score 9-10)
									
								
								
									 
									 	CONVICTION RATIONALE
										The calculated probability-adjusted skew of 2.33x is highly attractive and falls into Tier 1. The investment thesis is supported by the powerful combination of a strong secular tailwind ('Rising Tide') and company-specific execution on its record backlog. While the valuation is at a premium and the competitive landscape is contested, the sheer scale of the backlog provides a durable multi-year growth runway that appears to outweigh the quantifiable risks from the GTF engine issues, justifying an OVERWEIGHT rating.
									 
								
								
									
										
											STOCK ARCHETYPE
											Cyclical / Commodity
										
										RTX's revenue is driven by large, long-term 'projects' in commercial aerospace and defense, which are subject to cyclical capital expenditure trends. The business model relies on securing major contracts and is sensitive to global GDP, air travel demand, and geopolitical defense spending cycles, aligning it with the 'Cyclical' archetype.
									
								
							

							
								
									
										INVESTMENT THESIS
										Backlog Conversion and High-Margin Aftermarket Mix Shift
										The primary long thesis for RTX is its ability to convert its record $268 billion backlog into revenue and free cash flow, while simultaneously benefiting from a favorable mix shift towards higher-margin commercial aftermarket services.
										
										
											Mechanism:
											As the massive, high-visibility backlog is executed, revenue is recognized. Simultaneously, as the installed base of new engines (like the GTF) matures, it generates a recurring, high-margin revenue stream from long-term service agreements (LTSAs), which expands overall company margins.
										
										
										
											Supporting Evidence:
											
												Record backlog of $268B, up 23% year-over-year, providing approximately 3 years of revenue visibility.
Full-year 2025 book-to-bill ratio of 1.56x, indicating orders are significantly outpacing revenue generation.
Commercial aftermarket sales grew 18% in FY2025, outpacing original equipment growth and driving a favorable margin mix.
Company guidance for FY26 projects 5% to 6% organic growth, driven by strong backlog execution.
											
										
									
								
								
								
									
										PRIMARY RISK
										GTF Engine Cash Outflows and Execution Uncertainty
										The most significant friction on the stock is the ongoing financial impact and operational uncertainty stemming from the Pratt & Whitney GTF powdered metal issue. This 'legacy anchor' creates a direct cash drain and introduces risk to management's execution credibility.
										
										 
											Mechanism:
											The thesis is pressured by direct cash outflows for customer compensation and engine repairs, which reduces free cash flow available for shareholders. Any increase in the estimated cost or timeline for resolution would lead to negative earnings revisions and compress the valuation multiple due to perceived execution risk.
										
										
										
											Supporting Evidence:
											
												 Management has guided for ~$700M in customer compensation cash outflows in 2026 related to the GTF issue.
The cumulative cash outflow for this issue is expected to reach ~$2.8B by the end of 2026.
This is classified as a Type 3 (Operational/Execution) risk, a self-inflicted issue that raises questions about internal quality control and program management.
											
										
									
								
							

							
								 Key KPI Watchlist
								 
									
										
											
												
													KPI
													Threshold
													Rationale
												
											
											
												Book-to-Bill Ratio Sustainably > 1.2x This is the leading indicator of future revenue growth and demand strength. A drop below this level would signal a potential peak in the order cycle.
Pratt & Whitney Segment Operating Margin Sequential quarterly improvement This segment is the key driver of the high-margin aftermarket thesis. Margin expansion here validates the core earnings growth story.
GTF-related Cash Outflow Guidance No upward revisions from the current ~$700M forecast for 2026 This is the primary friction point. Any increase signals the problem is worse than communicated, directly impacting free cash flow and management credibility.
											
										
									
								 
							

						
					

					
						
							
								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
										BULLISH
										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.
									
								
							

							
								Next 6 months: Risks and Catalysts
								
									
										
											
												
													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.
											
										
									
								
							

							
								Key Events in Last 6 Months
								
									
										
											
												
													Date
													Event
													Stock Impact
												
											
											
												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%)
$156.26 -> $155.50
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%
$155.65 -> $158.94
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
$154.38 -> $157.02
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%
$160.07 -> $172.35
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%)
$185.68 -> $185.76
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%
$194.13 -> $201.28
											
										
									
								
							

							
								Risk Management
								
									
										
											 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
INDUSTRY
GD offers pure-play defense exposure with less complexity from commercial aerospace cycles and avoids the specific GTF engine issue affecting RTX's cash flow.
Core Thesis: Strong, stable demand for core defense platforms like Abrams tanks and Gulfstream jets provides high revenue visibility, supported by increasing global defense budgets.
TDG
INDUSTRY
TransDigm 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.
Core Thesis: The business model focuses on acquiring sole-source aerospace parts suppliers, leading to recurring, high-margin revenue streams that are less cyclical than new aircraft manufacturing.
											
										
									
								
							
						
					

					
						
							How Is The Market Pricing RTX?

							
								
									RTX is executing a sector rotation from a defense-dominant contractor to a balanced Aerospace & Defense powerhouse, driven by a record $161 billion commercial backlog and a strong recovery in global air travel.
								
							

							
								
									Filter all news through the lens of backlog execution and margin expansion, particularly in the high-growth commercial aerospace segments.
								
							

							
								
									
										 What will confirm the thesis
										Commercial aftermarket sales growth >+15% YoY; Book-to-bill ratio >1.2 in both Collins and Pratt & Whitney; Announcements of increased production rates from Airbus and Boeing; Resolution of GTF engine reliability issues ahead of schedule.
									
								

								
									
										 What will damage the thesis
										Slowing air traffic growth (RPKs); Delays in new aircraft deliveries from Boeing/Airbus impacting OE revenue; A book-to-bill ratio below 1.0 in the Raytheon (defense) segment for consecutive quarters; Increased financial provisions for GTF engine compensations.
									
								

								
									
										 Noise: Real but irrelevant to thesis
										Single-quarter fluctuations in the defense budget; Individual international defense contract wins/losses unless they represent a major strategic shift; Short-term volatility in oil prices impacting airline profitability.
									
								
							

							
								Repricing Catalyst
								The primary catalyst is the market's recognition of RTX's record $268 billion backlog, with a significant 1.56 book-to-bill ratio for the full year 2025. This provides exceptional multi-year revenue visibility. The commercial aerospace recovery, with aftermarket sales up 18% in 2025, is a key driver of high-margin revenue growth that is expected to continue.
							

							
								What RTX Makes & Who Pays

								
									
										TTM figures based on Q4 2025 Earnings Press Release, Jan 27 2026
									
								
								
								
															Pratt & Whitney Aircraft Engines
			$32.9B TTM (37% of Total) · 8.2% Margin		
	
										What It Is
				Commercial and military aircraft engines, including the Geared Turbofan (GTF) engine family for Airbus A320neo, and the F135 engine for the F-35 fighter jet.
			
							Who Pays & How
				Airlines (e.g., Delta, United) and aircraft manufacturers (e.g., Airbus) pay for engines and long-term service agreements (aftermarket). The U.S. Government and its allies pay for military engines. Switching costs are extremely high due to deep integration with the airframe, creating a multi-decade revenue stream from parts and services.
				 Per-unit sale of engines, followed by long-term, high-margin 'power-by-the-hour' or time-and-materials service and spare parts contracts.
			
							Competition
				GE Aerospace / Safran (CFM International) - LEAP engine series
				The CFM LEAP engine has historically had a larger market share on the Airbus A320neo family.
				A massive installed base of over 1,500 GTF engines and over 2,400 P&W Canada engines ordered in 2025, creating a long-tail of high-margin aftermarket revenue.
			
		
	
						Collins Aerospace Systems
			$30.2B TTM (34% of Total) · 16.2% Margin		
	
										What It Is
				A wide range of aerospace products including avionics, landing gear, wheels and brakes, aerostructures, and cabin interiors.
			
							Who Pays & How
				Aircraft manufacturers (Boeing, Airbus) and airlines pay for components on new aircraft and for aftermarket spares and repairs. High switching costs are due to certification requirements and deep system integration.
				 Per-unit sales for original equipment and per-unit or per-service for aftermarket parts and repairs.
			
							Competition
				Safran, Honeywell, GE Aerospace
				Competitors have strong positions in specific niches (e.g., Safran in landing gear and interiors).
				Extremely broad portfolio of critical aircraft components, making Collins a one-stop shop for airframers. Its large installed base provides a recurring, high-margin aftermarket business.
			
		
	
						Raytheon Defense Systems
			$28.0B TTM (29% of Total) · 11.6% Margin		
	
										What It Is
				Missile defense systems (Patriot), advanced sensors and radars, precision weapons (Tomahawk, AMRAAM), and command and control systems.
			
							Who Pays & How
				The U.S. Department of Defense and allied governments pay for critical defense capabilities through long-term development and production contracts.
				 Long-term fixed-price and cost-plus contracts for development, production, and sustainment.
			
							Competition
				Lockheed Martin, Northrop Grumman, BAE Systems
				Each competitor has dominant positions in different areas of the defense market (e.g., Lockheed in fighter jets).
				Incumbent positions on long-term, franchise programs like the Patriot missile system and key radar programs for the F-35 and F-15. Record backlog of $75 billion.
			
		
	
								
							

							
								RTX Evolution: Price Return by Era
								
								
								

								
									
										
2015–2019 · The UTC Aerospace Build-up
Creating an Aerospace Behemoth
Under CEO Greg Hayes, United Technologies (UTC) executed a major strategic shift, acquiring avionics leader Rockwell Collins in 2018 for $30 billion and B/E Aerospace in 2017. This created a 'nose-to-tail' aerospace systems supplier, setting the stage for the eventual separation of its aerospace and industrial businesses.
2020 · Merger & Separation
The Birth of Raytheon Technologies
In April 2020, UTC completed the spin-offs of its Otis (elevators) and Carrier (HVAC) divisions. Immediately after, UTC's remaining aerospace businesses (Pratt & Whitney, Collins Aerospace) merged with Raytheon Company, a major defense contractor, to form the new Raytheon Technologies (RTX), a balanced giant in both commercial aerospace and defense.
2021–Present · Post-Merger Execution & Commercial Rebound
Navigating Recovery and Driving Growth +54% (Last 1-Year as of Feb 2026)
The new RTX focused on executing merger synergies and navigating the deep COVID-19-induced downturn in commercial aviation. As air travel rebounded, the company's strategy of having balanced end-markets paid off, with the commercial recovery driving strong growth and a record backlog by the end of 2025. The company rebranded to just 'RTX' in 2023.
									
								
							

						
					

					
						
						
							
							
								Market Is In Wait-and-See Mode
								Price structure is neutral. The price is in a holding pattern with no clear directional commitment from the moving average stack. Relative to SPY: Performance in line with the broader market with no relative edge or drag in current window. Volume and momentum show mild distribution. The selling pressure is present but not overwhelming. Earnings history is neutral. The market reaction and subsequent drift do not give a clear directional signal.

								
									
										① Structure
										
											0
											
										
										Structural pillar score (-4 to +4). Driven by trend regime, SMA cross events, proximity to 52W high, and relative strength vs SPY.
									
									
										② Volume / Momentum
										
											-1
											
										
										Volume/Momentum pillar score (-4 to +4). Driven by institutional footprint score, OBV divergence, and momentum character.
									
									
										③ Catalyst
										
											0
											
										
										Catalyst pillar score (-4 to +4). Driven by earnings day reaction, 20D post-earnings drift, and post-earnings volume character.
									
								

								
									Combined Score
									
										
									
									-1 / 12
								
							

							
								
									1
									Price Structure & Trend
									Consolidating · -
									▾
								
								
									
										▲
										Price coiling between 50D and 200D moving averages with flat slope. Market appears to be in wait-and-see mode. Accumulation vs distribution within this range is the critical tell.
									

									
										
											Current
											$201.41
											
											
										
										
											20D SMA
											$197.81
											
											Above
										
										
											50D SMA
											$200.39
											Slope: +0.895%
											Above
										
										
											200D SMA
											$175.15
											Slope: +3.451%
											Above
										
									

									
										✕
										- — -1 trading days ago
									

									
										
											52W High
											$214.5
										
										
											From 52W High
											-6.1%
										
										
											All-Time High
											$214.5
										
										
											From ATH
											-6.1%
										
									
									
										
											52W Low
											$110.76
										
										
											From 52W Low
											+81.84%
										
									
								
							

							
								
									2
									Momentum
									Pausing
									▾
								
								
									
										↑
										Pausing: Recent pullback within positive longer-term trend. Likely accumulation zone if internals confirm.
									

									
										
											5D
											+1.51%
											
										
										
											20D
											-1.52%
											
										
										
											63D
											+7.2%
											
										
										
											126D
											+25.09%
											
										
										
											252D
											+59.47%
											
										
									
								
							

							
								
									3
									Relative Strength vs. SPY
									Neutral Relative Strength
									▾
								
								
									
										↑
										Neutral Relative Strength: Relative performance mixed across timeframes. No clear outperform or underperform signal.
									

									
										
											20D
											
											%
										
										
											63D
											
											%
										
										
											126D
											
											%
										
										
											252D
											
											%
										
									

									
										
											RS Trend
											-4.51%
										
										
											RS Character
											Neutral Relative Strength
										
									
								
							

							
								
									4
									Institutional Footprint & Volume
									Neutral / Mixed
									▾
								
								
									
										↓
										Neutral / Mixed: There is no clear institutional direction, and the market appears to be in genuine price discovery  phase.
									
									
										◈
										Selloff: Price and OBV declining together. Potential institutional exit in progress. OBV tracks whether big money is flowing into or out of a stock by treating trading volume like a scoreboard.
									

									
										
											Score
											-1
										
										
											Up/Down Vol 20D
											0.91
										
										
											Up/Down Vol 60D
											1.08
										
									
									
										
											OBV Slope 20D
											-21.118
										
										
											OBV Slope 60D
											+4.534
										
										
											Hi-Conv Up Days
											4
											Past 60D
										
										
											Hi-Conv Down Days
											3
											Past 60D
										
									
									
										
											Volume Trend
											-36.5% (20D avg vs 60D avg)
											20D avg vs 60D avg
										
										
									
								
							

							
								
									5
									Volatility
									Normal
									▾
								
								
									
										≈
										Normal: Volatility is in typical range which means that any trend signals are likely to be more reliable.
									
									
										
											HV 20D
											21.6%
										
										
											HV 60D
											25.2%
										
										
											HV 252D
											25.3%
										
									
									
										
											Compression Ratio
											0.86
										
										
											ATR 14D
											2.08%
										
									
								
							

							
								
									6
									Key Price Levels
									Range · Vol Falling
									▾
								
								
									
										◈
										The stock is approaching resistance on fading volume, which suggests that it could stall or reverse. Distribution may be occurring just below resistance.
									
									
										
											Nearest Resistance
											$205.71
											2.14% away · 2 touches
										
										
											Nearest Support
											$192.54
											4.4% away · 2 touches
										
										
											2nd Support
											$185.57
											1 touches
										
										
											Risk / Reward
											0.48×
										
									
									
										
											Approach Volume
											Falling
										
										
											Current Price
											$201.41
										
									
								
							

							
								
									7
									Earnings Reaction History
									Diminishing Reward
									▾
								
								
									
										★
										Diminishing Reward: Earnings beats still get initial pop but the market is fading them. This suggests expectations have caught up to reality, and the thesis is pricing in risk.
									
									
										
											
												Earnings Event 1 (older)
												10212025
											
											
												+7.67%
												Earnings Day Return · Vol Spike 2.63×
												
													
														5D
														+3.25%
													
													
														10D
														+1.49%
													
													
														20D
														+0.97%
													
													
														Post Vol
														1.46×
													
												
												Bull Confirming: The market rewarded earnings and the move extended. Institutional conviction could be behind the reaction, which supports core thesis re-rating.
												20D drift flat: The market is digesting, no directional conviction yet.
											
										
										
											
												Earnings Event 2 (recent)
												1272026
											
											
												+3.68%
												Earnings Day Return · Vol Spike 2.13×
												
													
														5D
														+1.1%
													
													
														10D
														-3.03%
													
													
														20D
														-2.31%
													
													
														Post Vol
														1.04×
													
												
												Mixed Signal: The reaction and drift do not tell a clean story. Focus on volume character post-earnings for the real verdict.
												20D drift modestly negative: The initial move is fading.
											
										
									
								
							

							
								
									8
									How the Verdict Is Derived
									Three Pillars
									▾
								
								
									
										
											
												Pillar
												Score
											
										
										
											
												① Structure
												0
											
											
												② Vol / Mom
												-1
											
											
												③ Catalyst
												0
											
										
									
									
										ℹ
										
											Bull Pillars: 0 ·
											Bear Pillars: 1 ·
											Combined Score: -1 →
											Market Is In Wait-and-See Mode
										
									
								
							

							
								Price Intelligence is derived from price-volume pattern analysis only. All moving averages are simple (SMA). Relative strength benchmarked against SPY.
							
						
					
					
				
			
		
	
	
	
		
			
				
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	Title	Date
0	DASHBOARDS
1	RTX Stock Hands $35 Bil Back - Worth a Look?	04/14/2026
2	3 Forces That Could Shake RTX Stock	03/07/2026
3	RTX Stock Surged 60%, Here's Why	03/03/2026
4	Why RTX Stock Jumped 60%?	01/28/2026
5	RTX Stock Surged 70%, Here's Why	01/10/2026
6	The Next Big Rally in RTX Stock Could Start Like This	01/08/2026
7	RTX Earnings Notes	12/28/2026
8	How RTX Stock Gained 60%	12/24/2025
9	ARTICLES
10	RTX Stock Hands $35 Bil Back – Worth a Look?	04/14/2026
11	Better Value & Growth: RTX Leads ATI Stock	03/19/2026
12	The Hidden Dangers Facing RTX Stock	03/07/2026
13	RTX Tops ATI Stock on Price & Potential	03/04/2026
14	S&P 500 Stocks Trading At 52-Week High	02/18/2026

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
NSP_3312026_Insider_Buying_45D_2Buy_200K	03312026	NSP	Insperity	Insider	Insider Buys 45DStrong Insider Buying Companies with multiple insider buys in the last 45 days	0.0%	0.0%	0.0%
TNC_3312026_Insider_Buying_45D_2Buy_200K	03312026	TNC	Tennant	Insider	Insider Buys 45DStrong Insider Buying Companies with multiple insider buys in the last 45 days	0.0%	0.0%	0.0%
ADP_3272026_Dip_Buyer_FCFYield	03272026	ADP	Automatic Data Processing	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	1.0%	1.0%	0.0%
HURN_3272026_Dip_Buyer_FCFYield	03272026	HURN	Huron Consulting	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	4.0%	4.0%	0.0%
TRU_3272026_Dip_Buyer_FCFYield	03272026	TRU	TransUnion	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.2%	5.2%	0.0%
RTX_6302020_Dip_Buyer_ValueBuy	06302020	RTX	RTX	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	15.8%	42.2%	-14.4%

	RTX	LMT	NOC	BA	GD	GE	Median
Name	RTX	Lockheed.	Northrop.	Boeing	General .	GE Aeros.
Mkt Price	201.41	619.69	681.31	222.14	340.76	311.90	326.33
Mkt Cap	270.9	143.1	97.2	170.7	92.0	328.1	156.9
Rev LTM	88,603	75,048	41,954	89,463	52,550	45,854	63,799
Op Inc LTM	9,300	7,731	4,280	-5,416	5,356	8,680	6,544
FCF LTM	7,448	6,908	3,307	-1,886	3,959	7,264	5,434
FCF 3Y Avg	5,363	6,141	2,676	-3,950	3,654	5,090	4,372
CFO LTM	10,567	8,557	4,757	1,065	5,120	8,537	6,828
CFO 3Y Avg	8,536	7,816	4,340	-1,685	4,647	6,145	5,396

	Title
0	How Does RTX Stock Stack Up Against Its Peers?
1	RTX Corp vs. General Electric: With Return Forecast Of 19%, RTX Corp Is A Better Bet
2	With 18% Gains On The Table, LMT May Outshine RTX
3	NOC or RTX - With 17% Return Forecast, RTX Probably Deserves Your Money
4	Raytheon Technologies vs. Tesla: With Return Forecast Of 40%, Tesla Is A Better Bet
5	Raytheon Technologies vs. Costco: Both Seem Similar Bets
6	Raytheon Technologies vs. NVIDIA: With Return Forecast Of 9.8%, Raytheon Technologies Is A Better Bet
7	Raytheon Technologies vs. AbbVie: Similar Revenue, But AbbVie Is A Better Bet
8	Raytheon Technologies vs. Pfizer: Similar Revenue, Similar Bets
9	Raytheon Technologies vs. Tesla: Similar Revenue, But Tesla Is A Better Bet

$ 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

Market Price	$201.41
Market Cap ($ Bil)	270.9
First Trading Date	01/02/1970
Distance from 52W High	-5.1%
	50 Days	200 Days
DMA Price	$200.39	$175.15
DMA Trend	up	up
Distance from DMA	0.5%	15.0%
	3M	1YR
Volatility	25.6%	25.4%
Downside Capture	0.03	0.08
Upside Capture	39.71	68.39
Correlation (SPY)	13.2%	18.1%

	1M	2M	3M	6M	1Y	3Y
Beta	0.29	0.10	0.34	0.51	0.56	0.47
Up Beta	-3.28	-0.60	-0.89	0.06	0.42	0.44
Down Beta	-0.12	-0.05	0.37	0.80	0.85	0.62
Up Capture	71%	21%	79%	72%	57%	24%
Bmk +ve Days	7	16	27	65	139	424
Stock +ve Days	9	21	34	70	144	399
Down Capture	77%	33%	38%	30%	40%	54%
Bmk -ve Days	12	23	33	58	110	323
Stock -ve Days	13	21	29	56	106	345

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with RTX
RTX	59.8%	25.3%	1.81	-
Sector ETF (XLI)	37.9%	15.6%	1.86	41.6%
Equity (SPY)	18.7%	13.7%	1.06	18.8%
Gold (GLD)	53.7%	27.6%	1.55	2.0%
Commodities (DBC)	25.2%	16.2%	1.37	13.7%
Real Estate (VNQ)	14.8%	14.0%	0.76	15.5%
Bitcoin (BTCUSD)	-11.7%	43.0%	-0.17	13.1%

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with RTX
RTX	23.8%	23.5%	0.88	-
Sector ETF (XLI)	13.3%	17.3%	0.60	57.9%
Equity (SPY)	11.1%	17.0%	0.50	42.8%
Gold (GLD)	21.8%	17.8%	1.01	9.1%
Commodities (DBC)	11.7%	18.8%	0.51	21.6%
Real Estate (VNQ)	3.7%	18.8%	0.10	37.7%
Bitcoin (BTCUSD)	4.6%	56.6%	0.30	16.2%

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with RTX
RTX	15.8%	27.4%	0.57	-
Sector ETF (XLI)	14.1%	19.9%	0.62	73.6%
Equity (SPY)	13.9%	17.9%	0.67	59.2%
Gold (GLD)	14.2%	15.9%	0.74	2.9%
Commodities (DBC)	8.8%	17.6%	0.42	27.1%
Real Estate (VNQ)	5.2%	20.7%	0.22	53.3%
Bitcoin (BTCUSD)	67.5%	66.9%	1.07	11.3%

Short Interest: As Of Date	3312026
Short Interest: Shares Quantity	13.7 Mil
Short Interest: % Change Since 3152026	4.1%
Average Daily Volume	4.9 Mil
Days-to-Cover Short Interest	2.8 days
Basic Shares Quantity	1,345.0 Mil
Short % of Basic Shares	1.0%

	Title
0	Can RTX Stock Hold Up When Markets Turn?
1	RTX During 2008 Recession vs. 2022 Inflation Shock: RTX Stock Is Now 89% Higher Than Its Pre-Shock High
2	RTX Stock Return Comparison
3	RTX Total Shareholder Return (TSR): 21.8% in 2022 and 7.3% 3-yr returns (below peer average)

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
1/27/2026	3.7%	3.6%	1.3%
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	11	14	17
# Negative	13	10	7
Median Positive	3.3%	3.7%	7.1%
Median Negative	-1.6%	-4.2%	-5.0%
Max Positive	8.2%	12.1%	25.5%
Max Negative	-10.2%	-9.4%	-11.4%

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

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
2026 Revenue	92.00 Bil	92.50 Bil	93.00 Bil	6.6%		Higher New	Actual: 86.75 Bil for 2025
2026 Revenue Growth	5.0%	5.5%	6.0%	-35.3%	-3.0%	Lower New	Actual: 8.5% for 2025
2026 EPS	6.6	6.7	6.8	8.9%		Higher New	Actual: 6.15 for 2025
2026 Free Cash Flow	8.25 Bil	8.50 Bil	8.75 Bil	17.2%		Higher New	Actual: 7.25 Bil for 2025

#	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

KPI	Threshold	Rationale
Book-to-Bill Ratio	Sustainably > 1.2x	This is the leading indicator of future revenue growth and demand strength. A drop below this level would signal a potential peak in the order cycle.
Pratt & Whitney Segment Operating Margin	Sequential quarterly improvement	This segment is the key driver of the high-margin aftermarket thesis. Margin expansion here validates the core earnings growth story.
GTF-related Cash Outflow Guidance	No upward revisions from the current ~$700M forecast for 2026	This is the primary friction point. Any increase signals the problem is worse than communicated, directly impacting free cash flow and management credibility.

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
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%) $156.26 -> $155.50
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% $155.65 -> $158.94
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 $154.38 -> $157.02
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% $160.07 -> $172.35
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%) $185.68 -> $185.76
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% $194.13 -> $201.28

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

RTX (RTX)

Market Price (4/14/2026): $201.1 | Market Cap: $270.5 BilSector: Industrials | Industry: Aerospace & Defense

RTX (RTX)

Market Price (4/14/2026): $201.1Market Cap: $270.5 BilSector: IndustrialsIndustry: Aerospace & Defense

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

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Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

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Market Drivers

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Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

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About RTX (RTX)

Major Customers:

Key Risks to RTX Business

Collins Aerospace Systems

Pratt & Whitney

Raytheon Intelligence & Space

Raytheon Missiles & Defense

Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets vs. RTX (RTX)

INDUSTRY: Aerospace & Defense

Higher Rev Chg 3Y Avg | Lower P/S (Values for RTX: 9.9% | 3.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for RTX: 9.9% | 29.1x)

Higher Rev Chg LTM (Value for RTX: 9.7%)

Higher Rev Chg 3Y Avg (Value for RTX: 9.9%)

Higher Op Mgn LTM (Value for RTX: 10.5%)

Higher CFO/Rev LTM (Value for RTX: 11.9%)

Higher FCF/Rev LTM (Value for RTX: 8.4%)

Higher Total Yield (Value for RTX: 3.8%)

SECTOR: Industrials

Higher Rev Chg 3Y Avg | Lower P/S (Values for RTX: 9.9% | 3.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for RTX: 9.9% | 29.1x)

Higher Rev Chg LTM (Value for RTX: 9.7%)

Higher Rev Chg 3Y Avg (Value for RTX: 9.9%)

Higher Op Mgn LTM (Value for RTX: 10.5%)

Higher CFO/Rev LTM (Value for RTX: 11.9%)

Higher FCF/Rev LTM (Value for RTX: 8.4%)

Higher Total Yield (Value for RTX: 3.8%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for RTX: 9.9% | 3.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for RTX: 9.9% | 29.1x)

Higher Rev Chg LTM (Value for RTX: 9.7%)

Higher Rev Chg 3Y Avg (Value for RTX: 9.9%)

Higher Op Mgn LTM (Value for RTX: 10.5%)

Higher CFO/Rev LTM (Value for RTX: 11.9%)

Higher FCF/Rev LTM (Value for RTX: 8.4%)

Higher Total Yield (Value for RTX: 3.8%)

Best Bets in Industrials

P/EBIT (Value for RTX: 25.6x)

P/E (Value for RTX: 40.2x)

Rev Chg 3Y Avg (Value for RTX: 9.9%)

Rev Chg LTM (Value for RTX: 9.7%)

Rev Chg Q (Value for RTX: 12.1%)

FCF/Rev 3Y Avg (Value for RTX: 6.7%)

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Market Price (4/14/2026): $201.1 | Market Cap: $270.5 Bil
Sector: Industrials | Industry: Aerospace & Defense

Market Price (4/14/2026): $201.1
Market Cap: $270.5 Bil
Sector: Industrials
Industry: Aerospace & Defense