RTX CorporationNYSE: RTX
Industrials · Aerospace & Defense
$186.23
-3.30%
Vol: 5.0M
Research Digest
Friday, June 19, 2026
RTX fell about 3.5% on June 18 as a U.S.-Iran peace agreement deflated defense-sector risk premiums, partially offset by a Jefferies upgrade and new contract wins.
RTX shares dropped roughly 3.47% on June 18, 2026 as a U.S.-Iran peace agreement reduced geopolitical risk premiums across defense stocks. Countering the move, Jefferies upgraded RTX from Hold to Buy with a $220 price target, raising 2026-2028 EPS estimates about 5% on average and citing strong defense contracts, aerospace engine aftermarket upside, and $9B+ in expected discretionary free cash flow over three years. RTX also recently booked new awards including a ~$515M U.S. Navy SPY-6 radar follow-on and a DARPA Phase 2 solid rocket motor contract with Northrop, plus Finland's purchase of Raytheon glide bombs, with a record $271B companywide backlog. This matters because RTX's thesis blends defense backlog with commercial aero recovery. The bear case: defense names just sold off on de-escalation, and the stock remains roughly flat YTD, suggesting investors worry peace and budget scrutiny could cap order momentum despite the backlog.
Previous Market Intelligence
13 daysJun 18RTX invests $100M to expand Patriot missile production and wins $515M Navy SPY-6 radar contract as Jefferies upgrades to Buy.Positive▶
RTX announced a $100 million investment on June 8, 2026 to expand its Portsmouth, Rhode Island facility for LTAMDS radar testing and Patriot GEM-T subcomponent production to meet surging global defense demand. Raytheon was also awarded a $515M U.S. Navy contract for the SPY-6 family of radars. Jefferies upgraded RTX to Buy on June 11, 2026. Citi placed RTX on a 30-day upside catalyst watch, reiterating Buy ahead of Q2 earnings, citing strong commercial aerospace and defense demand against a $271 billion backlog. RTX shares rose 3.1% on June 17 to $192.58.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14RTX shares rose on June 11 after the company paid a 7.4% higher quarterly dividend, while Jefferies upgraded the stock to Buy citing strong defense and commercial demand.Positive▶
RTX Corp shares moved up about 3.68% on June 11, 2026, attributed to payment of an increased quarterly dividend of $0.73 per share, a 7.4% rise from the prior quarter. Jefferies analyst Sheila Kahyaoglu upgraded RTX to Buy from Hold with a $220 price target, pointing to strong top- and bottom-line momentum, margin expansion, record backlog and robust defense and commercial demand. RTX's Q1 2026 results had beaten estimates by roughly 16% and drove a full-year guidance upgrade. The stock traded near $184 on June 13. This matters because the dividend hike and rating upgrade reinforce confidence in RTX's cash generation and backlog visibility across Collins, Pratt & Whitney and Raytheon. The risk is that RTX has underperformed the Dow over the past three months, and elevated defense valuations leave room for disappointment if program timing slips.
May 21RTX's Raytheon awarded Office of Naval Research contract on May 18 to develop next-gen software-defined radar capability; ex-dividend May 22 for $0.73 payout (+7.4%).Positive▶
Raytheon won a contract from the Office of Naval Research on May 18, 2026 to further develop advanced radar software for next-generation naval radars. RTX received a $3.81B contract modification for F135 propulsion system production for the F-35 program (Lots 18 and 19), with work through March 2028. Stock goes ex-dividend May 22 for a $0.73 quarterly payout, up 7.4% from prior. CEO Chris Calio will present at the Bernstein Strategic Decisions Conference on May 29. Stock trading near $174.49, down 10% over the past month.
May 20RTX's Raytheon wins Navy contract on May 18 to advance next-gen software-defined radar capability.Positive▶
On May 18, 2026, Raytheon (an RTX business) was awarded a contract from the Office of Naval Research to further develop advanced radar software for next-generation naval radars, with technology enabling each radar building block to operate independently. Earlier in May, Collins Aerospace announced a $26.5 million investment to expand its Largo, Florida facility, adding over 100 jobs and accelerating commercial aviation radar and multi-domain defense production. RTX trades at roughly $174.49 on May 20 with a 12-month consensus price target of $215.27 (~22% upside). CEO Chris Calio is set to present at the Bernstein Strategic Decisions Conference on May 29. RTX ex-dividend date is May 22 for a $0.73 quarterly payout. Risk: defense procurement timing and aerospace supply-chain volatility.
May 19RTX's Raytheon completes preliminary design review of NASA Landsat Next space instrumentsPositive▶
Raytheon, an RTX business, successfully completed the preliminary design review for NASA's Landsat Next Instrument Suite (LandIS) on May 18, 2026, advancing a key Earth-observation program. RTX Chairman and CEO Chris Calio is scheduled to present at the 2026 Bernstein Strategic Decisions Conference on May 29. The company continues to benefit from strong Q1 momentum with revenue up 9% YoY to $22B and EPS of $1.78, beating consensus. RTX ex-dividend date is May 22 with a raised $0.73 quarterly payout (7.4% increase). Analyst consensus remains Buy with a 12-month price target of $215.27, implying ~19% upside.
May 18RTX shares stuck near $170 with stock down 15.67% over the past month despite record $271B backlog, ahead of CEO Calio's May 29 Bernstein Conference appearance.Mixed▶
RTX stock has been under pressure, trading at around $170.62 on May 18 — down 15.67% over the past month and well off its March 3, 2026 all-time high of $214.50. CEO Chris Calio is scheduled to speak at the 2026 Bernstein Strategic Decisions Conference on Friday, May 29. The company reported a record $271 billion backlog (up 25% YoY) with higher production across Pratt & Whitney, Raytheon and munitions lines. Recent contract wins include a Raytheon SeaRAM ship self-defense award from Mitsubishi Heavy Industries for Australia's Sea3000 program, and Collins Aerospace's $26.5M Largo, Florida expansion. Analyst consensus remains 'Buy' with average price target of $204.25.
May 15RTX raised dividend 7.4% and Collins Aerospace announced a $26.5M Florida expansion, building on Q1 beat and a $6.6B F135 engine award.Positive▶
On May 11, 2026, Collins Aerospace announced a $26.5M investment to expand its Largo, Florida facility, creating 100+ jobs to accelerate commercial radar and defense security production. RTX's board declared a $0.73 quarterly dividend on May 1, a 7.4% increase. Q1 2026 adjusted EPS of $1.78 beat the $1.51 consensus on 9-10% revenue growth to $22.1B, driven by commercial aftermarket strength and Raytheon missile sales. Pratt & Whitney secured a $6.6B F135 engine production award for F-35 lots 18-19. Raytheon also won an MHI ship-defense systems contract. Shares trade near $178 with a 12-month consensus PT of $204 (~15% upside) and a Buy average rating. Valuation (~32x trailing) is the main risk if defense growth normalizes.
May 14RTX's Raytheon and Collins Aerospace land multiple contracts on May 11, including SeaRAM systems for Australia's Mogami-class frigates and a $26.5M Florida facility expansionPositive▶
On May 11, 2026, RTX's Raytheon was selected by Mitsubishi Heavy Industries to provide SeaRAM ship self-defense systems for Australia's Sea3000 General Purpose Frigate (Mogami-class) program. The same day, Collins Aerospace announced a $26.5M investment to expand its Largo, Florida facility for commercial aviation radar and multi-domain security production, creating over 100 new jobs. These follow a May 6 order for 120 Raytheon SharpSight radars from Blue Raven (largest single order of the system to date). Shares traded around $178.11 on May 14 with a 'Buy' analyst consensus and ~$204 12-month target. Risk: RTX's defense-heavy mix exposes it to defense budget volatility and contract timing, while Pratt & Whitney's commercial aero engine business remains tied to supply chain execution.
May 13RTX's Collins Aerospace invests $26.5M in Largo FL expansion and Raytheon wins multiple contracts including SeaRAM for Australian frigates and SharpSight radars from Blue Raven on May 11.Positive▶
RTX announced a flurry of business wins on May 11, 2026. Collins Aerospace committed $26.5 million to expand its Largo, Florida facility for commercial aviation radars and defense security solutions, creating 100+ jobs. Raytheon was selected by Mitsubishi Heavy Industries to provide SeaRAM ship self-defense systems for Australia's Sea3000 General Purpose Frigate program. Raytheon also received its largest-ever SharpSight radar order from Blue Raven for 120 units on May 6. Earlier, Pratt & Whitney secured a $6.6 billion F135 engine production award for F-35 lots 18-19. RTX raised its quarterly dividend to $0.73/share announced May 1.
May 12Collins Aerospace investing $26.5M to expand Florida radar production, creating 100+ jobs, while RTX raises quarterly dividend 7.4% to $0.73/share.Positive▶
On May 11, Collins Aerospace (an RTX business) announced a $26.5 million investment to expand its Largo, Florida facility to accelerate production of commercial aviation radars and multi-domain defense security solutions, with 100+ new highly skilled jobs and full operational capacity by late 2026. On May 6, Raytheon received its largest single order to date for SharpSight radars, a 120-unit contract from Blue Raven. RTX also raised its quarterly dividend 7.4% to $0.73 per share on May 1. The company continues to ride strong Q1 2026 momentum: adjusted EPS of $1.78 beat the $1.51 consensus, revenue rose 9% to $22.1B, and the company raised full-year 2026 adjusted sales and EPS guidance. Average analyst rating is Buy with a 12-month target of ~$204.
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