Is it Too Late to Buy RTX (NYSE:RTX) Stock? [Yahoo! Finance]
RTX Corporation (RTX)
Company Research
Source: Yahoo! Finance
These swings can quickly impact analysts' ratings for a stock; within months, weeks, or even days, a “Buy” recommendation might shift to a “Hold” and vice versa. RTX Corporation (RTX), a leading aerospace and defense contractor, exemplifies this market volatility, having rallied 49% so far in 2024. Even if a stock starts from a point of substantial undervaluation, as I believe was the case for RTX, this rally appears to have overextended its share price. Therefore, I believe it is too late to buy the stock, and I am initiating coverage with a Hold rating. RTX's third-quarter earnings results , released on October 22, were undoubtedly strong, which is one reason I'm bullish on them operationally but not overall (more on that to come in my discussion of the valuation). The company's sales climbed 6% year-over-year to $20.1 billion for the quarter, exceeding the analyst consensus by $300 million. This growth was led by a double-digit topline increase in the Pratt & Whitney segment, d
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RTX
News
- BedJet Black Friday sale: Get the machine that solves night sweats for 35% off [Business Insider]Business Insider
- RTX's Pratt & Whitney and WZL2 sign a letter of intent for F100 sustainment work in PolandPR Newswire
- Airbus CEO says CFM engine supplies achievable, but tight [Yahoo! Finance]Yahoo! Finance
- Pratt & Whitney donates $15K to Pierpont Community & Technical College's Aviation Maintenance Program [Yahoo! Finance]Yahoo! Finance
- What does Spirit Airlines' bankruptcy filing mean for travelers? [Fortune]Fortune
RTX
Earnings
- 10/22/24 - Beat
RTX
Sec Filings
- 10/22/24 - Form 10-Q
- 10/22/24 - Form 8-K
- 10/16/24 - Form 8-K
- RTX's page on the SEC website