#4 - RTX (NYSE:RTX)
Formerly known as Raytheon Technologies, RTX Co. (NYSE: RTX) is the company behind products such as the Patriot missile system and Stinger and Javelin missiles.
The current geopolitical environment is a significant reason for the company's backlog of approximately $200 billion. Investors should be able to count on the company continuing to deliver revenue and earnings that are higher year-over-year.
But with RTX stock up 19.5% in the first half of 2024, is it a good buy heading into the second half? The RTX analyst forecasts on MarketBeat give the stock a consensus Hold rating and a price target of around $98.
That said, on May 17, 2024, Wells Fargo raised its price target for the stock from $119 to $145, a 35% gain. RTX cut its dividend in 2020 but has increased it every year since, contributing to the 53.9% total return that investors have received over the last five years.
About RTX
RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.
Read More - Current Price
- $121.83
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 6 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $177.27 (45.5% Upside)
