RTX surges after raising full-year forecast
RTX•Backlog and analyst views
Total backlog stood at $289 billion as of June 30, up nearly 22% year over year.
Of 26 brokerages covering the stock, 17 rate it "buy" or higher, seven rate it "hold" and two rate it "sell". The median price target is $220.
As of the last close, the stock had risen 6.3% year to date, compared with a 10.5% increase in the Nasdaq Composite Index .IXIC.
Quarterly results beat estimates
RTX posted second-quarter adjusted EPS of $1.89 and revenue of $24.7 billion, both beating analysts' consensus estimates, according to data compiled by LSEG.
The company's units performed strongly: Collins Aerospace reported revenue up 8%, the manufacturing unit was up 16%, and defense business Raytheon up 18% compared with last year.
RTX shares rise after outlook increase
Shares of aerospace supplier RTX RTX.N rose 4.6% to $203.8 premarket. The stock was set to open at its highest in over two weeks, if gains hold.
