RTX Stock Recent News
RTX LATEST HEADLINES
Raytheon has experienced significant issues with engines produced by its commercial aviation unit, Pratt & Whitney. The recent airplane engine problem is a major mistake that could potentially worsen, but it doesn't change secular tailwinds in the company's favor. Stock downgrades are reasonable for short-term investors, considering the current situation.
RTX's Collins Aerospace is set to supply its Large Area Display for integration in BAE Systems' Typhoon jet's cockpit.
The GTF engine inspections will take longer to complete than originally expected. Management needs to restore confidence among investors.
The "Halftime Report" traders debate the biggest analyst calls of the day
Although RTX stock is trading at a valuation multiple lower than its historical average, the recall of Pratt & Whitney engines is going to cost billions to the company
Analysts at the Bank of America (BoA) have lowered their rating and price target for RTX, formerly known as Raytheon Technologies Corp (NYSE:RTX), stock on the significant near-term risks posed to the company's valuation by its subsidiary Pratt & Whitney's PW1100 geared turbofan (GTF) engine issues. RTX on Monday updated investors on the issues surrounding the engine, supplied by Pratt & Whitney to Airbub for the A320 aircraft, noting the issue would result in a $3 billion charge on its third quarter financials.
Aerospace giant RTX Corp on Monday told airlines hundreds of their Airbus jets would be grounded at any one time in coming years to check for a rare manufacturing flaw, souring the mood in an industry that was only just experiencing some relief from supply chain pressures.
RTX shares have been falling since the company outlined the financial hit it expects to take due to a Pratt & Whitney engine defect. The company should survive the crisis, but it is too soon to know how long it will take or how much it will cost to resolve.
Zacks.com users have recently been watching RTX (RTX) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
RTX (RTX) closed the most recent trading day at $75.56, making no change from the previous trading session.