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Raytheon Technologies

RTX is an aerospace and defense manufacturer formed from the merger of United Technologies and Raytheon, with roughly equal exposure as a supplier to commercial aerospace and to the defense market. The company operates in three segments: Collins Aerospace, a diversified aerospace supplier; Pratt & Whitney, a commercial and military aircraft engine manufacturer; and Raytheon, a defense prime contractor providing a mix of missiles, missile defense systems, sensors, hardware, and communications technology to the military.

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RTX Corp

RTX ORD

Whales with a lot of money to spend have taken a noticeably bullish stance on RTX.
Looking at options history for RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 55% of the investors opened trades with bullish expectations and 44% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $168,984 and 6, calls, for a total amount of $305,390.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $120.0 to $128.0 for RTX over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for RTX options trades today is 1199.0 with a total volume of 1,752.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for RTX's big money trades within a strike price range of $120.0 to $128.0 over the last 30 days.
<h3>RTX Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729529135_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>RTX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$8.85</td>
<td>$8.75</td>
<td>$8.75</td>
<td>$120.00</td>
<td>$94.5K</td>
<td>5.2K</td>
<td style="text-align: right;">280</td>
</tr>
<tr>
<td>RTX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$1.9</td>
<td>$1.86</td>
<td>$1.86</td>
<td>$120.00</td>
<td>$92.8K</td>
<td>1.6K</td>
<td style="text-align: right;">539</td>
</tr>
<tr>
<td>RTX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/22/24</td>
<td>$3.75</td>
<td>$3.2</td>
<td>$3.4</td>
<td>$127.00</td>
<td>$68.0K</td>
<td>674</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>RTX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$2.47</td>
<td>$2.39</td>
<td>$2.47</td>
<td>$128.00</td>
<td>$49.4K</td>
<td>0</td>
<td style="text-align: right;">201</td>
</tr>
<tr>
<td>RTX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$3.9</td>
<td>$3.85</td>
<td>$3.9</td>
<td>$127.00</td>
<td>$44.0K</td>
<td>82</td>
<td style="text-align: right;">17</td>
</tr>
</tbody>
</table>

<h3>About RTX</h3>
RTX is an aerospace and defense manufacturer formed from the merger of United Technologies and Raytheon, with roughly equal exposure as a supplier to commercial aerospace and to the defense market. The company operates in three segments: Collins Aerospace, a diversified aerospace supplier; Pratt &amp; Whitney, a commercial and military aircraft engine manufacturer; and Raytheon, a defense prime contractor providing a mix of missiles, missile defense systems, sensors, hardware, and communications technology to the military.
After a thorough review of the options trading surrounding RTX, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of RTX</h3>
<ul>
<li>With a trading volume of 1,369,269, the price of RTX is down by -0.67%, reaching $125.08.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 1 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for RTX</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $130.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; In a positive move, an analyst from Deutsche Bank has upgraded their rating to Hold and adjusted the price target to $129. 
&#x2A; An analyst from Citigroup persists with their Neutral rating on RTX, maintaining a target price of $132. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for RTX with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Behind the Scenes of RTX's Latest Options Trends

RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) will release its quarterly earnings report on Tuesday, 2024-10-22. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate RTX to report an earnings per share (EPS) of $1.34.
The market awaits RTX's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.12, which was followed by a 0.42% increase in the share price the next day.
Here's a look at RTX's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.29</td>
<td>1.23</td>
<td>1.25</td>
<td>1.21</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.41</td>
<td>1.34</td>
<td>1.29</td>
<td>1.25</td>
</tr>
<tr>
<td>Price Change %</td>
<td>0.0%</td>
<td>-0.0%</td>
<td>-0.0%</td>
<td>0.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729526522_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of RTX were trading at $125.92 as of October 18. Over the last 52-week period, shares are up 59.57%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Insights Shared by Analysts on RTX</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on RTX.
The consensus rating for RTX is Neutral, derived from 10 analyst ratings. An average one-year price target of $128.1 implies a potential 1.73% upside.
<h3>Peer Ratings Overview</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of Lockheed Martin, GE Aero and General Dynamics, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>The consensus outlook from analysts is an Buy trajectory for Lockheed Martin, with an average 1-year price target of $594.0, indicating a potential 371.73% upside.</li>
<li>GE Aero received a Outperform consensus from analysts, with an average 1-year price target of $210.5, implying a potential 67.17% upside.</li>
<li>As per analysts' assessments, General Dynamics is favoring an Outperform trajectory, with an average 1-year price target of $330.1, suggesting a potential 162.15% upside.</li>
</ul>
<h3>Summary of Peers Analysis</h3>
The peer analysis summary provides a snapshot of key metrics for Lockheed Martin, GE Aero and General Dynamics, illuminating their respective standings within the industry. These metrics offer valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>RTX</td>
<td>Neutral</td>
<td>7.68%</td>
<td>$3.58B</td>
<td>0.19%</td>
</tr>
<tr>
<td>Lockheed Martin</td>
<td>Buy</td>
<td>8.56%</td>
<td>$2.13B</td>
<td>25.59%</td>
</tr>
<tr>
<td>GE Aero</td>
<td>Outperform</td>
<td>3.87%</td>
<td>$3.52B</td>
<td>5.23%</td>
</tr>
<tr>
<td>General Dynamics</td>
<td>Outperform</td>
<td>17.97%</td>
<td>$1.80B</td>
<td>4.17%</td>
</tr>
</tbody>
</table>

Key Takeaway:
RTX ranks in the middle for consensus rating among its peers. It is at the bottom for revenue growth. RTX is at the top for gross profit. RTX is at the bottom for return on equity.
<h3>Unveiling the Story Behind RTX</h3>
RTX is an aerospace and defense manufacturer formed from the merger of United Technologies and Raytheon, with roughly equal exposure as a supplier to commercial aerospace and to the defense market. The company operates in three segments: Collins Aerospace, a diversified aerospace supplier; Pratt &amp; Whitney, a commercial and military aircraft engine manufacturer; and Raytheon, a defense prime contractor providing a mix of missiles, missile defense systems, sensors, hardware, and communications technology to the military.
<h3>RTX's Financial Performance</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Positive Revenue Trend: Examining RTX's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 7.68% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Net Margin: RTX's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 0.56%, the company may face hurdles in effective cost management.
Return on Equity (ROE): RTX's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 0.19%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): RTX's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.07%, the company may face hurdles in achieving optimal financial performance.
Debt Management: With a below-average debt-to-equity ratio of 0.74, RTX adopts a prudent financial strategy, indicating a balanced approach to debt management.
<a href="https://www.benzinga.com/quote/RTX/earnings">To track all earnings releases for RTX visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Preview: RTX's Earnings

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Industrials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ENVX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$12.50</td>
<td>$43.7K</td>
<td>14.6K</td>
<td>1.1K</td>
</tr>
<tr>
<td>HON</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$220.00</td>
<td>$197.6K</td>
<td>43</td>
<td>899</td>
</tr>
<tr>
<td>PAYX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$135.00</td>
<td>$35.4K</td>
<td>1.3K</td>
<td>787</td>
</tr>
<tr>
<td>KTOS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$30.00</td>
<td>$28.0K</td>
<td>535</td>
<td>257</td>
</tr>
<tr>
<td>RTX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/01/24</td>
<td>$127.00</td>
<td>$34.5K</td>
<td>64</td>
<td>220</td>
</tr>
<tr>
<td>JBLU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$5.00</td>
<td>$25.4K</td>
<td>10.6K</td>
<td>105</td>
</tr>
<tr>
<td>ETN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$350.00</td>
<td>$29.4K</td>
<td>52</td>
<td>104</td>
</tr>
<tr>
<td>BA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$130.00</td>
<td>$26.7K</td>
<td>127</td>
<td>31</td>
</tr>
<tr>
<td>GEV</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$230.00</td>
<td>$28.9K</td>
<td>287</td>
<td>7</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding ENVX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>), we observe a call option sweep with bearish sentiment. It expires in 92 day(s) on January 17, 2025. Parties traded 218 contract(s) at a $12.50 strike. This particular call needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $43.7K, with a price of $200.0 per contract. There were 14676 open contracts at this strike prior to today, and today 1159 contract(s) were bought and sold. 
• For HON (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), we notice a put option sweep that happens to be bullish, expiring in 8 day(s) on October 25, 2024. This event was a transfer of 449 contract(s) at a $220.00 strike. This particular put needed to be split into 26 different trades to become filled. The total cost received by the writing party (or parties) was $197.6K, with a price of $440.0 per contract. There were 43 open contracts at this strike prior to today, and today 899 contract(s) were bought and sold. 
• For PAYX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>), we notice a call option sweep that happens to be neutral, expiring in 1 day(s) on October 18, 2024. This event was a transfer of 52 contract(s) at a $135.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $35.4K, with a price of $675.0 per contract. There were 1357 open contracts at this strike prior to today, and today 787 contract(s) were bought and sold. 
• Regarding KTOS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>), we observe a call option trade with bullish sentiment. It expires in 127 day(s) on February 21, 2025. Parties traded 255 contract(s) at a $30.00 strike. The total cost received by the writing party (or parties) was $28.0K, with a price of $110.0 per contract. There were 535 open contracts at this strike prior to today, and today 257 contract(s) were bought and sold. 
• For RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), we notice a call option trade that happens to be neutral, expiring in 15 day(s) on November 1, 2024. This event was a transfer of 140 contract(s) at a $127.00 strike. The total cost received by the writing party (or parties) was $34.5K, with a price of $247.0 per contract. There were 64 open contracts at this strike prior to today, and today 220 contract(s) were bought and sold. 
• For JBLU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>), we notice a call option trade that happens to be bearish, expiring in 92 day(s) on January 17, 2025. This event was a transfer of 100 contract(s) at a $5.00 strike. The total cost received by the writing party (or parties) was $25.4K, with a price of $255.0 per contract. There were 10662 open contracts at this strike prior to today, and today 105 contract(s) were bought and sold. 
• Regarding ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>), we observe a put option sweep with bearish sentiment. It expires in 1 day(s) on October 18, 2024. Parties traded 84 contract(s) at a $350.00 strike. This particular put needed to be split into 28 different trades to become filled. The total cost received by the writing party (or parties) was $29.4K, with a price of $350.0 per contract. There were 52 open contracts at this strike prior to today, and today 104 contract(s) were bought and sold. 
• Regarding BA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), we observe a call option sweep with neutral sentiment. It expires in 246 day(s) on June 20, 2025. Parties traded 7 contract(s) at a $130.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $26.7K, with a price of $3825.0 per contract. There were 127 open contracts at this strike prior to today, and today 31 contract(s) were bought and sold. 
• For GEV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>), we notice a call option trade that happens to be neutral, expiring in 29 day(s) on November 15, 2024. This event was a transfer of 6 contract(s) at a $230.00 strike. The total cost received by the writing party (or parties) was $28.9K, with a price of $4820.0 per contract. There were 287 open contracts at this strike prior to today, and today 7 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ENVX

JBLU

KTOS

9 Industrials Stocks Whale Activity In Today's Session

DPA-1 provides for a criminal monetary penalty and forfeiture of $282 million to be paid to the DOJ within 10 business days.&nbsp;In addition, the SEC&rsquo;s administrative cease and desist order found that Raytheon violated the anti-bribery, books and records, and internal controls provisions of the FCPA. The order provides for a $102 million payment to the SEC that includes disgorgement, prejudgment interest on disgorgement, and a civil penalty to be paid within 14 calendar days.
DPA-2 provides for a criminal penalty in the amount of $147 million to be paid within 10 business days, and the FCA Settlement Agreement provides for an FCA settlement payment in the amount of $428 million, which includes restitution, plus interest, to be paid within 7 calendar days.
&nbsp;
&nbsp;

RTX Enters Deferred Prosecution Agreement With DoJ And Also Enters False Claims Act Settlement Agreement To Resolve Government Investigations Into Defective Pricing Claims - Filing

This marks the first Missile Defense Agency cooperative development program with&nbsp;Japan&nbsp;to reach this milestone.
The SM-3 Block IIA production milestone cleared the way for a&nbsp;$1.9 billion&nbsp;award from the U.S. Missile Defense Agency in&nbsp;July 2024&nbsp;to produce rounds for both the U.S. government and Japan Ministry of Defense.

Reported Earlier, RTX's Raytheon SM-3 Block IIA Enters Full-Rate Production, Validating Design And Securing $1.9B Deal

RTX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) shares are trading slightly higher Tuesday after the company announced the U.S. Army awarded the Javelin Joint Venture (JJV) two production contracts totaling $267 million for <a href="https://www.benzinga.com/pressreleases/24/10/n41328861/u-s-army-awards-javelin-joint-venture-first-lightweight-command-launch-unit-full-rate-production-c">Lightweight Command Launch Units (LWCLU).</a>
The Details:
RTX said the contracts support U.S. Army and Foreign Military Sales for Estonia, Latvia and Lithuania, and production work under the contracts will take place in Tucson with estimated completion in 2026 and 2028.
Javelin is developed and produced by the JJV between Raytheon in Tucson, Arizona and Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) in Orlando, Florida. The JJV has produced more than 50,000 Javelin missiles and more than 12,000 reusable Command Launch Units to date.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/10/41321699/oil-prices-drop-after-netanyahu-says-israel-will-attack-military-not-oil-or-nuclear-targets-in-iran">Oil Prices Drop After Netanyahu Says Israel Will Attack Military, Not Oil Or Nuclear Targets In Iran</a>
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, RTX shares are trading above the stock&#8217;s 50-day moving average of $119.89 and have gained 48% year-to-date.&nbsp;
<h3 class="wp-block-heading">RTX Stock Prediction 2024: </h3>
Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.
Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at RTX, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For RTX, the 200-day moving average sits at $103.64, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, which is below the current price of $124.64. For more on charts and trend lines, <a href="https://pro.benzinga.com/">see a description here.</a>
Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.
RTX Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, RTX shares are up 0.45% at $125.20 at the time of publication Tuesday.
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Image: Courtesy of Raytheon

Movers

Why Raytheon Parent RTX Stock Is Up

The U.s. Army Awarded The Javelin Joint Venture (Jjv) Two Production Contracts Totaling $267 Million For Lightweight Command Launch Units (Lwclu). These Contracts Support U.s. Army And Foreign Military Sales For Estonia, Latvia And Lithuania.

The U.S. Army Awarded The Javelin Joint Venture Two Production Contracts Totaling $267M For Lightweight Command Launch Units. These Contracts Support U.S. Army And Foreign Military Sales For Estonia, Latvia And Lithuania.

Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) added large-scale layoffs to its list of troubles in 2024 as the company faces an ongoing strike of its unionized factory workers, government investigations, executive churn and <a href="https://www.benzinga.com/markets/equities/24/10/41301576/boeing-announces-10-workforce-reduction-amidst-ongoing-struggles-impacting-nearly-17k-employees">mounting financial losses.&nbsp;</a>
Boeing To Cut 17,000 Jobs: The aerospace giant announced Friday a 10% workforce reduction of approximately 17,000 jobs in an effort to <a href="https://www.benzinga.com/pressreleases/24/10/n41299056/boeing-ceo-message-to-employees-on-positioning-for-the-future">stem financial losses</a> related to production delays and its ongoing factory workers strike. Boeing CEO Kelly Ortberg said the layoffs would affect executives, managers and employees.&nbsp;
"We know these decisions will cause difficulty for you, your families and our team, and I sincerely wish we could avoid taking them. However, the state of our business and our future recovery require tough actions," Ortberg wrote in a message to employees.&nbsp;
According to a Reuters report, Boeing planned a series of internal meetings this week to flesh out its workforce reduction plan. The reductions may include involuntary cuts in order to better manage costs and impacts, industry sources said.
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41312047/jim-cramer-is-worried-about-this-plane-maker-says-palo-alto-is-a-good-one">Jim Cramer Is Worried About This Plane Maker, Says Palo Alto Is A &#8216;Good&#8217; One</a>
Ongoing Boeing Strike: Approximately 33,000 Boeing factory workers remain on strike after aircraft assembly workers rejected a new contract offer and <a href="https://www.benzinga.com/news/24/09/40853982/boeings-stock-falls-as-33-000-aircraft-assembly-workers-strike">walked off the job </a>on Sept. 13. Jefferies aerospace analyst Sheila Kahyaoglu estimated a 30-day strike would cost the struggling aerospace giant $1.5 billion, and the strike has <a href="https://www.benzinga.com/startups/24/09/40960505/boeing-in-a-death-spiral-of-their-own-making-according-to-a-consultant-as-employees-already-have-a-d">now passed </a>the 30-day mark.&nbsp;
Last week, S&amp;P Global Ratings placed Boeing&#8217;s "BBB" issuer <a href="https://www.benzinga.com/markets/equities/24/10/41244830/boeings-credit-rating-on-negative-watch-by-s-p-as-machinist-strike-enters-4th-week">credit rating</a> and senior unsecured debt ratings on CreditWatch with negative implications. The rating agency pointed to the ongoing strike which could cost the company about $10 billion in 2024 if it continues through the fourth quarter.
Boeing&#8217;s Safety Concerns: Boeing began 2024 with a critical safety incident when a 737 MAX door plug blew out midair, injuring several passengers and forcing an emergency landing of the aircraft. The incident led to the grounding of Boeing&#8217;s 737 fleet and increased oversight of the company. A National Transportation Safety Board (NTSB) investigation and Federal Aviation Administration (FAA) audit also found multiple instances of non-compliance with Boeing&#8217;s manufacturing process control, parts handling and storage and product control.
In July, the U.S. Department of Justice (DOJ) and Boeing finalized a plea agreement in a case related to two fatal MAX plane crashes in 2018 and 2019. Boeing pleaded guilty to conspiracy to defraud the U.S. and was fined $243.6 million. Boeing is also serving a three-year term of organizational probation and investing $455 million in compliance, quality and safety programs.
Earlier this month, Sens. Elizabeth Warren of Massachusetts and Richard Blumenthal of Connecticut sent a letter to Attorney General Merrick Garland pressing the DOJ to criminally prosecute Boeing executives for not doing enough to ensure passenger safety.
Most recently, the FAA <a href="https://www.benzinga.com/markets/equities/24/10/41236652/boeing-hit-with-737-safety-alert-issues-deliveries-warning-as-strike-continues">issued an alert</a> last Monday for operators of Boeing 737 airplanes that the rudder system could jam due to a faulty part supplied by Rtx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>).
Boeing Q3 Preview: On Friday, Boeing said it will recognize impacts to its <a href="https://www.benzinga.com/pressreleases/24/10/n41299059/boeing-reports-preliminary-third-quarter-results">third-quarter financial results</a> related to charges for programs across its Commercial Airplanes and Defense, Space &amp; Security segments and the ongoing assembly workers strike.&nbsp;
The company anticipates pre-tax earnings charges of $3 billion on the 777X and 767 programs in the Commercial Airplanes segment and expects pre-tax earnings charges of $2 billion on the T-7A, KC-46A, Commercial Crew and MQ-25 programs in the Defense, Space &amp; Security segment.&nbsp;
Boeing expects to report third-quarter revenue of $17.8 billion, GAAP loss per share of $9.97 and negative operating cash flow of $1.3 billion.
Boeing Analysts Weigh In: Goldman Sachs analyst Noah Poponak maintained a Buy rating on Boeing stock and lowered the price target from $202 to $200 following the company&#8217;s preliminary third-quarter results. 
The firm highlighted Boeing's better-than-expected cash flow for the quarter and the company's cost reduction plans. Goldman Sachs estimated Boeing's labor to be 15% of total cost following workforce reductions, which the analyst said could partially offset margin shortfalls elsewhere in its business.&nbsp;
Wall Street analysts and investors will be closely watching when Boeing reports its third-quarter results on Wednesday, Oct. 23 before the market opens. According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, the Street expects Boeing to report quarterly losses of $1.65 per share and revenue of $18.432 billion. 
BA Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Boeing shares are down 1.54% at $148.470 at the time of publication Monday.
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<li><a href="https://www.benzinga.com/news/24/10/41277250/whats-going-on-with-first-solar-stock">What&#8217;s Going On With First Solar Stock?</a></li>
</ul>
Photo: Shutterstock.

Equities

Government

Previews

Boeing's Q3 Earnings Face Turbulence: Strikes, Layoffs, Safety Woes Ahead

Citigroup analyst Jason Gursky maintains RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) with a Neutral and raises the price target from $122 to $132.

Price Target

Analyst Ratings

Citigroup Maintains Neutral on RTX, Raises Price Target to $132

The aerospace and defense industry has been a sustained beacon of strength in an otherwise volatile market. With geopolitical tensions escalating, including the ongoing Russia-Ukraine war and conflicts in the Middle East, the sector has steadily risen with momentum. Two giants in the industry, Lockheed Martin and Raytheon Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>), have outperformed the broader market, with both stocks trading near their 52-week highs.&nbsp;
But the critical question remains: Should investors chase these stocks or wait for a pullback?
<h2>Lockheed Martin: Analysts Still Bullish Despite Strong Gains</h2>
Lockheed Martin, the largest U.S. defense contractor with a market capitalization of $145 billion, continues to impress. Specializing in a wide range of defense and aerospace systems, the company operates across four primary segments: aeronautics, missiles and fire control, rotary and mission systems, and space.
Lockheed has enjoyed a remarkable run in 2024, with its stock up 34% YTD, thanks partly to solid earnings and favorable market sentiment. The company posted an EPS of $7.11 in its last report, easily beating expectations for the third successive quarter, and recorded revenue growth of 8.6% year-over-year. Analysts project further growth, with earnings expected to rise by 8.26%. Lockheed&#39;s dividend yield of 2.17% and its steady dividend growth add to the stock&#39;s appeal.
Despite these impressive fundamentals, technical indicators suggest caution. With its RSI approaching 80, indicating overbought conditions, and the stock trading significantly above its 50-day moving average, it might be best to wait for a pullback and reset. Although RBC recently raised its price target to $675, implying an 11% upside, the consensus price target suggests a slight downside. Patience might be key for long-term investors, as a dip closer to its 50-day moving average could offer a more attractive entry point.
<h2>Raytheon Technologies: Strong Fundamentals, But Stretched Valuation</h2>
Raytheon Technologies, another defense giant, has also surged higher this year, up 47% YTD. The company provides advanced systems and services for commercial and military clients and has consistently outperformed expectations recently. In its most recent earnings report, Raytheon posted $1.41 EPS, beating the consensus estimate by $0.11. Revenue also rose 7.7% year-over-year, continuing a pattern of earnings surprises.
Looking ahead, analysts forecast further upside for the stock, with a consensus price target of $161.13, implying a 30% potential gain from current levels. However, while the stock&#39;s momentum is undeniable, its valuation is becoming a concern. Raytheon&#39;s P/E ratio sits at a lofty 71.45, and its PEG ratio of 6.5 significantly exceeds that of Lockheed Martin (5.47). With the stock nearing its all-time high and trading stretched above its 200-day moving average, the risk-reward ratio may not be favorable for investors looking to buy at current levels for the long run.
That said, Raytheon&#39;s forward P/E of 20 suggests that the company still offers long-term growth potential, especially once its stock returns to a more favorable level. Given its consistent earnings performance and strong fundamentals, a pullback could provide an excellent opportunity to initiate or add to a position.
<h2>Patience Is Key</h2>
Both Lockheed Martin and Raytheon Technologies are flying high due to solid earnings, geopolitical factors, and positive market sentiment. However, with their stocks trading near all-time highs and indicators suggesting they are overbought, investors may want to wait for a pullback to get a better risk-reward ratio.&nbsp;
While both stocks are fundamentally solid and poised for long-term growth, chasing them at current levels could expose investors to short-term downside risk. When the market eventually cools, these two defense giants could offer a compelling buying opportunity for patient investors.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/2-defense-giants-soaring-chase-gains-or-wait-for-a-dip/">2 Defense Giants Soaring: Chase Gains or Wait for a Dip?</a>&quot; first appeared on MarketBeat.

Earnings Beats

Large Cap

Dividends

Technicals

Tech

2 Defense Giants Soaring: Chase Gains or Wait for a Dip?

Contracts

RTX's Raytheon Receives $736M Contract From US Navy To Produce AIM-9X SIDEWINDER Missiles

RTX's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) short percent of float has fallen 8.65% since its last report. The company recently reported that it has 12.58 million shares sold short, which is 0.95% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.7 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>RTX Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728479713_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for RTX has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing RTX's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, RTX's peer group average for short interest as a percentage of float is 2.91%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into RTX's Recent Short Interest

Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) has faced some turbulent years with <a href="https://www.benzinga.com/news/24/09/40673884/boeing-safety-fears-prompt-travelers-to-double-check-aircraft-details-before-booking-study">several safety issues</a>, public criticism and <a href="https://www.benzinga.com/markets/equities/24/07/40073628/who-is-boeings-new-ceo-kelly-ortberg-former-rockwell-collins-chief-comes-out-of-retirement">substantial leadership overhauls</a>. Here&#8217;s the latest update on ongoing safety concerns and the effects of an <a href="https://www.benzinga.com/news/24/09/40886979/boeing-stock-continues-to-fall-after-announcing-hiring-freeze-other-cost-cuts-amid-workers-strike">ongoing labor strike</a>.
Regulatory and Safety: In an <a href="https://www.faa.gov/sites/faa.gov/files/SAFO-24006.pdf">alert</a> issued Monday, the U.S. Federal Aviation Administration (FAA) warned operators of Boeing 737 airplanes that the rudder system could jam due to a faulty part.
Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-10-08/faa-issues-safety-alert-on-737-rudder-issue-after-ntsb-rebuke">reported</a> the National Transportation Safety Board (NTSB) previously criticized the FAA for downplaying the issue&#8217;s urgency. The NTSB issued urgent guidance to both the FAA and Boeing about resolving the issue, said to be caused by defective parts supplied by Rtx Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>).
Roughly 271 suspect components may still be in use on non-U.S. carrier aircraft, while 16 may still be in use in the U.S., Bloomberg reported.
Strike Update: Meanwhile, Boeing has issued guidance on the impact of the labor strike&#8217;s impact on September delivery figures.
Boeing delivered over 33 aircraft to customers in September amid the disruption to manufacturing operations, Bloomberg stated. The 33,000 striking employees began their strike on Sept. 13.
The company warned that the ongoing work stoppage in Washington state will reduce future deliveries. Previous negotiations between the two parties <a href="https://www.benzinga.com/general/24/09/40996898/boeings-striking-workers-reject-best-and-final-offer-it-missed-the-mark-on-many-of-the-things">have broken down</a>. Workers demanded a 40% pay increase which Boeing did not meet.
The Arlington, Virginia-based company <a href="https://www.benzinga.com/news/24/10/41170226/boeing-workers-union-says-decision-to-cut-health-care-for-33-000-is-unnecessary-and-cruel">received subsequent criticism</a> for cutting health benefits for the striking employees. 
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<li><a href="https://www.benzinga.com/news/24/09/41083798/elon-musk-confirms-crew-dragons-iss-arrival-spacex-capsule-to-rescue-stranded-boeing-astronauts-crew">Elon Musk Confirms Crew Dragon&#8217;s ISS Arrival — SpaceX Capsule To Rescue Stranded Boeing Astronauts, Crew 9 Gets Warm Welcome</a></li>
</ul>
Photo: Shutterstock

Travel

Legal

Boeing Hit With 737 Safety Alert, Issues Deliveries Warning As Strike Continues

Lockheed Martin Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lmt#NYSE">LMT</a>) with its strong backlog, rising earnings and sales estimates, robust ROE and high solvency, offers a great investment opportunity in the Zacks Aerospace sector.
The company currently carries a Zacks Rank #2 (Buy). Let&#39;s look at the factors that are driving the stock.
<h2>LMT&#39;s Growth Projections &amp; Surprise History</h2>
The Zacks Consensus Estimate for LMT&#39;s 2025 earnings per share is pinned at $28.87, which indicates year-over-year growth of 8.9%.
The consensus estimate for 2024 sales is pinned at $71.14 billion, which indicates year-over-year growth of 5.3%.
The company&#39;s long-term (three to five years) earnings growth rate is 4.7%.
LMT has a positive earnings surprise history. Its trailing four-quarter earnings surprise is 7.46%, on average.
<h2>LMT&#39;s Dividend Yield and Share Repurchases</h2>
Lockheed Martin has been rewarding its shareholders with dividend payments at regular intervals. Its current dividend yield is 2.08%, better than the industry&#39;s yield of 1.54%.
During the first six months of 2024, LMT repurchased 4.2 million shares worth $1.9 billion. As of June 30, 2024, the total remaining authorization for common share repurchases under the company&#39;s share repurchase program was $8.2 billion.
<h2>LMT&#39;s Return on Equity</h2>
LMT&#39;s current return on equity (ROE) is 95.03%, which is more than the industry average of 11.55%. ROE, a profitable measure, reflects how effectively a company is utilizing its shareholders&#39; funds in its operations to generate income.
<h2>LMT&#39;s Solvency</h2>
The time-to-interest earned ratio at the end of the second quarter was 8.83. The ratio, being greater than one, reflects the company&#39;s ability to meet future interest obligations without difficulties.
<h2>LMT&#39;s Liquidity</h2>
LMT&#39;s current ratio is 1.24, better than the industry average of 1.10. The current ratio, being greater than one, indicates the company has enough short-term assets to meet its short-term obligations.
<h2>LMT&#39;s Rising Backlog</h2>
Lockheed Martin&#39;s total backlog was a solid $158.34 billion as of June 30, 2024. Such a consistent level of contract flows and subsequent backlog growth bolster its long-term revenue prospects. The company expects to recognize approximately 36% of its backlog over the next 12 months and approximately 60% over the next 24 months.
<h2>LMT Stock Price Performance</h2>
Shares of LMT have gained 31.8% in the past three months compared with the industry&#39;s 9.9% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/68/80556.jpg?v=257228447" />
Image Source: Zacks Investment Research
<h2>Other Stocks to Consider</h2>
Some other top-ranked stocks in the industry are Air Industries Group (AMEX:AIRI), Leidos Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ldos#NYSE">LDOS</a>) and RTX Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>). AIRI sports a Zacks Rank #1 (Strong Buy), while LDOS and RTX currently carry a Zacks Rank of 2.
AIRI delivered an average earnings surprise of 8.88% in the last four quarters. The Zacks Consensus Estimate for AIRI&#39;s 2024 sales indicates year-over-year growth of 7.1%.
LDOS delivered an average earnings surprise of 23.49% in the last four quarters. The consensus estimate for LDOS&#39;s 2024 sales indicates year-over-year growth of 5.4%.
RTX delivered an average earnings surprise of 6.62% in the last four quarters. The Zacks Consensus Estimate for RTX&#39;s 2024 sales indicates year-over-year growth of 7%.
<a href="https://www.zacks.com/stock/news/2346858/here-s-why-you-should-add-lockheed-martin-stock-to-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2346858">To read this article on Zacks.com click here.</a>

Small Cap

AIRI

LDOS

Here's Why You Should Add Lockheed Martin Stock to Your Portfolio Now

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said FTAI Aviation Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) is &#8220;too high&#8221; for him and pre<a href="https://www.benzinga.com/quote/FTAI/analyst-ratings">fers to be in</a> RTX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>).
RTX, last week, said Raytheon has secured a three-year, two-phase contract from DARPA to develop foundational ultra-wide bandgap semiconductors.
AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) is &#8220;just too hot,&#8221; Cramer said.
On Oct. 2, AST SpaceMobile announced completion of redemption of public warrants.
The &#8220;Mad Money&#8221; host recommended buying Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>), adding that it is at a great level to buy.
On Oct. 1, Barclays analyst Trevor Young maintained Shopify with an Equal-Weight rating and raised the price target from $65 to $70.
Cramer said no to First Watch Restaurant Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRG#NASDAQ">FWRG</a>).
On Oct. 4, Guggenheim analyst Gregory Francfort maintained First Watch Restaurant with a Buy and lowered the price target from $24 to $20.
FIGS, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIGS#NYSE">FIGS</a>) is &#8220;not expensive and a very good spec,&#8221; Cramer said.
On Aug. 8, FIGS posted better-than-expected earnings for its second quarter.
Price Action:
<ul>
<li>FTAI Aviation shares gained 5% to settle at $140.15 on Friday.</li>
<li>AST SpaceMobile shares gained 12.5% to close at $26.11 during the session.</li>
<li>Shopify shares gained 5.5% to close at $82.43 during Friday's session.</li>
<li>Figs shares gained 3.6% to close at $46.70 on Friday.</li>
<li>First Watch Restaurant Group shares gained 0.8% to settle at $14.51 on Friday.</li>
</ul>
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<li><a href="https://www.benzinga.com/markets/24/10/41196046/wall-streets-most-accurate-analysts-give-their-take-on-3-energy-stocks-delivering-high-dividend-yiel">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Energy Stocks Delivering High-Dividend Yields</a></li>
</ul>
Image: Shutterstock

ASTS

FIGS

FTAI

FWRG

SHOP

Jim Cramer: AST SpaceMobile Is 'Just Too Hot,' Recommends Buying This Tech Stock

Milestone moves program one step closer to operational testing
PORTSMOUTH, R.I., Oct. 7, 2024 /PRNewswire/ --&nbsp;Raytheon, an RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) business, recently conducted a series of controlled environmental tests for the Barracuda Mine Neutralization System at the Naval Surface Warfare Center Carderock Division.
Using a production representative test unit, Barracuda operated and collected data in environments of various sea states and water currents, demonstrating the ability to hydrodynamically control itself in conditions simulating the ocean.
The test demonstrated the ability of the vehicle to detect, track and hold position on a target on its own. It was the first time Raytheon has executed this type of testing with the Barracuda mine neutralizer underwater vehicle and moves the program one step closer towards meeting operational requirements.

RTX's Raytheon Completes Hydrodynamic Testing For The Barracuda Mine Neutralization System; Milestone Moves Program One Step Closer To Operational Testing

Lockheed Martin Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lmt#NYSE">LMT</a>) announced that its board of directors approved a 4.8% hike in its quarterly dividend to $3.30 per share, marking the 22nd consecutive annual dividend hike. The revised quarterly dividend is payable on Dec. 27, 2024, to shareholders of record at the close of the business on Dec. 2, 2024.
The company&#39;s new annualized dividend rate is $13.20. The current dividend yield is 2.08%, better than the Zacks S&amp;P 500 composite&#39;s 1.24%.
Along with dividend payments, Lockheed&#39;s management continues to increase shareholder value by repurchasing shares. The board authorized an additional $3 billion for share repurchases, which resulted in a total authorization under the repurchase program of nearly $10 billion.
<h2>Can Lockheed Sustain Dividend Hikes?</h2>
Lockheed has a platform-centric focus and leveraged presence in the Army, Air Force, Navy and IT programs of the U.S. Department of Defense that guarantee a steady inflow of follow-on orders. The company continues to clinch big defense deals from the U.S. government and allied countries. As a consequence, it exited the second quarter of 2024 with a record backlog of $158.3 billion, backed by increasing demand and a rising global defense budget. This shall boost LMT&#39;s sales growth and cash flow in the coming quarters.
Apart from domestic orders, the company also enjoys the advantage of having a wide international customer base. In the second quarter of 2024, 25.8% of total net sales were from international customers. The company is focused on expanding its international footprint, which continues to support earnings.
Lockheed Martin is the largest U.S. defense contractor with a platform-centric focus that guarantees a steady inflow of follow-on orders from its leveraged presence in the Army, Air Force, Navy and IT programs. The F-35 program continues to be a key growth program for Lockheed. The production of F-35 jets is expected to continue for many years ahead, given the U.S. government&#39;s current inventory target of 2,456 aircraft for the Air Force, Marine Corps and Navy. This will support its top line and boost its earnings.
Courtesy of Lockheed&#39;s global presence, strong backlog, F-35 program and contract wins, the company continues to generate strong operating cash flow, which provides assurance that it will be able to sustain shareholder-friendly moves in the future as well.
<h2>Other Aerospace Companies&#39; Recent Dividend Hikes</h2>
Here are some defense companies that have been rewarding shareholders with impressive dividend payouts. 
On May 14, 2024, Northrop Grumman Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/noc#NYSE">NOC</a>) announced that its board of directors approved a 10% hike in its quarterly dividend to $2.06 per share, marking the 21st consecutive annual dividend hike. 
Northrop boasts a long-term (three to five years) earnings growth rate of 8.7%. The Zacks Consensus Estimate for NOC&#39;s 2024 sales implies an improvement of 5.4% from the previous year&#39;s level.
On May 10, 2024, Curtiss-Wright (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cw#NYSE">CW</a>) announced that its board of directors declared a 5% increase in the quarterly dividend to 21 cents per share. The company authorized an additional $300 million for future share repurchases, increasing the total available authorization to $400 million.
Curtiss-Wright boasts a four-quarter earnings surprise of 11.52%, on average. The Zacks Consensus Estimate for CW&#39;s 2024 sales implies an improvement of 7.1% from the prior-year figure.
On May 2, 2024, RTX Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>) announced a dividend of 63 cents per, calling for an increase of 6.8% over the prior quarter&#39;s dividend amount.
RTX Technologies has a long-term earnings growth rate of 10.4%. The Zacks Consensus Estimate for RTX&#39;s 2024 sales calls for an improvement of 7% from the prior-year figure.
<h2>LMT Stock Price Movement</h2>
In the past three months, shares of LMT have rallied 31.1% compared with its industry&#39;s rise of 12.2%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/68/80333.jpg?v=301050165" />
Image Source: Zacks Investment Research
<h2>LMT&#39;s Zacks Rank</h2>
Lockheed Martin currently carries a Zacks Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2345980/lockheed-shares-more-profit-raises-dividend-buyback-authorization?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2345980">To read this article on Zacks.com click here.</a>

Buybacks

Lockheed Shares More Profit, Raises Dividend & Buyback Authorization

Deutsche Bank analyst Scott Deuschle upgrades RTX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) from Sell to Hold, raising the<a target="_blank" href="https://www.benzinga.com/quote/RTX/analyst-ratings" rel="noreferrer noopener"> price forecast from&nbsp;$109&nbsp;to&nbsp;$129.</a>
According to the analyst, RTX&#8217;s aerospace exposure is expected to enable it to outpace other defense companies, leveraging operational efficiencies to drive long-term growth and compound earnings.
The analyst sees potential for further stock upside with RTX currently valued similarly to pure defense companies for 2026 but boasting a more promising long-term growth outlook due to its aerospace exposure.
Deuschle writes that the overall narrative for RTX is compelling, as long as operational improvements persist.
The analyst forecasts third-quarter earnings per share of $1.36, exceeding the Street&#8217;s expectation of $1.32 by $0.04.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41146781/rtxs-raytheon-secures-darpa-contract-to-develop-ultra-wide-bandgap-semiconductors-details" rel="noreferrer noopener">RTX&#8217;s Raytheon Secures DARPA Contract To Develop Ultra-Wide Bandgap Semiconductors: Details</a>
Deuschle projects sequential revenue growth at Pratt &amp; Whitney and Collins, driven by increased aftermarket activity at Pratt &amp; Whitney from higher V2500 and GTF shop visits, while Collins is likely to benefit from sequential original equipment growth on Airbus and business jet platforms, along with sustained aftermarket strength and potential upside from increased modification revenue.
The analyst projects Raytheon&#8217;s revenue will decline quarter-over-quarter but sees upside potential due to strong demand, favorable DoD spending trends, and gradually improving conditions in the defense supply chain.
EPS estimates for 2024-2026 have been revised to $5.48, $6.06, and $6.88, respectively, from $5.48, $6.17, and $6.93.
This decrease is mainly due to lower original equipment rate assumptions for both Boeing and Airbus, partially offset by a better product mix and higher margins.
Meanwhile, operational risk keeps them at a Hold rather than a Buy.
Price Action: RTX shares are trading lower by 0.52% to $123.40 on Thursday.
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Analyst Color

Upgrades

General

European Aeronautic Defence And Space Unsponsored

EADSY

Deutsche Bank Changes Tune On Raytheon Parent RTX, Sees Aerospace Edge Fuel Long-Term Growth Potential

Lockheed Martin Corp.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lmt#NYSE">LMT</a>) business segment, Space Systems, recently clinched a modification contract for manufacturing its Trident II D5 missile. Per the terms of the deal, Lockheed will also offer deployed systems support and Warhead 93/Mark7 development for Trident II D5 missile.&nbsp;
<h2>Details of the Deal</h2>
Valued at $2.11 billion, the contract is projected to be completed by Sept. 30, 2029. The award has been provided by the Strategic Systems Programs, Washington, D.C.
A major portion of work related to this deal will be carried out in Denver, CO, Valley Forge, PA, Titusville, FL and Magna, UT.
<h2>LMT Stock&#39;s Place in Missile Market</h2>
Lockheed is a well-known manufacturer of missiles and missile defense systems in the global defense industry. While its Missiles and Fire Control&nbsp;business segment provides air and missile defense systems, tactical missiles and air-to-ground precision strike weapon systems like the Patriot Advanced Capability-3 (PAC-3), Terminal High Altitude Area Defense and Hellfire missiles, its Space Systems division builds notable strike missile as well as missile defense systems like the Next Generation Interceptor (NGI).&nbsp;
As far as Lockheed&#39;s Trident II D5 missile is concerned, it is the latest generation of the U.S. Navy&#39;s submarine-launched fleet ballistic missiles, following the highly successful Polaris, Poseidon and Trident I C4 programs. The fact that this program is the only submarine-launched intercontinental ballistic missile currently in production in the United States surely highlights its significance in the country&#39;s naval defense and the solid demand the company enjoys in the missile marketplace. The latest contract win is a bright example of that.&nbsp; &nbsp;
With such unique featured missile products in its portfolio, Lockheed frequently enjoys a solid order flow for the company&#39;s missiles from the Pentagon and other U.S. allies. This boosts the top-line growth for its MFC and Space Systems unit. Evidently, LMT&#39;s MFC unit registered 12.6% year-over-year growth in its sales in the last reported quarter, while Space Systems witnessed a 1% top-line rise.&nbsp;
<h2>What Lies Ahead for LMT Stock?</h2>
In the past decade, nations across the globe have significantly increased their spending on military equipment and weaponry to modernize and upgrade their defense systems in the face of rapidly rising geopolitical tensions and cross-border disputes worldwide. Amid this backdrop, the demand for missiles has also gained substantial momentum as these play a very important role in military missions.
This must have prompted the Morder Intelligence firm to predict that the global missile and missile defense systems market will witness a CAGR of 5% in the 2024-2029 period. Such solid market expansion projections exemplify immense growth opportunities for Lockheed.
Notably, the company&#39;s Space Systems unit&#39;s major programs include the Next Generation Overhead Persistent Infrared (Next Gen OPIR) system, which provides the U.S. Space Force with enhanced worldwide missile warning capabilities, apart from the Trident II missile. Moreover, its NGI program utilizes next-generation propulsion and sensors to provide homeland missile defense.
<h2>Growth Opportunities for LMT&#39;s Peers</h2>
Apart from LMT, other prominent defense majors that are likely to enjoy the perks of the expanding global missile and missile defense market are mentioned below:
Northrop Grumman (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/noc#NYSE">NOC</a>): It manufactures notable strike missiles like the Advanced Anti-Radiation Guided Missile Extended Range (AARGM-ER), which is a supersonic, air-launched tactical missile system. NOC&#39;s Missile Products business unit is a leading U.S. provider of solid rocket propulsion for national security and defense, providing stages for weapon systems, such as air-launched missiles, interceptors, submarine-launched systems and hypersonic missile systems.
NOC has a long-term earnings growth rate of 8.7%. The Zacks Consensus Estimate for its 2024 sales implies growth of 5.4% from the prior-year reported figure.
The Boeing Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>): Its air and missile defense systems have been protecting the United States, warfighters, allies and international partners against threats ranging from intercontinental ballistic missiles to hostile aircraft for the past 25 years. Its renowned missile and related products include the Aegis Ballistic Missile Defense, PAC-3 Missile Seeker, Ground-Based Midcourse Defense and a few more.&nbsp;
BA boasts a long-term earnings growth rate of 21.3%. The Zacks Consensus Estimate for BA&#39;s third-quarter 2024 sales indicates growth of 10% from the prior-year reported figure.
RTX Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>): It is a renowned manufacturer of missiles and missile defense systems. RTX&#39;s product portfolio includes combat-proven missiles like the TOW missile, Guidance Enhanced Missile, Advanced Medium Range Air-to-Air Missile, Tomahawk, Standard Missile 2 and a few more.&nbsp;
RTX boasts a long-term earnings growth rate of 10.4%. The Zacks Consensus Estimate for its 2024 sales indicates growth of 7% from the prior-year reported figure.
<h2>Price Movement</h2>
In the past year, shares of Lockheed have surged a solid 49.3% compared with the industry&#39;s growth of 17.9%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/23/80164.jpg?v=635114415" /> 
Image Source: Zacks Investment Research
<h2>Zacks Rank</h2>
LMT currently carries a Zacks Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2345287/lockheed-wins-2-1b-contract-to-aid-trident-ii-d5-missile-program?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2345287">To read this article on Zacks.com click here.</a>

Lockheed Wins $2.1B Contract to Aid Trident II D5 Missile Program

Deutsche Bank analyst Scott Deuschle upgrades RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) from Sell to Hold and raises the price target from $109 to $129.

Deutsche Bank Upgrades RTX to Hold, Raises Price Target to $129

RTX agrees to pay $280M penalty to resolve Qatar bribery charges

RTX Corporation: I Maintain A Buy Rating Despite Apparent Imbalance In Defense

Robotics is pivotal in the automation revolution, driving substantial growth in diverse sectors like air defense and healthcare. Therefore, it could be wise to consider fundamentally strong robotics stocks like RTX (RTX), Stryker (SYK), and Medtronic (MDT). Read on... The robotics market is leading the automation revolution, driven by groundbreaking innovations in AI, machine learning, collaborative robots, enhanced safety features, and autonomous systems. With such rapid advancements, investing in this market presents a compelling opportunity for substantial growth.
These advancements are reshaping industries such as air defense, as well as the MedTech and medical sectors, boosting productivity, bridging skill gaps, and revolutionizing healthcare. In this evolving landscape, investors might want to consider strong robotics stocks that are driving this transformation: RTX Corporation (<a href="https://stocknews.com/stock/RTX/">RTX</a>), Stryker Corporation (<a href="https://stocknews.com/stock/SYK/">SYK</a>), and Medtronic plc (<a href="https://stocknews.com/stock/MDT/">MDT</a>).
The robotics revolution is reshaping air defense, leveraging AI in soldier training, aerial vehicles (UAVs), and logistics to boost combat effectiveness and cybersecurity. With enhanced drones, autonomous systems, and EMP tech, modern defense becomes more agile, boosting optimism in the robotics sector. The global robotics market is set to grow at a 14.7% CAGR, reaching <a href="https://www.precedenceresearch.com/robotics-technology-market">$283.19 billion by 2032</a>.
Furthermore, robotics is transforming healthcare by enabling precise surgeries, speeding diagnoses, enhancing mobility, supporting rehabilitation, and increasing accessibility through telemedicine. These innovations boost patient care and market growth. As a result, this year, the global medical service robotics market reached $11.2 billion and is expected to grow to nearly <a href="https://www.statista.com/forecasts/1321270/worldwide-medical-robotics-market-size#:~:text=In%202024%2C%20the%20global%20medical,billion%20U.S.%20dollars%20by%202028.">$21 billion by 2028</a>.
Considering these trends, let's assess the fundamentals of the abovementioned robotics stocks.
RTX Corporation (<a href="https://stocknews.com/stock/RTX/">RTX</a>)
RTX is an aerospace and defense company that provides systems and services for commercial, military, and government customers internationally. It operates through three segments: Collins Aerospace, Pratt &amp; Whitney, and Raytheon.
On October 15, 2024, RTX's Raytheon achieved full-rate production approval for its SM-3 Block IIA missile, marking a key milestone in its missile defense partnership with Japan.
On October 10, 2024, RTX's Raytheon was awarded a $736 million U.S. Navy contract to produce AIM-9X Sidewinder missiles, enhancing short-range missile defense capabilities.
In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/l/levered-free-cash-flow.asp">levered FCF</a> margin, RTX's 12.99% is 98.4% higher than the 6.55% industry average. Likewise, its 3.28% trailing-12-month Capex / Sales is 13.3% higher than the 2.89% industry average.
RTX's sales for the second quarter ending June 30, 2024, increased 7.7% from the year to $19.72 billion. Its adjusted net income attributable to common shareholders remained flat year-over-year at $1.90 billion, while its EPS rose 9.3% year-over-year to $1.41. Additionally, the company's free cash flow increased significantly from the previous year to $2.20 billion.
Street expects RTX's EPS and revenue for the quarter ended September 30, 2024, to increase 7.1% and 47.2% year-over-year to $1.34 and $19.82 billion, respectively. It surpassed the Street EPS estimates in each of the trailing four quarters. The stock has gained 70.2% over the past year to close the last trading session at $125.75.
RTX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect strong fundamentals. It has an overall rating of B, translating to a Buy in our proprietary system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #19 out of 73 stocks in the <a href="https://stocknews.com/category/air-defense/">Air/Defense Services</a> industry. It has a B grade for Growth, Momentum, and Sentiment. To see RTX's Value, Stability, and Quality ratings, <a href="https://stocknews.com/stock/RTX/">click here</a>.
Stryker Corporation (<a href="https://stocknews.com/stock/SYK/">SYK</a>)
SYK operates as a medical technology company. The company operates through two segments: MedSurg and Neurotechnology, and Orthopaedics and Spine.
On October 1, 2024, SYK completed the acquisition of Vertos Medical, enhancing its non-surgical interventional pain management solutions for chronic lower back pain.
Andy Pierce, Group President of MedSurg and Neurotechnology, at SYK, said, "The acquisition of Vertos Medical enhances our unique, non-surgical solutions for interventionalists addressing chronic lower back pain, while broadening our presence in ambulatory surgery centers."
On August 17, 2024, SYK completed its acquisition of care.ai, expanding its healthcare IT offerings with AI-assisted virtual care and smart room technology solutions.
In terms of the trailing-12-month EBIT margin, SYK's 20.71% is 679.3% higher than the 2.66% industry average. Similarly, its 0.56x trailing-12-month asset turnover ratio is 35.9% higher than the 0.41x industry average. Moreover, its 10.29% trailing-12-month levered FCF margin is 639.8% higher than the 1.39% industry average.
In the second quarter that ended on June 30, 2024, SYK's net sales increased 8.5% year-over-year to $5.42 billion. Likewise, its adjusted gross profit grew 9.1% from the year-ago value to $3.48 billion.
SYK's adjusted operating income was $1.33 billion, an increase of 9.7% from the previous year's period. In addition, the company's net earnings and adjusted EPS amounted to $1.09 billion and $2.81, up 11.2% and 10.6% year-over-year, respectively.
For the quarter ended September 30, 2024, SYK's EPS and revenue are expected to increase 12.7% and 9.5% year-over-year to $2.77 and $5.37 billion, respectively. SYK surpassed consensus EPS estimates in each of the trailing four quarters. Over the past year, the stock has gained 33.8% to close the last trading session at $359.73.
SYK's positive outlook is reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
SYK has a B grade for Growth, Stability, and Sentiment. It is ranked #30 out of 135 stocks in the <a href="https://stocknews.com/category/medical-devices-equipment/">Medical - Devices &amp; Equipment</a> industry. <a href="https://stocknews.com/stock/SYK/">Click here</a> to access additional ratings of SYK for Value, Momentum, and Quality.
Medtronic plc (<a href="https://stocknews.com/stock/MDT/">MDT</a>)
Headquartered in Dublin, Ireland, Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and The Diabetes Operating Unit segment.
On September 25, 2024, MDT announced the commercial launch of new technologies in its AiBLE spine surgery ecosystem, including software, hardware, and imaging advancements. The company also unveiled a partnership with Siemens Healthineers to integrate advanced imaging solutions for spine care.
On August 7, 2024, MDT announced FDA approval of its Simplera continuous glucose monitor (CGM) and a global partnership with Abbott to expand CGM offerings for diabetes management. This partnership will integrate Abbott's CGM technology with MDT's insulin delivery systems.
In terms of the trailing-12-month gross profit margin, MDT's 65.52% is 13.6% higher than the 57.66% industry average. Its 27.67% trailing-12-month EBITDA margin is 338.3% higher than the 6.31% industry average. Likewise, the stock's 19.57% trailing-12-month EBIT margin is 636.4% higher than the 2.66% industry average.
MDT's net sales for its first quarter ended July 26, 2024, increased 2.8% from the prior-year period to $7.92 billion. The company's non-GAAP operating profit grew 2.3% over the prior-year quarter to $1.95 billion. In addition, its attributable net income rose 31.7% from the year-ago value to $1.04 billion, and its non-GAAP EPS stood at $1.23, up 2.5% year-over-year.
Analysts expect MDT's revenue for the quarter ending October 31, 2024, to increase 3.7% year-over-year to $8.28 billion. Its EPS for the quarter ending January 31, 2025, is expected to grow 5.5% year-over-year to $1.37. It surpassed the Street EPS estimates in each of the trailing four quarters. Over the past year, the stock has gained 23.3% to close the last trading session at $89.79.
MDT's POWR Ratings reflect robust prospects. It has an overall rating of B, which translates to a Buy in our proprietary rating system.
It is ranked #16 in the Medical - Devices &amp; Equipment industry. It has a B grade for Stability and Sentiment. <a href="https://stocknews.com/stock/MDT/">Click here</a> to see MDT's Growth, Value, Momentum, and Quality ratings.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
RTX shares were trading at $126.03 per share on Friday afternoon, up $0.28 (+0.22%). Year-to-date, RTX has gained 52.49%, versus a 24.08% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/rtx-syk-mdt-3-robotics-stocks-powering-the-automation-revolution/>3 Robotics Stocks Powering the Automation Revolution</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Robotics Stocks Powering the Automation Revolution

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