Key Highlights

  • RTX closed at $183.64 on June 15, up just 0.06%, with a market capitalisation of approximately $247.3 billion.
  • Raytheon's backlog stood at a record $271 billion, with a book-to-bill ratio of 1.5 times as of the latest quarter.
  • RTX's 52-week range spans $140.47 to $214.50, with a P/E of 34.45, EPS of $5.33, and dividend yield of 1.51%.
  • Consensus average price target of $211.38 implies roughly 15% upside from current levels.

RTX Corporation closed at $183.64 on June 15, gaining just 0.06% and holding broadly flat as the wider industrials sector advanced on a global risk-on rally. The muted session reflected the stock's dual nature, with defence demand tailwinds potentially moderating as geopolitical tensions ease following a preliminary US-Iran peace deal that reopened the Strait of Hormuz.

The macro backdrop that lifted the broader market cut both ways for RTX. While the S&P 500 rose roughly 1.7% and the XLI industrials ETF approached its 52-week high, RTX's defence revenue base is partly driven by elevated geopolitical risk. Raytheon's record backlog of $271 billion and a 1.5 times book-to-bill ratio reflect strong recent demand, but investors are assessing how an easing conflict environment could affect the pace of new order flow in coming quarters.

RTX operates across three segments, Collins Aerospace, Pratt and Whitney, and Raytheon, with an unusually even split between commercial aerospace and defence revenue. The company reported Q1 EPS of $1.78 against estimates of $1.52, with revenue growing approximately 8.7% year-on-year. Total sales for full-year 2024 reached approximately $80.7 billion, supported by a backlog of $236 billion as of Q2 2025.

The company carries a market capitalisation of approximately $247.3 billion, a figure that remains a fraction of SpaceX's valuation following its Nasdaq debut. SpaceX's entry into aerospace and industrials index classifications forces passive funds tracking those benchmarks to incorporate its new weighting, with legacy primes including RTX representing a natural source of funds in any sector rebalancing exercise.

Analyst sentiment on RTX remains constructive. DBS Bank and Jefferies have both upgraded the stock recently, and the consensus carries a Moderate Buy rating with an average price target of approximately $211.38, implying roughly 15% upside from current levels. The 52-week range of $140.47 to $214.50 puts current shares near the lower portion of recent trading history.

RTX's dividend yield of 1.51% provides income support for long-term holders, and projected 2025 adjusted sales of $84.75 billion to $85.5 billion signal continued revenue growth across both commercial and defence segments, with margin expansion driven by supply chain efficiency and operational investments.