Company Overview - RTX Corporation (RTX) has a market cap of $269.9 billion and operates in the aerospace and defense sector, serving commercial, military, and government customers through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon [1] Stock Performance - RTX shares have significantly outperformed the broader market over the past 52 weeks, with a 56.5% increase compared to a 16.1% rise in the S&P 500 Index [2] - Year-to-date, RTX stock is up 9.5%, while the S&P 500 has only risen by 1.9% [2] - The stock has also outpaced the State Street Industrial Select Sector SPDR ETF (XLI), which returned 18.8% over the same period [3] Financial Performance - On January 27, RTX reported Q4 2025 adjusted EPS of $1.55 and revenue of $24.24 billion, both exceeding forecasts [4] - The company generated free cash flow of $3.2 billion for Q4 and $7.9 billion for the full year 2025, marking a $3.4 billion increase year-over-year [4] - For 2026, RTX projects adjusted EPS guidance of $6.60 - $6.80 and free cash flow of $8.25 billion - $8.75 billion [4] Analyst Expectations - Analysts expect RTX's adjusted EPS to grow 6% year-over-year to $6.67 for the fiscal year ending in December 2026 [5] - RTX has a strong earnings surprise history, having topped consensus estimates in the last four quarters [5] - Among 22 analysts covering the stock, the consensus rating is a "Moderate Buy," with 13 "Strong Buy" ratings, one "Moderate Buy," and eight "Holds" [5] Price Target - UBS analyst Gavin Parsons raised RTX's price target to $208 while maintaining a "Neutral" rating [6] - The stock is currently trading above the mean price target of $201.86, with a Street-high price target of $230 suggesting a 12.4% potential upside [7]

PresentationGood morning, everyone. My name is Peter Arment, senior aerospace and defense analyst here at Baird. We are delighted to have RTX joining us this morning. From RTX, we have Neil Mitchill, the Chief Financial Officer and Executive Vice President. Neil, welcome.Neil is going to make a couple of opening comments, and then we're going to jump into some Q&A. So thanks again, Neil, welcome.Neil MitchillExecutive VP & CFO Yes. Thank you, Peter. I'm looking forward to it, and good morning, everybody. Fi ...