RTX Corporation (NYSE:RTX) stock was little changed Thursday as fresh Pratt & Whitney and Collins Aerospace developments competed with a price-forecast cut from Bernstein for investor attention.
Pratt & Whitney Marks GTF Advantage Milestone
RTX subsidiary Pratt & Whitney delivered the first aircraft powered by its new GTF Advantage engine to United Airlines Holdings Inc. (NASDAQ:UAL), marking the engine standard’s commercial debut.
United received an Airbus A321XLR equipped with GTF Advantage engines, which Pratt & Whitney said offer up to twice the time on wing and 4% to 8% more takeoff thrust than the current GTF.
Pratt & Whitney plans to transition its entire PW1100G-JM production line to the Advantage specification by 2028.
“The first delivery of a GTF Advantage-powered aircraft to United Airlines signifies a new chapter in our relationship that spans nearly a century,” said Rick Deurloo, president of Commercial Engines at Pratt & Whitney.
RTX Expands Aerospace Partnerships
Pratt & Whitney Canada separately signed a four-year maintenance agreement with AirBorneo Airways covering PW127M engines powering its ATR 72-500 fleet through 2030.
Pratt & Whitney Canada’s expanded Singapore facility will handle most maintenance, repair, and overhaul work.
RTX’s Collins Aerospace also signed three multi-year agreements with ST Engineering on Sept. 23, expanding Boeing 787 component repairs, Collins spare-parts support, and lifecycle repairs for Airbus A320 and Boeing 737 components.
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Bernstein Cuts Price Target
On Sept. 23, Bernstein maintained a Market Perform rating on RTX while cutting its price target to $223 from $232.
The stock carries a Buy consensus with an average price target of $231.13.
RTX Technical Setup Remains Mixed
At $192.25, RTX trades 3.8% below its 20-day simple moving average of $199.86 and 7.5% below its 50-day SMA of $207.89, pointing to weaker near-term momentum.
The stock remains near its longer-term trend, trading 1.2% below its 200-day SMA of $194.51 but above its 200-day exponential moving average of $191.10.
MACD remains below its signal line with a negative histogram.
Resistance sits near $226.50, close to the 52-week high of $226.88, while support stands near $172.
RTX is also a major holding in the Corgi Aerospace & Commercial Aviation ETF (9.95%), the Invesco Aerospace & Defense ETF (8.21%), and the Corgi U.S. War Machine ETF (5.09%).
Price Action
RTX Stock Price Activity: RTX shares were down 0.15% at $191.90 during premarket trading on Thursday, according to Benzinga Pro data.
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