RTX Corporation (NYSE: RTX) shares traded little changed Thursday as a wave of new business developments competed with a fresh analyst price target reduction.
Bernstein maintained a Market Perform rating on RTX but trimmed its price target to $223 from $232, adding downward pressure on investor sentiment.
Despite the cut, RTX carries a Buy consensus rating across Wall Street, with an average analyst price target of $231.13.
On the operational front, 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’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 model.
“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.
Pratt & Whitney plans to transition its entire PW1100G-JM production line to the Advantage specification by 2028, signaling a significant long-term manufacturing shift.
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 the majority of maintenance, repair, and overhaul work under that new agreement.
RTX’s Collins Aerospace division also signed three multi-year agreements with ST Engineering on September 23, expanding Boeing 787 component repairs, Collins spare-parts support, and lifecycle repairs for Airbus A320 and Boeing 737 components.
From a technical standpoint, RTX shares at $192.25 sit 3.8% below the 20-day simple moving average of $199.86 and 7.5% below the 50-day SMA of $207.89.
The stock remains close to its longer-term trend, trading just 1.2% below its 200-day SMA of $194.51 but holding above the 200-day exponential moving average of $191.10.
The MACD indicator remains below its signal line with a negative histogram, pointing to continued near-term weakness in momentum.
Resistance sits near $226.50, close to the 52-week high of $226.88, while technical support is seen near $172.
RTX is a major holding in the Corgi Aerospace & Commercial Aviation ETF at 9.95%, the Invesco Aerospace & Defense ETF at 8.21%, and the Corgi U.S. War Machine ETF at 5.09%.
RTX shares were down 0.15% at $191.90 during premarket trading Thursday, according to Benzinga Pro data.
