Is RTX Corporation Stock a Buy?
It's been a tough year for defense and aerospace company RTX Corporation (NYSE: RTX) -- formerly known as Raytheon Technologies. The stock has not only trailed the S 500 over the past 12 months, but shares are down more than 10%.
The company incurred a $5.4 billion charge on revenue and a $2.9 billion hit to its operating profit in its third quarter due to a metal defect that impacted its aircraft engines. No shareholder likes to see billions of dollars go out the window, but this short-term impact may have created an opportunity for long-term investors.
A closer look at RTX's business shows a company poised to thrive, and the stock's valuation doesn't appropriately reflect that prospect. Here is why investors should consider buying RTX stock today.
Source Fool.com
