Why RTX Stock Continues to Fall
(NYSE: RTX) stock has been on a downward trend since the company outlined the expected financial consequences of issues with one of its most popular aircraft engines. After the decline some investors might be thinking this is a buying opportunity, but at least one Wall Street analyst is warning against it.
Shares of RTX fell more than 2% on Thursday morning as would-be buyers continue to shy away from the aerospace giant.
RTX, which until recently was known as Raytheon Technologies, has a massive array of defense and commercial aerospace businesses including Pratt Whitney jet engines. In July, the company discovered a problem with its PW1100G-JM engine that powers the Airbus A320neo, and this week revealed that the issues would lead to billions in charges and lost free cash flow.
Source Fool.com
