RTX Corporation (NYSE:RTX) ranks among the 14 safe stocks to buy now for a starter stock portfolio.
Following the US Department of Defense’s announcement that it had authorized Egypt’s $4.7 billion purchase of National Advanced Surface-to-Air Missile Systems (NASAMS), Jefferies reaffirmed its Hold rating and $225 price target for RTX Corporation on March 6. The transaction includes hundreds of missiles, scores of guidance units, and four AN/MPQ-64F1 Sentinel radar systems.
Additionally, through the end of the decade, the company’s Air Warfare Systems division, which also includes AMRAAM and Tomahawk, is expected to grow at a high single-digit rate.
According to Jefferies, each percentage point of growth in Air Warfare is equivalent to one cent toward 2027 earnings per share of $7.40, or 1% of the total.
RTX Corporation is a giant in the global aerospace and defense industry, providing systems and services to commercial, military, and government clients. It operates through three main businesses: Collins Aerospace, Pratt & Whitney, and Raytheon.
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