Why RTX (RTX) Stock Is Trading Up Today
What Happened:
Shares of aerospace and defense company Raytheon (NYSE:RTX) jumped 10% in the afternoon session after the company reported a "beat and raise" quarter. RTX blew past analysts' organic revenue expectations. Its revenue also outperformed Wall Street's estimates. That the company raised full year revenue and EPS expectations is icing on the cake. Overall, we think this was a really good quarter that should please shareholders.
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What is the market telling us:
RTX's shares are not very volatile than the market average and over the last year have had only 3 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
RTX is up 33.2% since the beginning of the year, and at $113.50 per share, has set a new 52-week high. Investors who bought $1,000 worth of RTX's shares 5 years ago would now be looking at an investment worth $832.36.
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