10 Stocks That Could 10X Over the Next 5 Years

2) RTX Corporation (NYSE:RTX)

Number of Hedge Fund Holders: 54

RTX Corporation (NYSE:RTX) offers systems and services for commercial, military, and government customers in the US and internationally.

RTX Corporation (NYSE:RTX) remains optimistic about aligning its business model with airframers to better serve customers and address profit driver misalignment in the upcoming programs. Despite the challenges in product costs and supply chain, it continues to make strides in its GTF engine program and align its initiatives with customer needs and market demands. Collectively, these measures are expected to support the company’s stock price over the next 3-5 years.

In the recent earnings, RTX Corporation (NYSE:RTX)’s management highlighted its substantial backlog, which totalled $206 billion. It also commented that there remains robust demand for its offerings. RTX Corporation (NYSE:RTX) continues to concentrate on fulfilling customer commitments, fueled by its CORE operating system, which enables efficient execution and management of operations. Raytheon, an RTX Corporation (NYSE:RTX) business, was awarded a $736 million contract from the US Navy to produce AIM-9X® SIDEWINDER® missiles.

RTX Corporation (NYSE:RTX) raised its FY 2024 outlook, with adjusted sales expected to come in the range of $78.75 billion – $79.5 billion, up from $78.0 billion – $79.0 billion. It expects adjusted EPS of between $5.35 – $5.45, up from $5.25 – $5.40.

Analysts at Susquehanna upped their target price on the shares of RTX Corporation (NYSE:RTX) from $119.00 to $140.00, giving a “Positive” rating on 26^th July.