Collins Aerospace, an RTX business, has successfully completed prototype development of a solid-state power controller and power distribution panel for the SWITCH project, a key initiative in the European Union’s Clean Aviation Joint Undertaking. These megawatt-class components will be crucial in enabling hybrid-electric propulsion systems, paving the way for a sustainable future in aviation.
RTX Corporation, previously known as Raytheon Technologies, reported impressive first-quarter results, surpassing expectations on both revenue and earnings. Despite facing challenges with its GTF engine program, the company’s sales grew by 12%, led by strong performance in its Collins Aerospace and Pratt & Whitney segments. Adjusted earnings per share increased by 10%, while GAAP EPS surged by 32%. The company expects continued growth in the coming years, with organic sales growth in all segments and a positive earnings outlook. Analysts remain bullish on RTX stock, citing its strong backlog and demand in commercial and military end markets. Despite near-term pressures related to the GTF engine replacements, RTX remains a promising investment with a $125 price target for 2024.
