# RTX earnings beat, rising backlog and outlook

> Live situation record from CLSTR: https://clstr.news/situations/institutional-investors-adjust-rtx-holdings
> Updated: 2026-08-21T10:09:28.000Z. Sources: 9. Developments: 6.

RTX’s institutional ownership continued to shift in early June 2026. O Shaughnessy Asset Management cut its stake by roughly 8% to 486,952 shares, while ING Groep boosted its holding by 79% to 309,675 shares. Jefferies upgraded RTX to a buy and lifted its price target to $220, citing improving margins and growth in both defense and commercial aerospace. The company also secured a $515 million U.S. Navy contract for SPY-6 radar systems and opened a new landing-gear production line in Poland.

A week later the stock rose 1.28% to $189.73, outperforming the broader market. Analysts projected first-quarter EPS of $1.66 and revenue of $22.9 billion, and full-year consensus forecasts of $6.91 EPS on $93.9 billion revenue, reinforcing expectations of continued outperformance.

In mid-July, Journey Advisory Group again increased its stake by 116.8% to 26,731 shares, and other large investors such as Norges Bank and Vanguard maintained sizable positions. RTX reported Q1 EPS of $1.78 and a $0.73 dividend, confirming the earlier earnings beat.

By early August, shares climbed to $222.37 following a Q2 earnings beat where the company reported EPS of $1.89 on $24.71 billion in revenue. This prompted several analyst upgrades, including price targets from TD Cowen ($240), Jefferies ($250), Argus ($245), and Robert W. Baird ($240), resulting in a consensus “moderate buy” rating.

In late August, RTX reported a significant order backlog of approximately $289 billion across its commercial aerospace and defense sectors. Consequently, management upgraded its adjusted 2026 sales estimate to between $95 billion and $96 billion. Institutional interest remains high, with hedge funds and investors holding 86.50% of the stock, including a recent acquisition of 41,273 shares by Mystic Asset Management Inc.

## Timeline

### 2026-08-21: RTX Corporation reports $289 billion backlog amid rising institutional interest

RTX Corporation reports a $289 billion backlog driven by aerospace and defense orders, while institutional investors like Mystic Asset Management increase their stakes.

3 sources. https://clstr.news/cluster/rtx-corporation-reports-289-billion-backlog-amid-rising-institutional-interest

### 2026-08-04: RTX Corp shares rise 2% after earnings beat and analyst upgrades

RTX shares rose 2% to $222.37 after the company beat earnings expectations, posted $24.71 B revenue and saw multiple analysts raise price targets.

3 sources. https://clstr.news/cluster/rtx-corp-shares-rise-2-after-earnings-beat-and-analyst-upgrades

### 2026-07-23: RTX posts strong Q2 2026 earnings and lifts 2026 revenue target

RTX posted Q2 2026 revenue of $24.7 bn (+14 %), profit of $2.58 bn (+29 %) and raised its 2026 outlook to $95‑$96 bn revenue and $7.10‑$7.35 EPS.

2 sources. https://clstr.news/cluster/rtx-posts-strong-q2-2026-earnings-and-lifts-2026-revenue-target

### 2026-07-15: RTX and Noodles & Company See Institutional Share Moves Ahead of Earnings

RTX saw a 116.8% stake increase by Journey Advisory Group and other institutions hold large positions as its stock rose to $195.84; Noodles & Company will release Q2 2026 earnings on July 24, with analysts fore

3 sources. https://clstr.news/cluster/rtx-and-noodles-company-see-institutional-share-moves-ahead-of-earnings

### 2026-06-29: RTX Corp Shares Surge Ahead of Strong Earnings Outlook

RTX shares rose 1.28% to $189.73, beating the S&P 500, as analysts forecast a $1.66 EPS and $22.9 bn revenue for the quarter, with a Zacks #2 (Buy) rating.

2 sources. https://clstr.news/cluster/rtx-corp-shares-surge-ahead-of-strong-earnings-outlook

### 2026-06-07: RTX gains institutional stake shifts and analyst upgrades

Institutional investors reshuffled stakes in RTX, with ING boosting and O Shaughnessy cutting holdings. Jefferies upgraded RTX to buy, raising the price target to $220 amid strong defense and aerospace growth.

2 sources. https://clstr.news/cluster/rtx-gains-institutional-stake-shifts-and-analyst-upgrades

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Cite as: RTX earnings beat, rising backlog and outlook. CLSTR, https://clstr.news/situations/institutional-investors-adjust-rtx-holdings