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    RTX Corp (RTX)

    RTX Corporation is a global aerospace and defense company that operates through three principal business segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The company provides advanced aerospace and defense products and aftermarket service solutions for civil and military aircraft manufacturers, commercial airlines, and defense and commercial space operations . RTX sells electric power systems, environmental control systems, flight control systems, integrated avionics, aircraft engines, and advanced capabilities in integrated air and missile defense, smart weapons, missiles, and advanced sensors .

    1. Collins Aerospace - Provides advanced aerospace and defense products and aftermarket service solutions for civil and military aircraft manufacturers, commercial airlines, and defense and commercial space operations. Offerings include electric power systems, environmental control systems, flight control systems, and integrated avionics .

    2. Pratt & Whitney - Supplies aircraft engines for commercial, military, business jet, and general aviation customers. Produces engines for wide- and narrow-body aircraft and military aircraft such as the F-35 Lightning II .

    3. Raytheon - Delivers advanced capabilities in integrated air and missile defense, smart weapons, missiles, and advanced sensors for U.S. and foreign government and commercial customers .

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    NamePositionExternal RolesShort Bio

    Christopher T. Calio

    ExecutiveBoard

    President & CEO, Chairman (from April 30, 2025)

    None

    Christopher T. Calio became CEO on May 2, 2024, after serving as COO and President. He has been with RTX since 2005 and has held various leadership roles, including President of Pratt & Whitney.

    View Report →

    Amy L. Johnson

    Executive

    Corporate VP & Controller

    None

    Amy L. Johnson has been Corporate VP & Controller since September 2021. She oversees financial reporting and internal controls. Previously held finance leadership roles at Pratt & Whitney.

    Dantaya M. Williams

    Executive

    EVP & CHRO

    None

    Dantaya M. Williams has been EVP & CHRO since June 2020. She oversees RTX's human resources strategy, including workforce development and DE&I initiatives.

    Neil G. Mitchill, Jr.

    Executive

    EVP & CFO

    None

    Neil G. Mitchill, Jr. has been CFO since April 2021. He oversees RTX's financial strategy, including capital allocation and financial reporting. Previously held senior finance roles at Pratt & Whitney and UTC.

    Philip J. Jasper

    Executive

    President, Raytheon

    None

    Philip J. Jasper became President of Raytheon in January 2024. He has over 30 years of experience at RTX, previously leading Collins Aerospace's Mission Systems business unit.

    Shane G. Eddy

    Executive

    President, Pratt & Whitney

    None

    Shane G. Eddy has been President of Pratt & Whitney since March 2022. He focuses on engine production and sustainable propulsion technologies. Previously served as COO of Pratt & Whitney.

    Troy Brunk

    Executive

    President, Collins Aerospace

    None

    Troy Brunk became President of Collins Aerospace in July 2024. He has over 30 years of experience at RTX, previously leading multiple business units within Collins Aerospace.

    Brian C. Rogers

    Board

    Independent Director

    Lowe’s Companies, Brookings Institution, Harvard Management Company, Johns Hopkins Medicine

    Brian C. Rogers has been a director since 2016. He brings financial and investment expertise from his career at T. Rowe Price, where he served as Chairman and CIO.

    Fredric G. Reynolds

    Board

    Independent Lead Director

    Pinterest, Inc.

    Fredric G. Reynolds has been a director since 2016 and became Lead Director in December 2023. He brings financial and risk management expertise from his career at CBS Corporation and Viacom.

    Leanne G. Caret

    Board

    Independent Director

    Deere & Company, FIRST, George W. Bush Institute Women’s Initiative, Kansas State University Foundation, USO Board of Governors, AIAA, Royal Aeronautical Society

    Leanne G. Caret joined the RTX Board in January 2023. She brings extensive aerospace and defense expertise from her career at Boeing, where she served as President & CEO of Defense, Space & Security.

    Robert O. Work

    Board

    Independent Director

    Govini, SparkCognition Government Services, System High

    Robert O. Work has been a director since 2020. He brings defense and national security expertise from his roles as Deputy Secretary of Defense and Undersecretary of the Navy.

    Tracy A. Atkinson

    Board

    Independent Director

    Citizens Financial Group, United States Steel Corporation, Affiliated Managers Group

    Tracy A. Atkinson has been a director since 2020. She chairs the Human Capital & Compensation Committee and brings financial and risk management expertise from her career at State Street Corporation.

    1. Given the challenges in the airborne and space systems leading to slower growth, can you elaborate on the specific strategies you're implementing to strengthen these areas, and what is the expected time frame for seeing tangible results?
    2. With the ongoing evaluation of your space business portfolio, how do you plan to address unprofitable segments, and what criteria will determine whether you invest further or exit these markets?
    3. Considering the importance of your GTF fleet management plan and the progress of powdered metal inspections, how confident are you in your current assumptions about fallout rates and financial impacts, and what potential risks could alter your outlook?
    4. As new defense technology companies gain traction, such as Palantir, how does RTX plan to stay competitive, and do you see these companies as competitive threats or potential partners?
    5. With the expectation of flat commercial OE at Collins and reliance on restarting shipments to Boeing, what contingency plans are in place if shipments don't resume as expected, and how will this affect your growth projections?
    Program DetailsProgram 1Program 2
    Approval DateOctober 21, 2023 October 24, 2023
    End Date/DurationN/ASettled in September 2024
    Total additional amount$11 billion $10 billion
    Remaining authorization$0.7 billion N/A
    DetailsReplaces December 2022 program; part of a $36-$37 billion capital return commitment through 2025 Fully executed ASR agreements
    CustomerRelationshipSegmentDetails

    U.S. Government

    Defense prime/subcontractor (largest customer)

    All

    Accounted for 40% of total net sales in 2024 ($32,246 million).

    Airbus

    Largest commercial customer for Pratt & Whitney (GTF engine programs)

    Pratt & Whitney

    Accounted for 31% of Pratt & Whitney’s total segment sales in 2024.

    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP1947 PresentCurrent auditor

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    FlightAware

    2021

    RTX acquired FlightAware, a digital aviation company that operates flight tracking and data platforms, to integrate its capabilities into the Collins Aerospace segment, enhancing digital aviation services such as health monitoring, diagnostics, and prognostics. The deal, agreed upon on August 30, 2021, was part of a combined $1.0 billion cash outlay (with SEAKR Engineering) and was subject to customary closing conditions, including regulatory approvals.

    SEAKR Engineering

    2021

    RTX acquired SEAKR Engineering, Inc., a supplier of advanced space electronics, to bolster its space-based capabilities within the Raytheon Intelligence & Space segment and improve the reliability of satellite bus hardware and customized space electronics. This strategic bolt-on acquisition, aimed at filling key technology gaps, was executed as part of the broader transaction with expected combined cash outflows of approximately $1.0 billion, subject to standard closing conditions and regulatory approvals.

    Recent press releases and 8-K filings for RTX.

    RTX reports Q2 2025 results
    $RTX
    Earnings
    Guidance Update
    Dividends
    • RTX delivered $21.6 billion in Q2 adjusted sales, up 9% organically, with segment operating profit of $2.7 billion, and a backlog of $236 billion (book-to-bill of 1.86).
    • Free cash flow was breakeven, impacted by a four-week Pratt & Whitney work stoppage; full-year FCF outlook maintained at $7 – 7.5 billion.
    • Full-year adjusted sales guidance raised to $84.75 – 85.5 billion (6 – 7% organic growth); adjusted EPS outlook narrowed to $5.80 – 5.95 reflecting tariff headwinds and cost discipline.
    • Net tariff cost outlook improved to $500 million (from $850 million), with a $600 million cash impact, supported by USMCA coverage and pricing actions.
    • Portfolio moves include sale of Simmons Precision Products for $765 million and the actuation business for $1.8 billion, alongside an 8% dividend increase.
    Jul 22, 2025, 12:30 PM
    RTX positioned to benefit from rising defense budgets
    $RTX
    New Projects/Investments
    M&A
    • Citi is most constructive on defense names such as RTX, citing rising U.S. and European budgets that enhance visibility and support margin expansion as underperforming programs wrap up and new contracts commence.
    • The U.S. defense policy priorities on air and missile defense designate RTX as a key beneficiary alongside Northrop Grumman, driven by increased funding under the 2025 budget and FY 2026 NDAA markup.
    • European defense spending is forecast to rise from ~2–2.5% to 3.5% of GDP (5% including infrastructure), likely boosting international sales of U.S. missile systems and fifth-generation fighters like the F-35, benefiting RTX.
    • Private defense‐tech M&A is active, but large‐cap companies like RTX would require confidence in revenue pull-through at current valuations before pursuing acquisitions.
    Jul 18, 2025, 9:02 PM
    RTX sees strong aerospace repair demand ahead of Tuesday earnings
    $RTX
    • Analyst recommends considering RTX stock ahead of Tuesday earnings.
    • Strong aerospace repair demand has resulted in a massive backlog at RTX.
    Jul 18, 2025, 5:24 PM
    RTX awarded $74M U.S. Navy RAM missile system contract
    $RTX
    New Projects/Investments
    • Raytheon, an RTX business, secured a $74 million contract to produce RAM Guided Missile Launching Systems for the U.S. Navy.
    • The deal represents the largest single order of U.S. RAM launchers in over 20 years, covering new systems, refurbishments, upgrades and spares.
    • Work will be based in Louisville, Kentucky, and is scheduled for completion by 2028.
    • The RAM system is deployed on 165+ ships across 11 countries and is being integrated into new U.S. Navy ship classes, including Arleigh Burke destroyers.
    Jul 14, 2025, 12:00 PM
    RTX GTF Engines: Major Airline Deals, Maintenance Agreements & Engine Upgrades
    $RTX
    New Projects/Investments
    Product Launch
    • Frontier Airlines orders 91 Pratt & Whitney GTF™ engines for its Airbus A321neo fleet with first deliveries in Q4 2026, raising its total commitment to 235 GTF-powered A320neo family aircraft under a long-term EngineWise® Comprehensive service agreement .
    • Wizz Air orders 177 Pratt & Whitney PW1100G-JM GTF engines for its Airbus A321neo fleet, bringing its GTF-powered aircraft count to 453 and advancing its goal for a 500-aircraft fleet within a decade focused on fuel efficiency and reduced emissions .
    • RTX inks a 12-year EngineWise® maintenance agreement with Cebu Pacific, covering engines for up to 152 A321neo and 15 A320neo family aircraft, delivering up to 20% fuel burn reduction .
    • Introducing the Hot Section Plus (HS+) upgrade for the PW1100G-JM engine, which delivers 90–95% of the GTF Advantage’s durability improvements and nearly double time on wing, with installations beginning in 2026 .
    • Pratt & Whitney expands its GTF MRO network with the addition of ITP Aero as the 21st global and eighth European facility, supporting MRO and testing for PW1500G and PW1900G engines for the Airbus A220 and Embraer E-Jets E2 .
    RTX Corp Reviews Strategic Priorities and Operational Updates
    $RTX
    New Projects/Investments
    Revenue Acceleration/Inflection
    • $217 billion backlog and a focus on execution, innovation and talent were highlighted as key drivers to meet customer demand across commercial and defense segments.
    • The CEO detailed initiatives aimed at achieving 12%+ margins in the Raytheon business through supply chain efficiencies and a growing share of international orders.
    • Resolution of the Pratt & Whitney work stoppage and progress in addressing GTF engine challenges—with improved MRO output—were noted as critical operational updates.
    May 29, 2025, 8:16 AM
    RTX: Wizz Air Receives First GTF-Powered A321XLR Aircraft
    $RTX
    New Projects/Investments
    • Wizz Air takes delivery of its first Airbus A321XLR powered by RTX’s Pratt & Whitney GTF engines, marking a key milestone in engine deployment.
    • The delivery positions Wizz Air as the first operator of the GTF-powered A321XLR, with 47 additional aircraft on order and a substantial existing fleet operated with GTF and IAE V2500 engines.
    May 20, 2025, 4:23 PM
    RTX Delivers 250th RAM Launcher to U.S. Navy
    $RTX
    New Projects/Investments
    • Raytheon, an RTX business, announced the delivery of its 250th RAM MK49 Guided-Missile Launching System (GMLS) to the U.S. Navy, marking a significant milestone.
    • The launcher will be deployed on the USS Pittsburgh, a new San Antonio-class amphibious transport dock, under a bilateral partnership with RAM-Systems GmbH.
    • The release highlights ongoing modernization efforts, including a doubling of production capacity at Raytheon’s GMLS manufacturing facilities to meet global demand.
    May 19, 2025, 12:00 PM
    RTX: Awarded $580M Production Contract for NGJ Mid-Band
    $RTX
    New Projects/Investments
    • Raytheon, an RTX business, secured a $580 million follow-on production contract from the U.S. Navy for the Next Generation Jammer Mid-Band system, enhancing its electronic attack capabilities.
    • The contract includes the production of additional NGJ-MB pod shipsets—serving both the U.S. Navy and the Royal Australian Air Force—and spans multiple U.S. locations through 2028.
    May 16, 2025, 6:00 PM
    RTX Corp Announces 2025 Annual Meeting Vote Outcomes
    $RTX
    Proxy Vote Outcomes
    • RTX Corp filed an 8-K report dated May 5, 2025, which provides key details from its 2025 Annual Meeting of Shareowners held on May 1, 2025.
    • The report presents detailed voting results on proposals including director elections, executive compensation, the appointment of the independent auditor, and a shareowner proposal on lobbying transparency.
    May 5, 2025, 12:00 AM