RTX (RTX) stock is soaring today after the aerospace and defense company said it’s ready to support President Donald Trump’s plan to create an “Iron Dome for America.” Trump wants to establish a defense system for the country similar to Israel’s Iron Dome. RTX favors this plan, seeing it as “a tremendous system.”
It makes sense that RTX is supportive of President Trump’s ambitions to create a new Iron Dome. The aerospace and defense company is already involved in the ongoing support Israel needs to maintain its own Iron Dome. However, the one in the U.S. would be a bit different as Trump wants interceptors deployed in space to counter incoming missiles. While it’s a different plan, RTX Chief Financial Officer Neil Mitchill said “This is what Raytheon is exceptionally good at doing.”
President Trump’s interest in an Iron Dome for America comes at a time when he’s making enemies out of several countries. That’s fueled by threats to introduce tariffs on Canada and Mexico, as well as an intensifying trade war with China. These conflicts are currently economic but Trump’s call for an Iron Dome might mean he expects them to spark a war, or it’s another of his bargaining tactics.
What This Means for RTX Stock Today
RTX investors are excited about the prospect of the company working alongside President Trump on a new Iron Dome. This has RTX stock up 2.42% as of this writing, building on its 10.47% year-to-date increase. It also comes as 4.18 million shares traded, closing in on its three-month daily average of 4.25 million shares. Finally, traders will note RTX shares have gained 45.6% over the last year.
Is RTX Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for RTX is Moderate Buy based on seven Buy and three Hold ratings over the last three months. With that comes an average price target of $139.90, a high of $153, and a low of $130. This represents a potential 9.25% upside for RTX shares.
