RTX Corp. (RTX) Soars on Double-Digit Earnings Growth

We recently published 10 Stocks Leaving Wall Street in the Dust. RTX Corporation (NYSE:RTX) is one of the best performers on Tuesday.

RTX Corporation rallied to a new all-time high on Tuesday, adding 7.67 percent to close at $173.04 apiece as investor sentiment was fueled by a double-digit jump in third-quarter earnings, coupled with a higher growth outlook for the full-year period.

In an updated report, RTX Corporation (NYSE:RTX) said net income jumped by 30 percent to $1.918 billion from $1.472 billion in the same period last year, while sales increased by 12 percent to $22.478 billion from $20.089 billion year-on-year.

Amid the strong results, RTX Corporation (NYSE:RTX) raised its full-year sales guidance to $86.5 billion to $87 billion, from the $84.75 billion to $85.5 billion previously.

“Strong execution in the third quarter enabled us to deliver double-digit organic sales growth across all three segments and our sixth consecutive quarter of year-over-year adjusted segment margin expansion,” said Chairman and CEO Chris Calio.

He said that the company would focus on executing its $251 billion backlog, alongside investing in next-generation products and services that meet the needs of its customers.

While we acknowledge the potential of RTX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.