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TD Cowen maintains Buy on RTX Corp, reiterates $142 price target

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On Tuesday, TD Cowen expressed continued confidence in RTX Corp. (NYSE:RTX), maintaining a Buy rating and a price target of $142.00. The firm’s outlook was reinforced following MTU’s update on its C24 EBIT guidance, which was increased by approximately 5% due to robust third-quarter results. The improved guidance is partly attributed to the positive performance of Pratt & Whitney’s “Fleet Management Plan,” a program in which MTU is a significant partner with an 18% revenue share.

The analyst from TD Cowen anticipates that the recent developments at MTU will bode well for RTX Corp. as it approaches its third-quarter earnings report, scheduled for October 22. The analyst’s comments suggest that RTX Corp. is likely to experience a slight beat on its adjusted earnings per share (EPS) for the third quarter and could potentially raise its guidance for the calendar year 2024 (C24).

The collaboration between MTU and Pratt & Whitney, a division of RTX Corp., seems to be a key factor in the analyst’s positive outlook. MTU’s upward revision of its EBIT guidance reflects a strong quarter and increased confidence in ongoing projects, including the GTF “Fleet Management Plan.” This plan is designed to enhance the performance and maintenance of aircraft engines, which is crucial to both MTU and RTX Corp.’s aerospace business.

The analyst’s statement highlighted the significance of MTU’s announcement and its implications for RTX Corp.: “This morning, MTU raised its standing C24 EBIT guide by ~5% due to strong Q3 results, & presumably, incremental visibility/confidence in P&W’s GTF ‘Fleet Management Plan’ (where MTU is an ~18% RRSP partner; among many other P&W programs). This portends a favorable set-up for RTX into Q3’s print (reports 10/22), where we expect a slight Q3 adj. EPS beat & modest C24 guide raise.”

In other recent news, Raytheon Technologies (NYSE:) and Lockheed Martin (NYSE:), under the Javelin Joint Venture (JJV), have secured two contracts worth $267 million from the U.S. Army for the production of Lightweight Command Launch Units. The contracts will also benefit the armed forces of Estonia, Latvia, and Lithuania. The newly developed units offer advanced capabilities, including a 30% reduction in size, a 25% reduction in weight, and a doubled target detection and recognition range.

Raytheon (NYSE:) has also successfully passed the U.S. Army’s counter-drone technology tests, demonstrating the effectiveness of its Ku-band Radio Frequency Sensor and Coyote Block 2 and Block 3 effectors. In addition, the company secured a $736 million contract from the U.S. Navy for the production of the AIM-9X SIDEWINDER missile’s Block II variant.

InvestingPro Insights

RTX Corp.’s strong market position and financial performance are further highlighted by recent InvestingPro data and tips. The company’s market capitalization stands at an impressive $167.01 billion, underscoring its significant presence in the Aerospace & Defense industry.

InvestingPro Tips reveal that RTX has maintained dividend payments for 54 consecutive years, demonstrating a commitment to shareholder returns that aligns with the analyst’s positive outlook. This is complemented by a current dividend yield of 2.02% and a dividend growth rate of 6.78% over the last twelve months.

The company’s revenue growth of 7.68% in the most recent quarter supports the analyst’s expectations of a potential earnings beat. Additionally, RTX’s strong return over the last year, with a one-year price total return of 74.51%, reflects investor confidence in the company’s performance and future prospects.

InvestingPro data shows that RTX is trading near its 52-week high, with its current price at 99.07% of the 52-week high. This aligns with the analyst’s maintained Buy rating and suggests market optimism about the company’s outlook.

For investors seeking more comprehensive insights, InvestingPro offers 16 additional tips for RTX, providing a deeper understanding of the company’s financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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DCI Advisors set for AIM trading on January 15

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LONDON – DCI Advisors Limited, an investment advisory firm, has announced an update on its re-domicile process, indicating that the re-domiciled entity is now expected to commence trading on the Alternative Investment Market (AIM) on January 15, 2025. This follows the company’s previous update.

In the interim, the trading of the company’s ordinary shares will remain suspended. The suspension is pending the publication of the audited accounts for the year that ended on December 31, 2023, and the interim results for the six months that concluded on June 30, 2024. DCI Advisors has assured stakeholders that these financial results are anticipated to be released shortly and has promised to make a further announcement as soon as the information becomes available.

Additionally, the company has provided specific dates relating to the re-domicile process: the record date is set for January 14, 2025, and the enablement date for Euroclear, which is a system that settles domestic and international securities transactions, covering bonds, equities, derivatives, and investment funds, is scheduled for January 15, 2025.

Investors and market participants are advised to await further communications from DCI Advisors for more detailed information regarding the re-domicile and trading resumption. The company’s managing directors, Nicolai Huls and Nick Paris, along with their nominated adviser and broker Cavendish Capital Markets and the administrator FIM Capital Limited, are handling enquiries related to this update.

This announcement is based on a press release statement and is intended to keep market participants informed about the significant dates and the current status of DCI Advisors’ re-domicile process and trading on AIM.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Graco Inc. Announces Fourth Quarter 2024 Earnings Conference Call

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MINNEAPOLIS–(BUSINESS WIRE)–Graco Inc. (NYSE: GGG) announced today that it will release its Fourth Quarter 2024 earnings after the New York Stock Exchange closes on Monday, January 27, 2025. A full-text copy of the earnings announcement will be available on the company’s website at investors.graco.com. Graco management will hold a conference call, including slides via webcast, with analysts and institutional investors to discuss the results at 11 a.m. EST / 10 a.m. CST on Tuesday, January 28, 2025.

A real-time listen-only webcast of the conference call will be broadcast on the company’s website and by going here: edge.media-server.com. Listeners should register on the website at least 15 minutes prior to the live conference call. For those unable to listen to the live event, a replay of the webcast will be available on the company’s website at investors.graco.com.

ABOUT GRACO

Graco Inc (NYSE:). supplies technology and expertise for the management of fluids in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid and powder materials. A recognized leader in its specialties, Minneapolis-based Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. For additional information about Graco Inc., please visit us at www.graco.com.

Investors: David M. Lowe, 612-623-6456
Media: Meredith (NYSE:) A. Sobieck, 612-623-6427
Meredith_A_Sobieck@graco.com

Source: Graco Inc.

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US stocks fall as Treasury yields on data flagging fresh inflation concerns

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Investing.com–US stocks edged higher Tuesday, consolidating a rally in technology shares, ahead of the release of key economic data. 

At 09:30 ET (14:30 GMT), the rose 100 points, or 0.2%, the index rose 23 points, or 0.4%, and the rose 65 points, or 0.3%.

Wall Street indexes were buoyed by a broader rally in tech stocks on Monday, which helped them recoup some of their losses from late-December and early-January. 

Nvidia in focus 

Nvidia (NASDAQ:) stock gained over 2% Tuesday, following an over 3% rally during the prior session, when the stock briefly hit a record high. 

At CES 2025, a major annual tech conference in Las Vegas, CEO Jensen Huang laid out how the world’s second-most valuable firm is bringing technology that powers its lucrative data center AI chips to consumer PCs and laptops.

Nvidia gained around $2 trillion in market capitalization through 2024, as the company further cemented its position as the premiere maker of advanced AI chips. 

The company also acts as a bellwether for the broader tech sector, given its prevalence in the fast-growing AI industry. 

Elsewhere, Meta Platforms (NASDAQ: stock fell 0.3% after the Facebook-parent said it would end its current third-party fact-checking program in the United States and instead begin moving to a ‘Community Notes’ program similar to that on social media platform X.

Microsoft (NASDAQ:) stock rose 0.4% after the software giant announced plans to spend $3 billion to expand its Azure cloud and artificial intelligence capacity in India.

Trump comments temper optimism 

Beyond tech, gains in stock markets were somewhat tempered by U.S. President-elect Donald Trump denying media reports that his administration will pursue a less aggressive tariff regime than previously feared. 

Trump denied a Washington Post report that his administration will only target certain sectors in imposing trade tariffs, instead of the broad tariffs promised by Trump during his campaigning. 

Uncertainty over Trump’s policies had also weighed on Wall Street in the beginning of the year, given that he is widely expected to enact expansionary and protectionist policies that could underpin inflation and disrupt global trade.

Labor market data in focus 

The major economic data release due later in the session is the for November, as the focus turns to the labor market and what it is saying about the strength of the US economy.

The is slated for Wednesday, ahead of Friday’s widely-watched December’s report.

The holds its next policy-setting meeting at the end of this month, and signaled a more cautious stance regarding cutting interest rates at its December meeting. 

Crude bounces 

Oil prices edged higher Tuesday, bouncing after the previous session’s losses on optimism of more policy support to revive economic growth in China, the world’s largest crude importer.

By 09:30 ET, the US crude futures (WTI) climbed 0.6% to $74.01 a barrel, while the Brent contract rose 0.7% to $76.86 a barrel.

Both benchmarks slid on Monday, after rising for five days in a row last week to settle at their highest levels since October on Friday.

(Ambar Warrick contributed to this article.)

 

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