RTX Stock Dips to $189.72 Despite 14.5% Revenue Growth and Record $289B Backlog

Key Facts

1RTX stock fell to $189.72 on September 22, 2026, despite reporting strong second-quarter results.

2The company achieved EPS of $1.89 and a 14.5% revenue increase to $24.71 billion.

3RTX holds a substantial $289 billion backlog split between commercial aerospace and defense sectors.

Amid a broader defense sector pullback, RTX Corporation's stock declined to $189.72 on September 22, 2026, despite the company delivering robust second-quarter financial results. According to reports, the company achieved an earnings per share (EPS) of $1.89, surpassing consensus estimates, while revenue climbed 14.5% year-over-year to reach $24.71 billion. This price action suggests a temporary disconnect from fundamental performance, particularly as the company maintains a massive $289 billion backlog split between its commercial aerospace and defense divisions.

The backlog includes $170 billion in commercial aerospace and $119 billion in defense contracts, providing long-term visibility for revenue streams. Per market data, RTX closed at $190.99 on September 22, 2026, after trading within a daily range of $187.04 to $194.87. Despite the immediate bearish sentiment, analyst reports indicate that firms such as Bank of America and Jefferies have maintained "Buy" ratings, with some price targets set as high as $250.00, citing the strength of the company's underlying portfolio.

Investors should watch for price stabilization following the close at $190.99 on September 22, 2026. With no major upcoming manufacturing or aerospace catalysts in the immediate economic calendar, market attention will likely remain on RTX's operational execution of its record backlog. The company's ability to meet its full-year 2026 EPS guidance of $7.10 to $7.25 remains a critical factor for recovery in the medium term.