RTX Corporation (NYSE:RTX) is among the 10 Best Large Cap Defense Stocks to Buy According to Hedge Funds. On April 30, the company announced that its board of directors had approved a quarterly cash dividend of $0.73 per share, representing a 7.4% sequential increase.
The amount is scheduled for payment on June 11, 2026, to all shareholders on record as of the close on May 22. The aerospace and defense company has paid cash dividends on its common stock for 90 consecutive years.
In other news, RTX Corporation (NYSE:RTX) reported sales of $22.1 billion for the first quarter, reflecting a 9% growth from the prior year. Its adjusted EPS came in at $1.78, beating estimates by 27 cents and up 21% year over year. It ended the quarter with a record backlog of $271 billion, up 25%, and driven by large defense and commercial orders.
The company lifted its adjusted sales and earnings outlook for the full year, citing the strong financial performance and strength in the defense business. The annual top-line figure is now expected to be between $92.5 billion and $93.5 billion, while adjusted EPS is projected to be between $6.7 and $6.9.
As of the close of business on May 5, the stock is a Moderate Buy with an average share price upside potential of 28%, based on recommendations from 15 analysts.
RTX Corporation (NYSE:RTX) is a giant in the global aerospace and defense industry, providing systems and services to commercial, military, and government clients. It operates through three main businesses: Collins Aerospace, Pratt & Whitney, and Raytheon.
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