RTX Shares Rise on Record $268B Backlog and Strong Q4 Commercial, Defense Growth

RTX (NYSE: RTX) shares climbed to $201.34 as of February 3, 2026, following a strong Q4 earnings report driven by double-digit growth in commercial original equipment and aftermarket sales, alongside rising defense orders. CEO Chris Calio cited improved operational execution, with output increasing on key programs and total backlog hitting a record $268 billion. Analysts focused on unscripted concerns during the call, including the pace of commercial aircraft production ramp-up, defense output scalability amid supply chain constraints, and whether digital factory investments will translate into sustained margin improvement. The company also highlighted productivity gains from capacity expansions and manufacturing digitization. Investors are now assessing whether RTX is at an inflection point warranting new positions.