7 Basic Materials Stocks to Buy to Anchor Your Portfolio

The movement of basic materials stocks requires investors to keep a keen eye on the state of the economy to determine profitability. Raw materials such as plastic, steel, and lumber will always be in demand. Here are 7 stocks to take advantage of the growing demand!

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What's Going On With Pratt & Whitney Parent RTX Shares Today?

Nabaparna Bhattacharya
April 09, 2024

RTX Corporation (NYSE:RTX) shares are trading lower on Tuesday.

The company’s Pratt & Whitney unit revealed details of its North American Technology Accelerator (NATA), a commercial and military aftermarket operations center in Florida. 

NATA will have dedicated space, tools, and resources for tech insertion programs, bolstering global MRO network development, RTX Corporation said in a press release.

Florida accelerator initiatives prioritize material restoration and process automation, targeting advanced repairs, digital inspection, and more for compressor and fan parts, the company said. 

These technologies aim to cut costs, reduce environmental impact, and enhance customer value.

“NATA combines data science with people know-how and state-of-the-art automation to help address customer pain points such as inventory management and part availability, while accelerating our improved repair capabilities and efficiency to better serve our customers,” said Kevin Kirkpatrick, vice president, Aftermarket Global Operations at Pratt & Whitney.

A significant focus is on additive repairs for critical GTF engine parts. Pratt & Whitney anticipates reclaiming $100 million in parts over five years to bolster GTF MRO efforts.

According to Benzinga Pro, RTX stock has gained over 1% in the past year. Investors can gain exposure to the stock via IShares U.S. Aerospace & Defense ETF (BATS:ITA) and IShares U.S. Aerospace & Defense ETF (NYSE:MISL).

Price Action: RTX shares are trading lower by 0.94% to $100.92 on the last check Tuesday.

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