CEDAR RAPIDS, Iowa - Collins Aerospace, a business unit of RTX (NYSE: RTX), has introduced an avionics upgrade program for Beechcraft King Air and Hawker aircraft. The program focuses on enhancing aircraft operability, safety, and efficiency through the implementation of advanced avionics systems. RTX, with a market capitalization of $156.82 billion and a strong position in the Aerospace & Defense industry according to InvestingPro, continues to demonstrate its commitment to innovation.
The upgrades include transitioning Pro Line 21-equipped King Air 200 and 300 series aircraft to the Pro Line Fusion system and providing comprehensive system upgrades for factory-installed Pro Line Fusion on the same series. Additionally, Pro Line 21 modernization upgrades will be applied to the King Air 200 and 300 series, as well as to Hawker 750, 800, and 900 series aircraft.
Nathan Voight, vice president and general manager of Business and Regional Avionics for Collins Aerospace, stated that the modernization program is designed to meet the demands of complex global airspaces by providing pilots with more intuitive and responsive flight deck performance.
The Pro Line Fusion system offers touchscreen displays and integrates tools for communication, navigation, and surveillance, including synthetic vision and enhanced navigation for improved pilot control and efficiency. The Pro Line 21 system aims to reduce pilot workload and increase situational awareness with high-resolution displays and integrated digital cockpit features.
Collins Aerospace supports the upgrade initiative with a robust customer service program, which includes a dealer network and installation base to facilitate a smooth transition for operators.
The press release emphasizes Collins Aerospace's commitment to advancing sustainable and connected aviation through the development of intelligent solutions for the aerospace and defense industry. RTX, the parent company of Collins Aerospace, employs over 185,000 people globally and reported impressive revenues of $79.04 billion in the last twelve months. InvestingPro analysis indicates RTX is currently trading near its Fair Value, with analysts projecting continued net income growth this year. The company maintains a solid 2.14% dividend yield and has shown remarkable performance with a 43.23% year-to-date return.For deeper insights into RTX's financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers over 1,400 US equities with detailed analysis and actionable intelligence.
The information presented in this article is based on a press release statement from Collins Aerospace.
In other recent news, RTX Corp's Pratt & Whitney received FAA certification for its GTF engine to power the Airbus A321XLR, offering customers increased route flexibility. The GTF engine has been chosen by 13 customers for 217 A321XLR aircraft due to its fuel efficiency and low carbon emissions. The company also announced the upcoming GTF Advantage engine, expected to be certified and delivered in 2025, promising higher takeoff thrust and fuel efficiency.
In analyst news, Bernstein raised its price target for RTX Corp to $134, while Jefferies maintained a hold rating with a price target of $135. BofA Securities raised its price target for RTX Corp to $145, maintaining a buy rating. These adjustments reflect the analysts' assessments of the company's financial performance and strategic direction.
RTX Corp also secured a $1.3 billion contract to support the F-35 Lightning II aircraft's propulsion systems, providing depot level maintenance, repair, and various forms of management support for the F135 engines. Additionally, the company completed a significant phase in developing advanced electronic warfare technology for the U.S. Navy's F/A-18 E/F Super Hornet.
Furthermore, RTX Corp reported strong third-quarter earnings with an adjusted earnings per share of $1.45 and an organic revenue increase of 8%. The company also revised its 2024 adjusted EPS guidance to a range of $5.50 to $5.58. These recent developments highlight RTX Corp's robust financial performance and strategic advancements.
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