RTX Corporation

“RTX owns one of the deepest industrial moats globally — decades-long OEM aftermarket lock-in, sole-source defense monopolies, and a $217B backlog — but at 23x forward earnings the market has already priced in GTF normalization and defense tailwinds, leaving expected 5-year annualized returns of only 3–4% and a 10-year outcome of roughly 2–2.5x; the business deserves to be on every serious investor's watchlist, but a compelling entry requires a correction to the $145–155 range where a genuine margin of safety emerges.”