October 20, 2026
Bonus Content: RTX Has a $289 Billion Backlog. The Stock Is 16% Below Its High.
Dear Reader,
On January 24th, 2022, Bank of America told Bloomberg something that should terrify every American with a savings account…
The digital dollar is inevitable.
Most Americans missed it completely.
This is your bank talking.
The bank where your neighbors have mortgages. Where your family keeps savings. Maybe where you have your retirement money.
And they just admitted they’re about to trap your wealth in a digital cage.
Think about what this means.
When the digital dollar goes live, every dollar you saved could suddenly be trackable at the transaction level.
Imagine the worst case scenario:
You’re now subject to new digital withdrawal limits and spending restrictions.
Your account can be frozen remotely without court approval.
Bank of America knows this is coming. They’re helping build it. And they’re telling you it’s inevitable.
But here’s what Bank of America didn’t tell Bloomberg.
There’s still a way to protect your wealth before this digital prison locks.
The escape route?
Become your own bank before they flip the switch.
I’m an ex-Wall Street investment banker and CFA© Charterholder who witnessed this plan firsthand.
And I’m not the only one moving.
The largest institutions on earth are already migrating from the system they helped build.
BlackRock launched its tokenized treasury fund directly on-chain. JPMorgan processes over $1 billion daily through its own blockchain. Visa is settling stablecoin transactions outside the traditional banking system entirely.
They’re not waiting for the digital dollar. They’re building the exit.
While everyone else gets trapped in Bank of America’s digital system, my research team has been positioning members outside that reach… completely under their own control.
Our research methodology was independently audited by Conquest Investment Advisory AG, a German firm regulated by BaFin.
Across 571 research signals, 86.34% rose more than 20%, with an average historical return of 416.88% to all-time high*.
No government tracking. No withdrawal limits. No remote freezing.
Financial sovereignty.
I just released this important video showing exactly how to become your own bank before the digital dollar launches.
Click here to watch how to become your own bank before the switch flips →
To your wealth,
Tan Gera, CFA©
Co-Founder | Decentralized Masters
P.S. Bank of America said 2025 to 2030. We’re inside that window now. BlackRock and JPMorgan are already through the exit. See how to follow them out before the digital dollar locks in →
RTX Has a $289 Billion Backlog. The Stock Is 16% Below Its High.
The last time RTX Corporation reported earnings, it beat consensus by $0.23 per share and posted 16% organic sales growth. The stock jumped about 9% on the day. Yet here, three months later, RTX trades near $190, roughly 16% below its February peak of $227, while the defense contracting environment around it has only intensified.
That is the central tension heading into today’s Q3 report before the opening bell.
Why This Stock Now
In the weeks since its Q2 beat, Raytheon has secured contracts that would make almost any industrial company envious. The company landed a five-year U.S. Navy deal, plus two option years, worth up to $24.4 billion for SM-6 multi-mission interceptors. Separately, a Defense Department award gives RTX up to $6.3 billion over a multi-year period for SM-3 Block IB missile interceptors to replenish missile-defense inventories after combat use. Add in a sole-source U.S. Air Force contract with an $8 billion ceiling to modernize Strategic Communications Terminals for nuclear forces through October 2036, and Raytheon’s order intake is not a cyclical tailwind, it is structural demand with decade-long duration.
The combined backlog entering Q3 stood at $289 billion, up 22% year over year. Defense backlog alone was $86 billion as of June 30, with Raytheon recording $20 billion in defense bookings in the second quarter.
The Business
RTX is three businesses under one roof: Collins Aerospace, Pratt & Whitney, and Raytheon. All three segments delivered double-digit organic growth in Q2, with Raytheon margins at 12.6% and Pratt’s commercial aftermarket up 25%. The commercial aerospace recovery is real. Rising flight hours, driven by continued growth in domestic and international air travel, are sustaining strong demand for commercial aircraft aftermarket services.
What makes RTX structurally compelling is the geographic spread of its defense book. Raytheon’s international backlog now represents about 48% of the total, with about $10 billion in international awards in the first half of 2026. That is not dependency on a single government budget cycle. It is demand distributed across NATO allies rearming at a pace not seen since the Cold War.
RTX is not the only prime contractor navigating this gap between record backlogs and a stock price that hasn’t caught up. Lockheed Martin’s $230 billion backlog — the largest in its history — sits alongside a stock still 23% off its high, a parallel setup driven by the same NATO rearmament cycle.
What Wall Street Is Watching
Analysts expect about $1.77 EPS and about $24.05 billion in Q3 revenue. RTX has beaten consensus expectations in each of the past four quarters, according to Zacks, posting an average earnings surprise in the mid-teens. The bar is real. For the current quarter, analysts are projecting mid-single-digit to high-single-digit revenue growth year on year, a notable deceleration from the prior year’s pace.
Beats are now expected. What matters more is guidance. Full-year consensus already sits near the top end of RTX’s raised 2026 outlook, meaning flat guidance could sting investors more than a quarterly beat pleases them.
What Could Go Wrong
The Pratt & Whitney GTF engine inspection program is the most tangible risk. Production ramp constraints have limited delivery velocity across the commercial portfolio, and GTF powder metal inspections remain an open risk. Supply chain bottlenecks could cap the upside in what is otherwise a very clean demand picture.
Valuation is a secondary concern. With RTX trading at a premium multiple on forward earnings versus some defense peers, there is less room for error than with names like Northrop. The stock’s average analyst target sits near the low-to-mid $220s, implying meaningful upside from here, but that gap has existed for months without closing.
The valuation discount versus peers is not unique to RTX. General Dynamics faces the same execution-gap dynamic, where a record backlog has not yet closed the distance to analyst price targets.
The Bottom Line
RTX is not a company with a demand problem. The pullback from $227 to the low $190s has created a meaningfully better entry point than existed two months ago, and the combination of defense spending tailwinds and the commercial aerospace recovery still has years of visible runway.
The Q3 report this morning is less about proving the business works, and more about proving that management can translate a record-breaking backlog into rising margins on a predictable schedule. If CEO Chris Calio can offer that visibility today, the gap between the current price and the Street’s target has every reason to compress.
