Raytheon Installs First SPY-6(V)4 Radar Array at Wallops Island, Paving Way for Navy Destroyer Upgrades
RTX sits 43% above its 52-week low of $150.613.
Summary
Raytheon completed installation of the first SPY-6(V)4 radar array at the Wallops Island test site, a key step in the U.S. Navy's Flight IIA Destroyer modernization. The land-based testing will reduce shipyard time for USS Pinckney (DDG 91), the first backfit ship, with initial tests starting later this year and running through mid-2028. This milestone follows RTX's raised 2026 outlook and recent $1.1B Navy missile contract, reinforcing the defense segment's momentum. The SPY-6 family is expected on over 50 ships in the next decade, and Raytheon's $800M factory investment aims to double output by 2028, supporting long-term revenue visibility.
At the time of this announcement, RTX was trading at $215.99 on NYSE in the Manufacturing sector, with a market capitalization of approximately $290.1B. The 52-week trading range was $150.61 to $221.34. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.