Raytheon Secures $515M Navy Contract for SPY-6 Radar Upgrades
RTX sits 28% above its 52-week low of $135.425.
Summary
RTX's Raytheon division secured a $515 million contract from the U.S. Navy for its SPY-6 radar family. This follow-on award includes accelerating integration and test support, and upgrading Flight IIA destroyers. The contract adds to RTX's robust backlog, building on several large awards in recent months, including a $6.6 billion F135 engine contract. This win reinforces Raytheon's leadership in advanced maritime radar systems and provides continued revenue visibility, with potential for future foreign military sales.
At the time of this announcement, RTX was trading at $173.84 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $234.7B. The 52-week trading range was $135.43 to $214.50. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.