Raytheon Secures Up To $1.1B Navy Contract for Missile Production
RTX sits 32% above its 52-week low of $140.47.
Summary
RTX's Raytheon unit secured a contract modification from the U.S. Navy valued at up to $1.1 billion for the production of missiles and other components. This positive development for the defense segment follows recent negative news regarding engine issues at RTX's Pratt & Whitney division. The contract provides a substantial revenue stream and reinforces RTX's role as a key defense contractor, with work expected to be completed by September 2029.
At the time of this announcement, RTX was trading at $185.15 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $251.3B. The 52-week trading range was $140.47 to $214.50. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.