Raytheon Wins $1.8B Navy Radar Contract, Options Could Push Value to $3.3B
RTX sits 37% above its 52-week low of $143.56.
Summary
Raytheon, an RTX business, secured a $1.8 billion contract extension from the U.S. Navy for SPY-6 radar production and sustainment. The deal includes options that could bring the total value to $3.3 billion. This follows a series of recent defense wins for RTX, including a $1.1 billion missile contract in June and a £2 billion UK training consortium award earlier this month. The SPY-6 program is a long-term franchise—already deployed on two ships, with plans for over 50 vessels—and Raytheon has invested $800 million to double output by 2028. The contract reinforces RTX's defense backlog and provides multi-year revenue visibility, partially offsetting headwinds from Pratt & Whitney's commercial engine issues.
At the time of this announcement, RTX was trading at $196.34 on NYSE in the Manufacturing sector, with a market capitalization of approximately $261.8B. The 52-week trading range was $143.56 to $214.50. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.