Raytheon Wins $247M Navy Deal to Upgrade Phalanx and SeaRAM Systems
RTX sits 20% above its 52-week low of $155.64.
Summary
Raytheon, an RTX business, secured a $247 million contract to upgrade Phalanx and SeaRAM close-in weapon systems. The award adds to a string of recent defense wins, including a $20.7 billion AMRAAM contract announced yesterday and a $22.9 billion Tomahawk deal in August. While modest relative to RTX's $252 billion market cap, it reinforces the company's strong defense backlog and aftermarket momentum. The contract is a firm-fixed-price modification, suggesting stable margins. No specific delivery timeline was disclosed.
At the time of this announcement, RTX was trading at $186.94 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $251.9B. The 52-week trading range was $155.64 to $226.88. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.