U.S. Navy Awards Raytheon $1.1 Billion Contract for AIM-9X Missiles
RTX sits 33% above its 52-week low of $140.47.
Summary
RTX's Raytheon business secured a $1.1 billion contract from the U.S. Navy for the production of AIM-9X Block II missiles. This award will boost U.S. military inventory and fulfill increased demand from allied nations, adding to Raytheon's substantial backlog. The contract is a positive development for RTX, especially following recent concerns about its Pratt & Whitney engine division, and underscores continued strong demand for its defense products.
At the time of this announcement, RTX was trading at $186.62 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 8 out of 10. Source: PR Newswire.