RTX's Raytheon Awarded $105.6 Million US Air Force Contract Modification

Raytheon Co. won a $105.6M contract modification for missile parts, with work in Tucson, Arizona, and completion by 2027. The contract includes military sales to 30 countries. Funding is allocated from fiscal 2025 missile procurement, Navy weapons procurement, and Foreign Military Sales funds.

Raytheon Co. received a $34.36 million contract from the U.S. Department of War for V-22 Tactical Software Suite support. The contract includes engineering and technical services for the Air Force, Marine Corps, and Navy, with work set to be completed by August 2028. Funding is sourced from multiple fiscal year appropriations, primarily from fiscal 2026.

RTX secured a multi-year contract to supply Tomahawk missiles to the U.S. Navy and allies, aiming to boost production capacity. The company delivered three times more Tomahawks in H1 2026 than H1 2025, investing in workforce and supply chain to meet demand. Tomahawk is a key long-range strike weapon for military operations.

Apple (AAPL), Forte Biosciences (FBRX), and RTX (RTX) hit 52-week highs. AAPL reached $339.57, regaining top market cap at $4.95T. FBRX surged 39% after a $2.2B acquisition deal. RTX hit $220.39 post-earnings beat. Analysts raised targets for RTX and FBRX.

RTX stock has pulled back 13.8% from its August high but remains up 23.5% over 52 weeks. The company reported Q2 revenue of $24.7B, up 14.5% YoY, and adjusted EPS of $1.89, up 21.1% YoY. RTX has a $289B backlog and raised its 2026 outlook. Analysts have a consensus 'Moderate Buy' rating with an average price target of $231.83.

RTX shares fell 1.1% to $191.49 after the FAA estimated tariffs could add $100M to its air-traffic-control modernization effort. The company trades 24.09% above its GF Value™ of $154.31. RTX is investing in domestic production capacity, but contract details and profitability remain uncertain.