RTX Secures $511.5M U.S. Navy Contract Modification for AN/SPY-6

RTX Corporation secured a $511.5M contract modification from the U.S. Navy for AN/SPY-6(V) radar hardware production and spares. The contract, funded and expected to run through November 2031, involves RTX's missile and defense business.

RTX aims to produce 2,500 AIM-9X Sidewinder missiles annually, supported by a $30 million U.S. Department of War contract to expand its supplier base. The contract, fully funded, involves engineering work to identify suppliers for missile components. The AIM-9X is widely used by 36 countries, including the U.S. and Poland, for air defense systems. Work will be completed by February 2030 across the U.S., Canada, Switzerland, and Germany.

The U.S. Army selected Anduril, Castelion, Lockheed Martin, Mach Industries, and RTX to develop advanced long-range missile prototypes for the PrSM Increment 4 program. The missiles will target land and maritime objectives over 621 miles, launched from HIMARS. Competitive fly-offs will occur in FY2027 and FY2028, with potential awards for effective designs. Lockheed Martin recently received a $1.2B contract for short-range PrSM production.

RTX (NYSE:RTX) unit Raytheon secured a multi-year AMRAAM missile production contract worth up to $20.7 billion. The deal supports the Department of War's Arsenal of Freedom initiative to accelerate advanced air-to-air missile delivery. RTX, a $252.9 billion aerospace and defense contractor, expects the contract to boost revenue and operating profit, aligning with its long-term production plans.

Raytheon (RTX) secured a $20.7 billion Pentagon contract to accelerate production of AMRAAM missiles, with annual output set to reach 1,900 units. The deal supports U.S. restocking efforts amid ongoing conflicts. The missile, used by 44 countries, is being upgraded to counter future threats.

RTX Corp (RTX) received a $247M contract for MK 15 weapon systems upgrades, including Phalanx and SeaRAM models, for the U.S. Navy and Army. The company's GF Score is 86/100, indicating strong financial health, but it is modestly overvalued by 20.5% according to GF Value. Insider activity shows $41.8M in selling over the past year.