Raytheon wins up to $6.3bn contract for SM-3 Block IB missiles

Raytheon, an RTX business, received a $6.3 billion Pentagon contract for Standard Missile-3 Block IB interceptors. The deal includes $454 million in immediate funds for fiscal year 2026. Production will occur in Tucson, Arizona, and Huntsville, Alabama, supporting domestic defense vendors. The interceptors can be deployed from ship or land to defend against short- to intermediate-range ballistic missiles.

RTX Corporation (NYSE:RTX) reported Q2 sales of $24.7B, up 14%, and adjusted EPS of $1.89, up 21%. Its backlog reached $289B. Management raised its full-year adjusted EPS outlook to $7.10-$7.25. RTX secured a $20.7B missile production contract. Jim Cramer noted defense demand but concerns about commercial aviation and engine-related costs.

Barclays initiated coverage on RTX (Raytheon Technologies) with an 'Overweight' rating and a $223.00 price target. RTX is currently trading at $183.58, which is 18.2% overvalued according to its GF Value™ of $155.33. The company has a GF Score™ of 88/100, indicating strong overall performance. Insider activity shows significant selling, with $6.86 million in sales over the past three months.

RTX Corp.'s (RTX) Raytheon unit secured a $6.3B Pentagon contract to produce and sustain SM-3 Block IB interceptors, replenishing depleted missile-defense inventories. The five-year deal includes options for two more years and supports urgent replenishment following combat operations. RTX shares rose 0.37% in pre-market trading.

Raytheon, an RTX business, secured a $6.3B contract for SM-3 IB interceptors, spanning five years with two optional years. The deal supports missile defense inventory replenishment and is part of recent agreements with the Department of War. Production will occur at facilities in Tucson, Arizona, and Huntsville, Alabama. Raytheon's Phil Jasper highlighted the company's commitment to increasing munitions production.

RTX Corp.'s Raytheon unit won a $6.3 billion contract for SM-3 IB interceptors, with options extending it to seven years. The deal supports U.S. missile defense and was part of recent agreements with the U.S. Department of War. RTX shares rose 0.41% to $185.07 overnight.