RTX Corp’s (RTX) Raytheon unit has secured a $333 million contract from the US Navy to produce Standard Missile-6 (SM-6) Block IA missiles.
Deployed on US Navy ships, SM-6 delivers a proven, over-the-horizon offensive and defensive capability by leveraging the time-tested Standard Missile airframe and propulsion system.
“SM-6 has a proven performance, and this contract is an important step for providing this urgently needed weapon to our armed forces,” Barbara Borgonovi, President of Naval Power at Raytheon, said in a press release.
“Raytheon continues to work closely with our customers to ensure our military has an unfair advantage at sea and to keep our adversaries guessing.”
Stock Performance
The shares of RTX Corp (RTX) closed 2.28% ($2.63) higher at $117.74 in New York on Monday. It has been the sharpest single-session gain since November 8th 2024.
The aerospace and defense company’s total market cap now stands at $156.714 billion.
The shares of RTX Corp (RTX) went up 37.53% in 2024, compared with a 23.30% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have risen another 1.74% so far this year.
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