RTX Corporation (NYSE:RTX) shares traded higher on Friday after its Raytheon business received a $1.1 billion U.S. Navy contract to produce AIM-9X Block II missiles.
Navy Contract Supports Missile Production
The award supports efforts to strengthen the U.S. military inventory and meet rising demand from allied nations. Under the contract, Raytheon will produce AIM-9X missiles, along with related hardware and software, for U.S. and Foreign Military Sales customers.
AIM-9X Demand Expands
The AIM-9X is an infrared-tracking, short-range air-to-air and surface-to-air missile used in multiple theaters worldwide.
Raytheon said the system can be installed on a wide range of modern aircraft and also supports ground-launched defense capabilities, including the National Advanced Surface to Air Missile System, or NASAMS.
The U.S. and more than 35 allied and partner nations use the missile. To meet growing demand, Raytheon is expanding production capacity to 2,500 missiles per year.
Most of the work under the contract will take place in Tucson, Arizona, where Raytheon is also expanding its engineering workforce to support critical military programs across multiple domains.
RTX Technical Outlook: Momentum And Key Support Levels
The stock is currently trading above its 20-day simple moving average (SMA) at $182.19 and its 50-day SMA at $179.92.
The moving average convergence divergence (MACD) is above its signal line, indicating that downside pressure is easing, suggesting improving momentum in the stock.
- Key Resistance: $194.00 — a nearby level where rebounds can stall.
- Key Support: $171.00 — a nearby level where buyers previously stepped in.
RTX Earnings Preview And Analyst Price Targets
RTX is expected to provide its next financial update on July 21, 2026.
Analysts estimate earnings of $1.66 per share, up from $1.56, on revenue of $22.86 billion, up from $21.58 billion. The stock trades at a price-to-earnings ratio of 35.0x, indicating a premium valuation.
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $215.00. Recent analyst moves include:
- Jefferies: Upgraded to Buy (Raises Target to $220.00) (June 4)
- Morgan Stanley: Overweight (Lowers Target to $220.00) (April 22)
- UBS: Neutral (Lowers Target to $199.00) (April 22)
RTX Stock Price Today: Shares Trade Higher
RTX Stock Price Activity: RTX shares were up 1.75% at $189.85 at the time of publication on Friday, according to Benzinga Pro data.
Image by T. Schneider via Shutterstock
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