RTX Stock: Raytheon Awarded $23B Tomahawk Missile Contract by U.S. Navy

TLDR

• Raytheon, an RTX business, has been awarded a $22.9 billion, seven-year contract from the U.S. Navy to produce Tomahawk cruise missiles.
• The contract aims to ramp annual production to more than 1,000 Tomahawk missiles.
• RTX delivered three times more Tomahawks in H1 2026 versus H1 2025.
• RTX last reported quarterly EPS of $1.89, beating estimates by $0.23, with revenue up 14.5% year over year to $24.71 billion.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $228.59; RTX opened Monday at $222.88.

Raytheon, a business unit of RTX Corporation, has landed a $22.9 billion contract from the U.S. Navy to accelerate production of Tomahawk cruise missiles. The deal runs seven years and was announced Monday by the Department of War.

The 🇺🇸 Department of War just announced that it has awarded Raytheon $RTX a $22.9 Billion contract to

"accelerate production of the Tomahawk missile" pic.twitter.com/n78ozNnpje

- Evan (@StockMKTNewz) August 17, 2026

The contract was awarded under the Department of War’s Arsenal of Freedom initiative. The goal is to ramp annual production to more than 1,000 Tomahawk missiles, along with associated support.

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