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.
RTX opened Monday at $222.88, up 0.26% on the day. The stock has a 52-week range of $150.61 to $226.88, putting it close to its yearly high.
The company has already been scaling up. RTX delivered three times more Tomahawks in the first half of 2026 compared to the same period in 2025. That’s a fast ramp by any measure.
Raytheon President Phil Jasper said the company is investing in its workforce, technology, supply chain, and facilities to boost production capacity. “Tomahawk is the Navy’s most important strike weapon,” he said.
The contract gives RTX the stability to expand its workforce, increase manufacturing throughput, and build out supply chains. The company will work with hundreds of small and mid-sized suppliers across the country to hit those targets.
RTX’s fundamentals have been moving in the right direction too. In its most recent quarterly report on July 23rd, the company posted EPS of $1.89, beating the consensus estimate of $1.66 by $0.23.
Revenue came in at $24.71 billion, ahead of analyst estimates of $22.89 billion and up 14.5% year over year. The company has set FY 2026 EPS guidance at $7.10 to $7.25.
RTX carries a market cap of $300.38 billion and a P/E ratio of 39.24. The 50-day moving average sits at $200.02, with the 200-day at $194.87.
Wall Street is broadly positive on the stock. RTX holds a consensus “Moderate Buy” rating with an average price target of $228.59.
Royal Bank of Canada raised its target to $250.00 following earnings, giving it an “outperform” rating. Susquehanna lifted its target to $245.00 with a “positive” rating. Robert W. Baird set a $240.00 target.
Wells Fargo kept an “equal weight” rating but raised its target from $200.00 to $230.00. Of the analysts covering RTX, 14 have a Buy rating, five Hold, one Strong Buy, and one Sell.
Institutional investors own 86.5% of the stock. N.E.W. Advisory Services LLC opened a new position in Q2, buying 5,590 RTX stock units worth roughly $1.06 million.
The company also declared a quarterly dividend of $0.73 per share, payable September 3rd, representing a $2.92 annualized yield of 1.3%.
On the insider side, VP Kevin G. Dasilva sold 4,760 units at an average price of $213.62 on July 24th, and insider Troy D. Brunk sold 8,557 units at $210.29 on the same date.
The post RTX Stock: Raytheon Awarded $23B Tomahawk Missile Contract by U.S. Navy appeared first on CoinCentral.
