RTX Corp Stock Price, News & Analysis

Raytheon Technologies (NYSE: RTX) will announce its first quarter 2023 earnings on April 25, 2023, prior to market opening. A conference call is scheduled for 8:30 a.m. ET on the same day, which will be accessible via live webcast on their website. The company, headquartered in Arlington, Virginia, reported sales of $67 billion in 2022, making it the world's largest aerospace and defense firm. Investors and media can find further information and participate in the conference via the company's official channels.

Raytheon Technologies (NYSE: RTX) secured a $1.2 billion contract from the U.S. Army to supply the Patriot™ air defense system to Switzerland. This marks Switzerland as the 18th global partner and the eighth European nation to adopt this advanced military technology. The contract encompasses five Patriot fire units and Guidance Enhanced Missiles (GEM-T) designed to counter tactical ballistic missiles and cruise missiles. Additionally, Raytheon will collaborate with Swiss industries, enhancing local participation in the management of this sophisticated air defense capability. The contract was officially announced on March 28, 2023.

Raytheon Technologies (NYSE: RTX) has successfully delivered all 23 contracted Joint Precision Approach and Landing Systems (JPALS) to the U.S. Navy, achieving on-time or early delivery. JPALS enhances aircraft navigation and landing safety regardless of weather or sea conditions, and is integrated on F-35 aircraft. The system is also deployed on U.S. Navy carriers and will support the Japan Maritime Self-Defense Force by 2024. The company has developed a portable variant, eJPALS, for remote landings. This milestone reflects a decade of teamwork and commitment from Raytheon's employees.

On March 6, 2023, Pratt & Whitney, part of Raytheon Technologies (NYSE: RTX), secured a $5.2 billion contract for the production of the 15th and 16th lots of F135 engines, with options for a 17th lot. This contract supports the F-35 Lightning II fighter aircraft and encompasses a total contract value of approximately $8 billion for lots 15-17. The deal includes funding for production management, engineering support, and tooling for up to 518 engines. Pratt & Whitney's efforts have successfully reduced the average unit cost of an F135 engine by over 50%, yielding projected savings of $8.1 billion since the program's inception.

Raytheon Technologies (NYSE: RTX) announced a significant contract win valued at over $250 million from the Space Development Agency. This award involves the design, development, and delivery of a seven-vehicle missile tracking satellite constellation. Once operational, this constellation will enhance missile warning and tracking capabilities for the Department of Defense, marking it as an essential component of the Proliferated Warfighter Space Architecture. The initiative aims to improve tracking of emerging threats, such as hypersonic missiles, by utilizing advanced technologies and existing designs.

Neural Propulsion Systems (NPS) has secured a Series B strategic investment from RTX Ventures, the venture capital arm of Raytheon Technologies (RTX). This funding will advance NPS's hyper-resolution digital imaging radar technology, aiming for a radar system with 10 times better resolution and 2.5 times greater range for mobility and defense applications. The radar market is projected to reach $28 billion by 2025, with NPS's AtomicSense platform poised to disrupt this industry by improving scanning speed and reliability. NPS's patented algorithms enhance radar performance, addressing complex challenges in mobility and defense.

Raytheon Technologies (NYSE: RTX) has received a $135 million contract from the U.S. Air Force Life Cycle Management Center to produce advanced NP2000 propeller systems for C-130 aircraft. The contract includes manufacturing and supporting the electronic control system and spare parts. The NP2000 system features eight composite blades designed for enhanced performance, reliability, and maintainability. This modernization effort aims to improve flight safety and reduce operational costs. Work will be executed in Windsor Locks, Connecticut. Raytheon Technologies reported $67 billion in sales for 2022.

Raytheon Technologies (NYSE: RTX) Chairman and CEO Greg Hayes will present at the Barclays Industrial Select Conference on February 22, 2023, at 9:10 a.m. ET. The presentation will be live-streamed and available for later viewing on www.rtx.com. Raytheon Technologies is the largest aerospace and defense company globally, employing 180,000 team members with 2022 sales reaching $67 billion. The company is headquartered in Arlington, Virginia, and focuses on advancing aviation, defense systems, and innovative space technologies.