Welcome to our dedicated page for RTX news (Ticker: RTX), a resource for investors and traders seeking the latest updates and insights on RTX stock.
RTX Corporation reports aerospace and defense developments across Collins Aerospace, Pratt & Whitney and Raytheon. News commonly covers Collins avionics, commercial aviation radars, satellite and secure communications components, and multi-domain security solutions; Pratt & Whitney commercial and military engine production, including GTF, F135 and F100 programs; and Raytheon defense systems such as SeaRAM, SharpSight radars, missile-warning sensors, air and missile defense, advanced sensors and space-based systems.
Company updates also include earnings releases, backlog and cash-flow commentary, dividend actions, facility investments and production-capacity expansions tied to commercial aerospace and defense demand. Contract announcements and customer program awards provide recurring detail on RTX's role as a supplier to military, civil aviation and allied defense markets.
Pratt & Whitney Canada (P&WC), a Raytheon Technologies unit, announced a $163M CAD investment to advance its hybrid-electric propulsion technology as part of Canada’s green recovery plan. Supported by the Canadian and Quebec governments, this initiative aims for a 30% reduction in fuel burn and CO2 emissions compared to modern regional turboprop airliners. The project will feature a flight demonstrator based on the Dash 8-100, integrating an advanced motor and controller from Collins Aerospace. Ground testing is planned for 2022, with flight testing anticipated in 2024.
Pratt & Whitney, a unit of Raytheon Technologies (NYSE: RTX), has secured over 800 orders for GTF engines in 2021, contributing to the recovery in the aerospace sector. Major customers include Frontier Airlines, Volaris, Air France, Delta Air Lines, and AerCap. The GTF engines offer up to 20% reduced fuel burn and significantly lower emissions. AerCap has committed to powering 80 additional Airbus A320neo and A321neo aircraft with these engines. This momentum is anticipated to continue throughout the year, highlighting Pratt & Whitney's leadership in fuel-efficient technology.
Raytheon Intelligence & Space has secured a $171.6 million contract for Low-Rate Initial Production Lot I of the U.S. Navy's Next Generation Jammer Mid-Band (NGJ-MB), marking a significant shift from development to production. The NGJ-MB system enhances airborne electronic attacks by denying, disrupting, and degrading enemy technologies. Completed testing includes over 145 hours of flight and 3,100 hours of lab evaluations. The Milestone C decision further propels the program into deployment, aiming to improve the effectiveness of naval aviation.
Raytheon Technologies (NYSE: RTX) is set to release its second quarter earnings on July 27, 2021, before the market opens. A conference call will follow at 8:30 a.m. ET, and a corresponding presentation will be available for download on their website. Analysts can ask questions during the call, and it will be broadcast live online with replays available afterward. Raytheon Technologies, formed in 2020, is a leading aerospace and defense company with four primary business segments, providing advanced systems for commercial, military, and government markets.
Blue Canyon Technologies, a subsidiary of Raytheon Technologies (NYSE: RTX), announced the successful launch of its microsatellites and components on SpaceX's Falcon 9 Transporter 2 mission. Featuring over 88 satellites, Blue Canyon showcased its diverse product line, including the X-SAT Venus ESPA-class bus. The launch supports various missions, including the TROPICS Pathfinder, aimed at improving hurricane forecasting. Stephen Steg, CEO, emphasized the company's integrated production capabilities and expanding partnerships, positioning Blue Canyon for growth in the commercial space market.
On June 29, 2021, Collins Aerospace, part of Raytheon Technologies (NYSE: RTX), announced the completion of a critical design review for a 500 kilowatt electric motor for the Airlander 10 aircraft. The motor's fabrication has started, with flight testing planned for 2023. By 2025, hybrid-electric operations are expected, transitioning to all-electric, zero-emission flights by 2030. Collins has invested $18 million in its facility in Solihull, U.K., to support this project. The initiative aims to bolster U.K. aerospace capabilities and contribute to sustainable aviation efforts.
Raytheon Technologies Corporation (NYSE: RTX) has declared a quarterly dividend of 51 cents per share, payable on Sept. 9, 2021, to shareholders of record as of Aug. 20, 2021. This marks a continuation of the company's commitment to returning value to its shareholders, having paid cash dividends annually since 1936. Raytheon Technologies is a prominent aerospace and defense company with four leading business segments, including Collins Aerospace Systems and Pratt & Whitney.
The USO has inaugurated a new center at the Naval Submarine Base in New London, Connecticut, supported by Pratt & Whitney. This facility aims to enhance support for service members and their families, offering on-base programs and career resources. Pratt & Whitney has previously contributed $1 million to renovate the USO's DCA facility and is committed to assisting the military community through employment readiness workshops. The USO, celebrating over 80 years of service, operates over 250 locations worldwide.
Raytheon Intelligence & Space has secured a $495 million contract to deliver logistics and repair services for U.S. Marine Corps ground equipment over five years. The contract aims to provide over 10,000 repaired parts annually, enhancing the Marines' operational capabilities. This contract builds on 17 years of support from the company and almost doubles the equipment managed by Raytheon. The expanded logistics will cover all major Marine Corps installations globally, ensuring mission readiness without delays due to repairs or missing parts.
Raytheon Technologies Corporation (NYSE: RTX) has announced the promotion of Stephen Steg, co-founder and chief technical officer of Blue Canyon Technologies (BCT), to chief executive officer. Steg succeeds George Stafford, who will serve in an advisory role. With nearly 25 years in the space industry, Steg aims to lead BCT's growth in the small-satellite sector, supported by Raytheon’s resources. Matt Magaña continues as president, and Steve Schneider has been appointed COO. BCT is currently engaged in nearly 50 missions with over 90 spacecraft under production.