Shares of aerospace and defense company RTX climbed 3.4% in afternoon trading after its Raytheon business secured a $1.1 billion contract from the U.S. Navy.
The contract covers production of AIM-9X Block II missiles along with associated hardware and software for both U.S. military forces and foreign allies.
The deal comes in response to increased demand for the advanced air-to-air missiles, which are used across a wide range of military platforms.
To meet growing order volumes, Raytheon is expanding its production capacity to 2,500 missiles annually, a significant scaling of its manufacturing operations.
Shares of RTX were trading at $198.86, up 3.7% from the previous close, reflecting strong investor confidence in the contract win.
The stock is not considered highly volatile, having recorded only one move greater than 5% over the past year, making today’s gain especially notable.
The largest single-day move in the past year came eight months ago, when RTX shares jumped 9.5% following a strong third-quarter 2025 earnings report.
In that quarter, RTX posted revenue of $22.48 billion, an 11.9% year-on-year increase that surpassed analyst estimates, while adjusted earnings per share came in at $1.70, up from $1.45 in the same period the prior year.
That figure comfortably beat Wall Street’s consensus estimate of $1.41 per share, prompting the company to raise its full-year adjusted sales guidance to a midpoint of $86.75 billion.
RTX also lifted its adjusted earnings per share guidance to a midpoint of $6.15 following that strong quarterly performance.
The stock is up 6.2% since the start of the year and is trading close to its 52-week high of $212.16, reached in March 2026.
Investors who purchased $1,000 worth of RTX shares five years ago would now hold an investment worth approximately $2,294, reflecting the company’s steady long-term gains.
Wall Street analysts maintained a bullish consensus on the stock heading into today’s session, providing an already favorable backdrop for the contract announcement.
The Navy contract reinforces RTX’s position as a key supplier of advanced weapons systems at a time when global defense spending continues to rise.
