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Wajeeh Khan

RTX Stock Alert: What to Know as Raytheon Nabs $23 Billion Navy Contract

RTX Navy Pratt Whitney Raytheon Technologies

Raytheon Technologies (RTX) shares are extending gains on Aug. 17 after the NYSE-listed firm secured a fresh $22.9 billion contract from the U.S. Navy. The landmark seven-year deal aims to accelerate the production of Tomahawk cruise missiles, scaling the annual output to over 1,000 missiles to meet rising global demand.

Following today’s rally, RTX stock is trading about 20% above the price at which it started 2026.

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