RTX Clinches a $1.2B Contract for Patriot Missile Defense System

Zacks03-27

RTX Corporation’s RTX business segment, Raytheon, recently won a $1.2 billion contract for delivering its Patriot air and missile defense systems to Germany. This should boost RTX’s revenue growth in ...

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This should boost RTX’s revenue growth in ...</p>\n\n<a href=\"https://finance.yahoo.com/news/rtx-clinches-1-2b-contract-142700508.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1988902786.USD","symbol_name":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/rtx-clinches-1-2b-contract-142700508.html","article_id":"2422917071","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/7eRsKL.I94cMt.7m77oPuw--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/2312f1ec53f8e6ac08d157577d8d2457"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2422917071","pubTimestamp":1711549620,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"RTX Corporation’s RTX business segment, Raytheon, recently won a $1.2 billion contract for delivering its Patriot air and missile defense systems to Germany. 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This should boost RTX’s revenue growth in the coming years, following the successful deliveries of the aforementioned Patriot missile.\nMore About the Patriot System\nPATRIOT is a long-range, high-altitude, all-weather missile defense system designed to counter threats from tactical ballistic missiles, cruise missiles and advanced fighter aircraft. The system consists of radars, command-and-control technology and other multiple interceptors. It is designed and engineered to detect tactical ballistic missiles, cruise missiles, drones, advanced aircraft and other threats.The strong demand the Patriot system enjoys in the missile defense space can be gauged from the fact that it offers air defense to 19 countries, including the United States, Germany and Ukraine.\nWhat’s Favoring RTX?\nAmid the widespread increase in geopolitical tensions worldwide, nations have been strengthening their defense arsenal manifold in recent times. With rapid technological upgrades, missile defense has steadily become pivotal in a nation’s defense strategy.With the United States being the world’s largest weapon supplier and RTX a prominent U.S. missile maker, the increased missile defense adoption by nations provides the company with solid growth opportunities. The latest contract win is a bright example of that.The fact that 240 Patriot fire units have been delivered so far and that 18 countries are presently utilizing PATRIOT for their integrated air and missile defense reflects the strong demand that this product enjoys in the missile defense market.Hostile activities like the Russian invasion of Ukraine and the ongoing unrest in the Middle East have been bolstering the demand for the missile market even more. The Mordor Intelligence firm predicts the global market for missiles and missile defense systems to grow at a CAGR of 4.82% between 2024 and 2029. This should benefit RTX, which has a handful of combat-proven missiles in its product portfolio, like the TOW missile, Guidance Enhanced Missile, the National Advanced Surface-to-Air Missile System, Tomahawk, Standard Missile 2 and a few more, in addition to the Patriot missile.\nPeer Prospects\nAs global threats continue to rise, apart from RTX, defense contractors that are likely to benefit from the growth opportunities offered by the missiles and missile defense system market are as follows:Northrop Grumman NOC: It creates and manufactures warheads, fuses, sophisticated high-speed propulsion systems and other missile components. The company is one of the top suppliers of solid rocket propulsion for air-launched missiles, interceptors, submarine-launched weapons and hypersonic missile systems.Northrop has a long-term (three to five years) earnings growth rate of 10.1%. The Zacks Consensus Estimate for NOC’s 2024 sales suggests growth of 4.6% from the prior-year reported figure.Lockheed Martin LMT: Its Missiles and Fire Control business unit develops, manufactures and supports advanced combat, missile, rocket, manned and unmanned systems for military customers. Some of its products are the PAC-3 family of missiles, M270, RRPR, THHAD and a few more.Lockheed has a long-term earnings growth rate of 4.2%. The Zacks Consensus Estimate for LMT’s 2024 sales implies growth of 2.7% from the prior-year reported figure.General Dynamics GD: Its Ordnance and Tactical Systems division creates, develops and manufactures an extensive array of highly advanced weapon systems for use by ground troops. It is the sole producer and system integrator of the 2.75-inch (70mm) Hydra-70 family of rockets.General Dynamics’ long-term earnings growth rate is pegged at 10.8%. The Zacks Consensus Estimate for GD’s 2024 sales calls for growth of 10.1% from the prior-year reported figure.\nPrice Movement\nIn the past six months, shares of RTX Corp. have decreased 33.4% compared to the industry’s growth of 8.1%.\nImage Source: Zacks Investment Research\nZacks Rank\nRTX Corporation currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nLockheed Martin Corporation (LMT) : Free Stock Analysis Report\nNorthrop Grumman Corporation (NOC) : Free Stock Analysis Report\nGeneral Dynamics Corporation (GD) : Free Stock Analysis Report\nRTX Corporation (RTX) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2422917071"}