Raytheon Stock Consolidates On Contract Wins

  • Post category:Stock Trading
  • Reading time:6 mins read
Get Email Alerts and Follow Us:

Raytheon RTX stock is in a consolidation pattern as of July 10, 2023, as the company has landed some big contracts over the last week.

RTX stock chart on July 10 2023 in a consolidation pattern
RTX stock chart on July 10, 2023, in a consolidation pattern

Raytheon Technologies is an aerospace and defense company that specializes in the development and manufacturing of advanced technologies for customers in the government and commercial sectors. The company operates in four business segments: 1. Collins Aerospace: Collins Aerospace focuses on the design, production, and maintenance of aircraft systems and components. They provide a range of solutions, including avionics, interiors, power systems, and mission systems. 2. Pratt & Whitney: Pratt & Whitney is a leading provider of aircraft engines and auxiliary power units. They develop and manufacture engines for commercial and military aircraft, as well as provide maintenance, repair, and overhaul services. 3. Raytheon Intelligence & Space: Raytheon Intelligence & Space offers advanced technologies and services for intelligence, surveillance, and reconnaissance (ISR), cybersecurity, space exploration, and other defense-related applications. They provide solutions for both government and commercial customers. 4. Raytheon Missiles & Defense: Raytheon Missiles & Defense specializes in the development and production of advanced missile systems, air defense systems, radars, and other defense technologies. They provide solutions for land, sea, air, and space-based defense applications. Overall, Raytheon Technologies focuses on creating innovative solutions to meet the evolving needs of its customers in the aerospace and defense industries.

RTX awarded $5M task order under NASA xEVAS contract

On July 10, 2023, Collins Aerospace, an RTX business, announced it has been awarded a new task order under NASA’s Exploration Extravehicular Activity Services, or xEVAS, contract to modify the company’s current spacesuit to support lunar endeavors. The follow-on task order allows Collins to add on to the company’s new spacesuit design, developing elements that are compatible for use on the lunar surface as part of NASA’s Artemis missions. Collins was awarded a task order valued at $5M, following a proposal process that required the company to identify the methodologies to develop a crossover product.

“Our next-generation spacesuit design is nearly 90% compatible with a lunar mission,” said Dave Romero, director, EVA & Human Surface Mobility Systems for Collins Aerospace. “This formal contract award will support continued efforts to modify our next-generation spacesuit, making it suitable to tasks on the Moon.”

Pratt & Whitney engines selected to power A310neo aircraft for Viva Aerobus

On July 5, 2023, Pratt & Whitney, an RTX business, announced that Viva Aerobus has selected GTF engines to power an additional 90 Airbus (EADSY) A321neo firm aircraft orders, the first of which is expected to be delivered in 2027. Having previously ordered 65 GTF-powered A320neo family aircraft, the airline has now committed to 155 aircraft with GTF engines. Pratt & Whitney and Viva Aerobus have also extended their EngineWise Maintenance long-term agreement to cover the maintenance needs of the entire GTF-powered fleet.

“We have a long history with Viva Aerobus, starting with their V2500-powered A320ceos in 2014,” said Rick Deurloo, president of Commercial Engines at Pratt & Whitney. “With GTF engines delivering world-class fuel efficiency, we are pleased that Viva Aerobus continues to depend on us as they grow their airline with the most sustainable engines for single-aisle aircraft.”

RTX awarded a $117.5M contract by U.S. Army for targeting sensor systems

On July 5, 2023, RTX was awarded a $117.5 million contract by the U.S. Army for low-rate initial production of 3rd Generation Forward Looking Infrared, 3GEN FLIR, B-Kit sensors. The advanced targeting sensor systems enhance lethality, survivability and situational awareness in austere environments, providing combat overmatch for the Army’s ground combat platforms. “This technology supports the U.S. Army’s modernization effort to ensure the force is ready to address near-peer competitors,” said Torrey Cady, vice president, Electro-Optical & Infrared Solutions at Raytheon. “Our technological advancements in the sensors reduce latency and give military forces a critical battlefield edge by exceeding overall performance of prior generation systems.” Under the contract, RTX will deliver 3GEN FLIR B-Kit sensors for the United States Army’s combat platforms, which includes the advanced Abrams Main Battle Tanks and an option for optionally manned fighting vehicles.

RTX awarded $5.5B Air Force contract modification

On June 30, 2023, Raytheon has been awarded a $5.5B modification to a previously awarded contract for the F117 Engine Sustainment Support contract. The modification brings the total cumulative face value of the contract to $8.24B from $2.74B. Work will be performed in San Francisco, California; Columbus, Georgia; and Tinker Air Force Base, Oklahoma, and is expected to be completed by September 30, 2027. This contract involves Foreign Military Sales to the United Kingdom, Canada, Australia, United Arab Emirates, Qatar, India, and Kuwait. No funds are being obligated at the time of award. The Air Force Life Cycle Management Center is the contracting activity.

Raytheon Technologies Timeline

Get Email Alerts and Follow Us: