Rtx Corp (RTX) Secures $74M US Navy Contract

RTX Corporation (NYSE:RTX) is one of the best 52-week high stocks to buy now. On July 4, the company confirmed that its unit, Raytheon, has received a $74 million contract from the US Navy. The contract will cover the production of RAM-guided missile launching systems.

The contract will also cover the refurbishment of existing systems, as well as the upgrade of hardware and provision of spare parts. It is the most significant single order for US RAM launchers in over two decades, affirming a strong belief in RTX capabilities.

The $74 million contract underlines a strong bilateral relationship between the US and Germany, with Raytheon being elected as the prime contractor. Work under the contract is to be performed in the US, with completion expected by 2028.

Formerly Raytheon Technologies, RTX Corporation (NYSE:RTX) is a global aerospace and defense company. It develops and provides advanced technologies and systems for commercial, military, and government customers.

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Disclosure: None. This article is originally published at Insider Monkey.