RTX Receives $352 Million Contracts for Missile Systems

RTX Corporation (NYSE:RTX) ranks among the top picks for a retirement portfolio. The US Department of War reported that on September 26, RTX Corporation (NYSE:RTX) received several defense contracts worth about $352.6 million for a range of missile systems and associated services.

The most substantial award is a $160.9 million contract modification for the AIM-9X missile program that was previously approved. This upgrade involves producing a second source solid rocket motor assembly and WDU-17/B warhead for AIM-9X production.

Additionally, RTX Corporation (NYSE:RTX) was awarded a modification for the Maritime Strike Tomahawk program worth $80.2 million. This contract supports the continual advancement of seeker processor hardware and integration assets, which includes the purchase of 8 Ultra 1.1+ units and updated processor stacks.

RTX Corporation (NYSE:RTX) offers services and technologies to government, military, and commercial customers. The company operates through three main divisions: Collins Aerospace, Pratt & Whitney, and Raytheon.

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