Shares of RTX increased 3.4% during afternoon trading on July 3, 2026, following the announcement that the company’s Raytheon business received a $1.1 billion contract from the U.S. Navy. The agreement covers the manufacturing of AIM-9X Block II missiles, along with the necessary hardware and software components.
These systems are intended for use by both the United States military and allied foreign nations to address rising global demand.
To accommodate the expanded order volume, Raytheon is expanding its manufacturing capabilities to produce 2,500 missiles per year. This production increase aligns with broader trends in defense spending among Western countries. The contract award supported an already positive outlook from Wall Street analysts, who held a bullish consensus on the stock prior to the news.
At the time of the report, RTX shares were trading at $198.86, representing a 3.7% gain from the previous closing price. This movement placed the stock near its 52-week high of $212.16, which was recorded in March 2026. The company’s stock has historically shown low volatility, with only one trading day in the past year recording a price change exceeding 5%.
Consequently, this recent gain is viewed as a significant market reaction to the contract news.
The most substantial single-day price movement in the past year occurred eight months prior, when shares rose 9.5% after the company reported third-quarter 2025 earnings that surpassed expectations. During that quarter, RTX generated $22.48 billion in revenue, an 11.9% increase from the same period the previous year.