Raytheon (RTX) Wins $23 Billion U.S. Navy Contract

RTX, the parent company of Raytheon, announced it has secured a major U.S. Navy contract worth approximately $23 billion for weapons systems and defense equipment. The deal strengthens the company's position as one of the Pentagon's key contractors amid rising U.S. defense budgets. Analysts note the contract will provide a stable revenue stream for years to come and could prompt upward revisions to stock price targets. The news comes amid broader investor interest in the defense sector driven by ongoing geopolitical tensions. RTX shares rose following the announcement.