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Raytheon (RTX) Wins $2B Deal to Support LRSO Weapon System
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Raytheon Technologies, Corp’s (RTX - Free Report) business unit, Missiles and Defense, recently secured a contract to conduct the engineering and manufacturing development (EMD) phase of the Long-Range Standoff (LRSO) Weapon System. The award has been offered by the Air Force Nuclear Weapons Center, Eglin Air Force Base, FL.
Valued at $2 billion, the contract is expected to get completed by February 2027. Work related to the deal will be executed in Tucson, AZ.
Raytheon’s Missile Strength
Raytheon Missiles & Defense (RMD) is a leading designer, developer, integrator producer and sustainer of integrated air and missile defense systems, with the unit serving as a prime contractor or major subcontractor on numerous missile and related programs with the U.S. Department of Defense (DoD).
Its expertise in manufacturing combat proven missiles has been consistently boosting performance of the RMD unit. The latest contract win will bolster this unit’s performance in the coming days.
To this end, it is imperative to mention that the U.S. Air Force plans to buy up to 1,000 Long-Range Standoff Weapons to replace the Air Launched Cruise Missile first fielded in 1982, as reported by Bloomberg News, last week. So we expect a smooth inflow of contracts for Raytheon in the coming days from Pentagon, involving LRSO missiles, which should further benefit Raytheon.
Budget Aiding Growth Prospects
The U.S. fiscal 2022 defense budget proposal provisioned $20.4 billion for investments in missile defense. This should enable Raytheon Technologies to clinch more contracts related to missile defense systems and associated services, considering the company’s proven expertise in varied missile systems.
Other major missile defense players like Northrop (NOC - Free Report) , Boeing (BA - Free Report) and Lockheed Martin (LMT - Free Report) are also expected to benefit from the aforementioned budget provision.
Price Performance and Zacks Rank
Shares of Raytheon have gained 23.4% in the past six months compared with the industry’s increase of 13.2%.
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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Raytheon (RTX) Wins $2B Deal to Support LRSO Weapon System
Raytheon Technologies, Corp’s (RTX - Free Report) business unit, Missiles and Defense, recently secured a contract to conduct the engineering and manufacturing development (EMD) phase of the Long-Range Standoff (LRSO) Weapon System. The award has been offered by the Air Force Nuclear Weapons Center, Eglin Air Force Base, FL.
Valued at $2 billion, the contract is expected to get completed by February 2027. Work related to the deal will be executed in Tucson, AZ.
Raytheon’s Missile Strength
Raytheon Missiles & Defense (RMD) is a leading designer, developer, integrator producer and sustainer of integrated air and missile defense systems, with the unit serving as a prime contractor or major subcontractor on numerous missile and related programs with the U.S. Department of Defense (DoD).
Its expertise in manufacturing combat proven missiles has been consistently boosting performance of the RMD unit. The latest contract win will bolster this unit’s performance in the coming days.
To this end, it is imperative to mention that the U.S. Air Force plans to buy up to 1,000 Long-Range Standoff Weapons to replace the Air Launched Cruise Missile first fielded in 1982, as reported by Bloomberg News, last week. So we expect a smooth inflow of contracts for Raytheon in the coming days from Pentagon, involving LRSO missiles, which should further benefit Raytheon.
Budget Aiding Growth Prospects
The U.S. fiscal 2022 defense budget proposal provisioned $20.4 billion for investments in missile defense. This should enable Raytheon Technologies to clinch more contracts related to missile defense systems and associated services, considering the company’s proven expertise in varied missile systems.
Other major missile defense players like Northrop (NOC - Free Report) , Boeing (BA - Free Report) and Lockheed Martin (LMT - Free Report) are also expected to benefit from the aforementioned budget provision.
Price Performance and Zacks Rank
Shares of Raytheon have gained 23.4% in the past six months compared with the industry’s increase of 13.2%.
The company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>