Rheinmetall stock: Papperger buys after outlook cut

Rheinmetall disclosed new share purchases by management board member Armin Theodor Papperger on Friday, November 6, after the defense group lowered its 2026 outlook for a second time. The disclosure covers a EUR 502,484.40 purchase on Xetra on Thursday and a EUR 200,295.60 purchase on Tradegate on Friday. The official Rheinmetall investor-relations disclosure lists the transactions and their trading venues.

Management buys into the setback

The Thursday purchase covered 585 shares at an aggregate average price of 858.9477 euros. The Friday transaction covered 249 shares at 804.40 euros. Together, the disclosed purchases amount to EUR 702,780.00.

The buying follows Rheinmetall's revised 2026 sales forecast of roughly EUR 13.2 billion, below the previous range of EUR 13.7 billion to EUR 14.2 billion. The expected operating margin was reduced to about 18.5% from around 19%, with likely delays in the Boxer Arminius project and artillery ammunition acceptances pushing revenue and advance payments into 2027.

Strong nine-month figures face timing risk

Rheinmetall's first nine months still showed strong operating momentum. Revenue reached EUR 8.4 billion, up 38% from the prior-year period, while operating profit rose 69% to EUR 1.339 billion and the operating margin reached 16.0%.

Rheinmetall stock traded at 811.75 euros on Lang & Schwarz at 18:33 CET on Friday, November 6, 2026, 0.12 percent below the Xetra close of Friday. Investors can follow the real-time quote of Rheinmetall stock.

November 27 becomes the next test

The November 27 capital markets day is the next scheduled checkpoint. Investors will be looking for clearer timing on Arminius, ammunition deliveries and the conversion of the order backlog into revenue, profit and cash.

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