RTX stock climbs on a $22.9 billion Navy contract

RTX Corporation (US75511L1035) is drawing attention after Raytheon won a $22.9 billion U.S. Navy contract on August 17, 2026, while the company's most recent quarter delivered $1.89 in EPS on $24.71 billion in revenue. The award adds a fresh defense catalyst to a stock that closed at $222.97 on August 14, 2026 and sits near its 52-week high of $226.88.

The contract covers Tomahawk cruise missiles and runs for seven years, with annual production set to climb to more than 1,000 missiles from 60 a year. That scale matters because RTX said Tomahawk deliveries in the first half of 2026 were three times higher than in the first half of 2025, a concrete sign that missile output is already moving higher.

Tomahawk becomes the hook

Raytheon, an RTX business, said the award is part of the Department of War's Arsenal of Freedom and will support a broader production ramp across suppliers and facilities. The U.S. Navy said the contract is meant to speed delivery of critical long-range strike capability and reduce procurement lead times.

For investors, the key number is not only the contract value but the production path behind it: $22.9 billion, seven years, and more than 1,000 missiles a year. That combination gives the defense segment a clearer revenue backdrop than a one-off order would.

Quarterly beat still matters

RTX's latest reported quarter, on July 23, 2026, showed EPS of $1.89 versus $1.66 expected and revenue of $24.71 billion versus $22.89 billion expected. Revenue rose 14.5% from the prior year period, and the company set FY 2026 EPS guidance at $7.10 to $7.25.

The comparison stands out because the beat was broad, not narrow: EPS was ahead by $0.23, and revenue cleared estimates by $1.82 billion. On the current analyst side, the same data set points to a mean target of $232.27 against a last close of $222.97.

What the defense mix says

Raytheon's Tomahawk line is only one part of RTX, but it is the business line now carrying the clearest operational signal. The company's 2025 sales were more than $88 billion, and the latest contract reinforces the role of missiles and defense systems inside that mix.

Tomahawk production ramps

Tomahawk cruise missiles remain one of the group's representative products, and the new contract extends that franchise over several years. The company said it will expand capacity with hundreds of suppliers nationwide and keep building out production to meet long-term demand.

RTX shares closed at $222.97 on August 14, 2026, with a 52-week range of $150.61 to $226.88 and a market cap of $300.51 billion. The stock now trades just under the upper end of that range, with the market already pricing in a sizable part of the defense story.

Fact box

Company: RTX Corporation

ISIN: US75511L1035

Ticker: RTX

Exchange: NYSE

Price (as of August 14, 2026, 4:00 p.m. ET): $222.97 USD

Market cap: $300.51 billion

Sector / Industry: Aerospace & Defense

Index membership: S&P 500

Next earnings date: October 23, 2026

More on RTX stock

Tomahawk cruise missiles are a long-range strike weapon used by the U.S. Navy and allied forces, and RTX said the new award supports both production and associated support equipment. The contract also ties the product line to a multi-year manufacturing buildout rather than a single shipment cycle.