RTX Corporation - RTX STOCK NEWS

RTX (NYSE: RTX) demonstrated new launched effects autonomy capabilities at the U.S. Army's Experimental Demonstration Gateway Event (EDGE). Collins Aerospace and Raytheon, both RTX businesses, showcased collaborative mission autonomy solutions for small, uncrewed aircraft. Collins demonstrated its RapidEdge™ mission system, while Raytheon deployed autonomy capabilities from the Collaborative Operations in Denied Environment program and Coyote® family of unmanned aircraft systems.

The demonstration showed how autonomous sensing and effects can extend the Army's reach in challenging environments. The systems demonstrated interoperability and the ability to execute missions even when command links to ground operators were severed. This event was part of the U.S. Army Future Command's efforts to advance manned and unmanned teaming capabilities for targeting, reconnaissance, and lethality.

The U.S. Army has awarded the Javelin Joint Venture (JJV) two production contracts totaling $267 million for Lightweight Command Launch Units (LWCLU). These contracts support the U.S. Army and Foreign Military Sales for Estonia, Latvia, and Lithuania. The LWCLU is 30% smaller and 25% lighter than the current Block I Command Launch Unit, while doubling target detection and recognition.

The contracts include a full-rate production contract and a second low-rate initial production contract. The LWCLU offers day and night engagement capability and is compatible with all Javelin variants. To date, the JJV has produced over 50,000 Javelin missiles and 12,000 reusable Command Launch Units. Production work will take place in Tucson, with estimated completion in 2026 and 2028.

Raytheon, an RTX business, successfully demonstrated the capabilities of its Ku-band Radio Frequency Sensor (KuRFS) and Coyote™ Block 2 and Block 3 effectors during the U.S. Army's annual summer test period. The systems were tested as part of the Low, slow, small-unmanned aircraft Integrated Defense System (LIDS), the Army's counter-drone solution. KuRFS excelled in detecting and tracking drone swarms, while Coyote defeated single and multiple targets with reduced engagement timelines. The tests validated recent software enhancements for both systems.

The U.S. Army is strengthening its counter-drone defenses with $374.8 million in recent contracts for LIDS equipment and support services. Raytheon has increased production capacity for the Coyote kinetic effector to meet growing demand.

Raytheon, an RTX business, has been awarded a $736 million contract by the U.S. Navy to produce AIM-9X SIDEWINDER missiles. The contract focuses on the improved Block II variant, which addresses hardware obsolescence and ensures superior performance and long-term reliability. The AIM-9X is described as the most advanced infrared-tracking, short-range, air-to-air and surface-to-air missile in the world.

The missile is compatible with various modern aircraft and provides layered defense capabilities, including integration with the National Advanced Surface-to-Air Missile System (NASAMS). Used by over 30 allied and partner nations, the AIM-9X continues to gain international interest, with the Czech Republic becoming the most recent customer in March 2024. The contract work will be carried out at various locations within the continental U.S. through 2029.

RTX (NYSE: RTX) has announced that its Board of Directors has declared a quarterly cash dividend of 63 cents per outstanding share of RTX common stock. The dividend is set to be paid on December 12, 2024, to shareholders of record at the close of business on November 15, 2024. This declaration continues RTX's long-standing tradition of paying cash dividends, which the company has maintained every year since 1936.

Raytheon, an RTX business, has successfully completed hydrodynamic testing for the Barracuda Mine Neutralization System at the Naval Surface Warfare Center Carderock Division. The tests, using a production representative unit, demonstrated Barracuda's ability to operate in various sea states and water currents, as well as detect, track, and hold position on targets autonomously.

This milestone brings the program closer to meeting operational requirements. Barbara Borgonovi, president of Naval Power at Raytheon, emphasized Barracuda's significance in advancing underwater security and naval defense. The system, which is the U.S. Navy's program of record for next-generation mine neutralization, uses sonar and camera systems to locate and neutralize undersea mine threats.

Raytheon was initially awarded the Barracuda contract in 2018. The program completed its critical design review in March 2023 and is now in the qualification testing phase. In July 2023, Raytheon received a contract to deliver engineering development model units to the U.S. Navy. Low-Rate Initial Production is scheduled for 2027.

Raytheon, an RTX business, has been awarded a three-year, two-phase contract from DARPA to develop foundational ultra-wide bandgap semiconductors (UWBGS) based on diamond and aluminum nitride technology. This new class of materials offers improved conductivity and thermal management properties, revolutionizing semiconductor electronics.

The contract's first phase focuses on developing diamond and aluminum nitride semiconductor films and integrating them into electronic devices. The second phase aims to optimize and mature the technology for larger diameter wafers in sensor applications.

UWBGS offer advantages over traditional semiconductors, enabling compact, high-power RF switches, limiters, and power amplifiers. The goal is to develop materials for extended capability and range in radar and communication systems, including cooperative sensing, electronic warfare, directed energy, and circuitry in high-speed weapon systems like hypersonics.

Pratt & Whitney, an RTX business (NYSE: RTX), has opened its largest military engines facility in Oklahoma City, Oklahoma. The 845,000-square-foot facility represents a $255 million investment and will support global sustainment for F135, F117, TF33, F100, and F119 engines. This expansion more than doubles Pratt & Whitney's footprint in Oklahoma City and will create an additional 100 full-time jobs over the next five years.

The new facility features automation and advanced technologies to improve accuracy, speed, and cost-effectiveness. It incorporates LEED-certified energy-efficient systems and waste reduction processes, reflecting RTX's commitment to sustainability. Located alongside Tinker Air Force Base, the site will enhance Pratt & Whitney's global sustainment network and support its public-private partnership with the U.S. Air Force.

Raytheon, an RTX business, has secured a $192 million contract from the U.S. Navy to develop the Next Generation Jammer Mid-Band Expansion (NGJ-MBX). This upgrade to the current NGJ-MB system will extend its frequency range to counter additional threats and improve operational effectiveness. The NGJ-MB, including MBX, is a cooperative program with the Royal Australian Air Force and is employed on the EA-18G GROWLER® to target advanced electronic warfare threats.

Barbara Borgonovi, president of Naval Power at Raytheon, emphasized the importance of Offensive Electronic Attack in supporting strike packages and kinetic weapons across various missions. The contract work will be carried out in Dallas, Forest (Michigan), El Segundo (California), and Fort Wayne (Indiana) through 2027.