RTX Corporation - RTX STOCK NEWS

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.

RTX (NYSE: RTX) has announced that it will release its third quarter 2024 earnings on Tuesday, October 22, 2024, before the stock market opens. The company will host a conference call at 8:30 a.m. ET on the same day to discuss the results. Investors and interested parties can access the conference call via a live webcast on the company's website at www.rtx.com. For those unable to attend the live event, a replay of the call will be made available on the website. Additionally, RTX will provide a downloadable presentation corresponding to the conference call prior to the event.

Pratt & Whitney, an RTX business, has been awarded a $1.3 billion contract to continue work on the F135 Engine Core Upgrade (ECU) for the F-35 fighter jet. The ECU will enhance engine durability and provide power and cooling for Block 4 and beyond capabilities across all F-35 variants.

Key points:

• The contract enables continued design maturation and aircraft integration
• Over 700 engineers and program managers are working full-time on the program
• The F135 program supports more than 57,000 jobs across 43 states
• Pratt & Whitney has delivered over 1,200 F135 production engines with more than 900,000 flight hours
• The ECU will be incorporated into new F-35s and retrofitted at multiple depot facilities worldwide

Raytheon, an RTX business, has delivered its first sensor payload for the U.S. Space Force's Next-Generation Overhead Persistent Infrared (Next-Gen OPIR) Geosynchronous Earth Orbit (GEO) Block 0 missile warning satellite. This delivery to prime contractor Lockheed Martin keeps the project on track for a 2025 initial launch capability. The Next-Gen OPIR GEO satellites aim to enhance missile warning resilience and performance, with two satellites eventually providing continuous coverage over mid-latitudes.

Prior to delivery, Raytheon completed important assessments, including thermal vacuum testing to validate digital models and ensure the sensor meets design requirements. The second sensor payload is over 60% complete and scheduled for thermal vacuum testing in early 2025. These payloads are designed to offer early, resilient warning against increasingly challenging ballistic threats from adversaries.

Raytheon, an RTX business, has secured a $525 million contract from the U.S. Navy to produce ESSM Block 2 missiles and spares for the U.S. and allied nations. The ESSM Block 2 is a short to medium-range, ship-launched, dual-mode guided missile with increased maneuverability and improved performance over its predecessor.

Key features of the ESSM Block 2 include:

• Reduced dependence on shipboard illumination
• Integration with various combat systems and launchers
• Improved performance in stressing marine environments
• Significant digital processing margin for future software improvements

The missile is managed by the NATO SEASPARROW Consortium, comprising 12 nations, and represents over 50 years of international military-industrial cooperation.