Raytheon Secures $1.7 Billion Patriot System Order from Spain
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Newsfilter
- Record Order Size: Raytheon has secured a $1.7 billion contract for Patriot air defense systems from Spain, marking the largest Patriot order in the country's history and significantly enhancing the company's position in the European defense market.
- System Modernization: The contract encompasses radars, launchers, command and control stations, and training equipment, aimed at modernizing Spain's air and missile defense capabilities, thereby bolstering national security and sovereignty.
- Local Collaboration: Raytheon's partnership with Spanish defense firm Sener to develop the electro-mechanical control system for the GEM-T missile further strengthens its global supply chain network while promoting local industry development.
- Global Impact: The Patriot system is the only combat-proven ground-based air and missile defense capability worldwide, serving as the foundational defense for 19 countries, which enhances Raytheon's competitiveness in the international defense market.
RTX
$187.285+Infinity%1D
Analyst Views on RTX
Wall Street analysts forecast RTX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RTX is 197.83 USD with a low forecast of 168.00 USD and a high forecast of 215.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
10 Buy
2 Hold
0 Sell
Strong Buy
Current: 185.680
Low
168.00
Averages
197.83
High
215.00
Current: 185.680
Low
168.00
Averages
197.83
High
215.00
About RTX
RTX Corporation is an aerospace and defense company, which provides advanced systems and services for commercial, military, and government customers worldwide. The Company operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. Collins Aerospace segment provides technologically advanced aerospace and defense products and aftermarket service solutions for civil and military aircraft manufacturers, commercial airlines, and regional, business and general aviation, as well as for defense and commercial space operations. The Pratt & Whitney segment supplies aircraft engines for commercial, military, business jet, and general aviation customers. The Raytheon segment provides defensive and offensive threat detection, tracking and mitigation capabilities for the United States and foreign government and commercial customers. The Raytheon designs, develops, and provides advanced capabilities in integrated air and missile defense, smart weapons, missiles and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
