Pentagon Awards Raytheon Technologies $985 Million Contract

The security is trading below its year-to-date breakeven mark

Deputy Editor
Sep 23, 2022 at 10:27 AM
facebook X logo linkedin

Raytheon Technologies Corp (NYSE:RTX) just secured a major contract to develop hypersonic attack cruise missile prototypes for the U.S. Air Force. The Pentagon on Thursday confirmed the $985 million contract, with Raytheon beating out defense-sector peers Boeing (BA) and Lockheed Martin (LMT).

Today, however, Raytheon stock is brushing off the upbeat news, and was last seen down 1.7% to trade at $81.89. The shares took a step back on the charts late last month, with pressure forming at its 10-day moving average. RTX is battling its year-to-date breakeven level as well, sitting just over 4% lower in 2022. 

Analysts are optimistic towards the security, with seven of the nine in coverage sporting a "buy" or better rating, while only two recommend a tepid "hold." Furthermore, the 12-month consensus target price of $109.39 is a hefty 31.1% premium to the stock's current perch. 



Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI