L3Harris vs RTX: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

L3Harris Technologies Inc (LHX)

Q3 202629 Jun – 4 Oct 2026

▲3▼1

L3Harris wins big contracts but CEO ousted and IPO delayed

Major contract wins across defense programs L3Harris won a $614M USSOCOM countermeasure deal, up to $499.6M from the Missile Defense Agency, an $84M Army radio order, 18 missile-tracking satellites, a $139M Navy submarine masts contract, Vampire counter-drone selection, and a $461.9M satellite communications award. These wins show strong demand across multiple defense areas.
These new contracts are the main positive force driving future revenue and investor confidence.
Lockheed Martin propulsion contracts for PAC-3 and THAAD L3Harris secured Lockheed Martin contracts for PAC-3 ($4.7B) and THAAD ($6B+) propulsion, reinforcing its role as a key supplier for missile defense systems. This adds significant long-term revenue potential.
These large contracts are new and directly boost L3Harris's order book and growth outlook.
Strong Q2 earnings beat and raised guidance L3Harris reported Q2 EPS of $3.13, beating expectations, and raised its full-year guidance. This reflects solid operational execution and supports a positive earnings trajectory.
The earnings beat and guidance raise are new financial results that signal company health.
CEO ousted, IPO delayed, and defense sector selloff CEO Christopher Kubasik was abruptly ousted over a conduct violation, the Missile Solutions IPO was delayed to mid-2027, and defense stocks sold off over 20% on already-priced-in expectations. A stalled defense spending bill also threatens funding. These issues create uncertainty and pressure the stock.
These negative events are new and explain the 11% share price decline during the period.

September 202630 Aug – 4 Oct 2026

▲4

L3Harris wins major defense contracts as missile demand surges

Navy submarine masts contract L3Harris won a $139 million Navy contract to make photonics masts for submarines, with work funded through 2030. This adds steady, long-term revenue and shows the Navy relies on L3Harris for key submarine parts, supporting the stock.
New contract win directly adds to backlog and revenue visibility.
Navy counter-drone selection and PAC-3 propulsion deal The Navy picked L3Harris's Vampire counter-drone system, and L3Harris disclosed a $4.7 billion Lockheed Martin contract for PAC-3 missile propulsion—its largest ever. Both reflect rising Pentagon demand for drones and missile defense, boosting future sales.
Two new contract wins show growing demand and expand L3Harris's order book.
THAAD propulsion contract over $6 billion L3Harris secured a seven-year, over $6 billion contract from Lockheed Martin to expand THAAD missile propulsion production. This concrete order feeds its backlog and confirms L3Harris's key role in missile defense, even as the stock has fallen recently.
Large new contract directly boosts future revenue and backlog.
Satellite communications contract $461.9M L3Harris won a $461.9 million contract to provide satellite communications for executive airlift aircraft through 2028. This adds another steady revenue stream and reinforces its space and communications business.
New contract win adds to backlog and revenue.

Latest30 Aug – 4 Oct 2026

▲4

L3Harris wins major defense contracts as missile demand surges

Navy submarine masts contract L3Harris won a $139 million Navy contract to make photonics masts for submarines, with work funded through 2030. This adds steady, long-term revenue and shows the Navy relies on L3Harris for key submarine parts, supporting the stock.
New contract win directly adds to backlog and revenue visibility.
Navy counter-drone selection and PAC-3 propulsion deal The Navy picked L3Harris's Vampire counter-drone system, and L3Harris disclosed a $4.7 billion Lockheed Martin contract for PAC-3 missile propulsion—its largest ever. Both reflect rising Pentagon demand for drones and missile defense, boosting future sales.
Two new contract wins show growing demand and expand L3Harris's order book.
THAAD propulsion contract over $6 billion L3Harris secured a seven-year, over $6 billion contract from Lockheed Martin to expand THAAD missile propulsion production. This concrete order feeds its backlog and confirms L3Harris's key role in missile defense, even as the stock has fallen recently.
Large new contract directly boosts future revenue and backlog.
Satellite communications contract $461.9M L3Harris won a $461.9 million contract to provide satellite communications for executive airlift aircraft through 2028. This adds another steady revenue stream and reinforces its space and communications business.
New contract win adds to backlog and revenue.

August 20264 Aug – 20 Aug 2026

▲2▼1

CEO exit jolts L3Harris, but defense demand and space deals stay strong

CEO and chairman ousted over conduct violation L3Harris abruptly replaced Chairman and CEO Christopher Kubasik after a board investigation found his conduct violated the company's code. The stock fell 4.6% on the news. Leadership uncertainty can weigh on shares, though the company reaffirmed its 2026 financial outlook and said the matter did not affect operations or reporting.
This is the single biggest new event and the main reason the stock moved this period.
Pentagon pushes for faster weapons production The Pentagon gave defense contractors 21 days to propose faster deliveries and higher output of priority weapons, citing severe shortages of missile interceptors after the Iran conflict. L3Harris, a major missile and communications supplier, could win additional orders and capacity funding. A stalled defense spending bill in Congress is a risk to how much actually gets funded.
This is a new demand catalyst that directly affects L3Harris's order pipeline.
Space and missile defense contract wins L3Harris completed the $845 million sale of a majority stake in its commercial space unit, keeping about 40% and using proceeds to invest in growth. It also won a $12 million Space Force contract to help break SpaceX's orbital monopoly, and its missile defense mission added Intuitive Machines as a supplier of 18 spacecraft platforms.
These new deals show L3Harris is winning work and raising cash for investment, supporting future revenue.

4 Aug – 20 Aug 2026

▲2▼1

CEO exit jolts L3Harris, but defense demand and space deals stay strong

CEO and chairman ousted over conduct violation L3Harris abruptly replaced Chairman and CEO Christopher Kubasik after a board investigation found his conduct violated the company's code. The stock fell 4.6% on the news. Leadership uncertainty can weigh on shares, though the company reaffirmed its 2026 financial outlook and said the matter did not affect operations or reporting.
This is the single biggest new event and the main reason the stock moved this period.
Pentagon pushes for faster weapons production The Pentagon gave defense contractors 21 days to propose faster deliveries and higher output of priority weapons, citing severe shortages of missile interceptors after the Iran conflict. L3Harris, a major missile and communications supplier, could win additional orders and capacity funding. A stalled defense spending bill in Congress is a risk to how much actually gets funded.
This is a new demand catalyst that directly affects L3Harris's order pipeline.
Space and missile defense contract wins L3Harris completed the $845 million sale of a majority stake in its commercial space unit, keeping about 40% and using proceeds to invest in growth. It also won a $12 million Space Force contract to help break SpaceX's orbital monopoly, and its missile defense mission added Intuitive Machines as a supplier of 18 spacecraft platforms.
These new deals show L3Harris is winning work and raising cash for investment, supporting future revenue.

July 202629 Jun – 30 Jul 2026

▲2▼2

L3Harris wins contracts but IPO delay and high expectations drag stock

Major contract wins L3Harris won a $614M USSOCOM countermeasure contract, a follow-on Missile Defense Agency award worth up to $499.6M, an $84M Army radio order, and a Space Force deal for 18 missile-tracking satellites. These wins show strong demand across defense and space.
These new contracts are key positive developments that could drive future revenue.
Strong Q2 earnings and raised guidance L3Harris reported Q2 earnings per share of $3.13, beating expectations, and raised its 2026 guidance. A seven-year, ~$12B THAAD/PAC-3 framework also adds long-term visibility. This signals solid financial health and growth prospects.
Earnings beat and raised guidance are fundamental positives for the stock.
Missile Solutions IPO delayed The planned Missile Solutions IPO was delayed to at least mid-2027 due to poor market conditions, causing shares to drop 11% despite the earnings beat. The delay removes a near-term catalyst and signals market challenges.
This delay directly hurt investor sentiment and stock price.
Defense sector sell-off on high expectations Defense stocks fell over 20% even as $37.5B in Iran war spending was announced, because investors had already priced in a windfall. This shows that strong news may not lift shares when expectations are too high.
This sector-wide pressure weighed on L3Harris despite positive company news.

25 Jul – 30 Jul 2026

▲2▼2

L3Harris beats earnings, raises guidance, but missile IPO delay sinks stock

Q2 earnings beat and raised 2026 guidance L3Harris reported Q2 EPS of $3.13, beating estimates, and raised full-year EPS guidance to $11.80-$12.00 and revenue to $23.2-$23.7B. This shows the core business is growing and more profitable than expected, which supports a higher stock price over time.
This is the main positive fundamental news that would normally lift the stock and shows underlying business strength.
Seven-year $12B THAAD/PAC-3 framework agreement L3Harris signed a seven-year framework agreement for THAAD and PAC-3 production, representing about $12 billion in future revenue and $2 billion in profit. This locks in long-term demand for missile defense products, boosting revenue visibility and investor confidence.
This is a major new contract that significantly adds to backlog and future earnings, a key driver of the stock's value.
Missile Solutions IPO delayed to mid-2027 L3Harris delayed the planned spinoff and IPO of its missile business until at least mid-2027, citing poor market conditions. Investors who expected a near-term payout or value unlock were disappointed, causing the stock to drop 11% despite strong earnings.
This is the immediate cause of the stock's sharp decline and a key negative driver this period.
Defense stocks fall despite war spending; good news priced in Even with $37.5 billion spent on the Iran war, L3Harris shares have fallen over 20% as investors had already priced in a defense windfall. This shows that positive news may not lift the stock if expectations were too high, a real counterweight to the bullish contracts.
This explains the broader negative sentiment and why the stock has been weak despite contract wins, providing important context.

29 Jun – 15 Jul 2026

▲4

L3Harris wins new defense contracts, expands space and communications footprint

USSOCOM RF countermeasure contract L3Harris won a $614 million contract to support USSOCOM's radio frequency countermeasure systems. This steady, long-term support work adds to its backlog and reinforces its role in electronic warfare, supporting future revenue.
New contract award directly boosts demand for L3Harris's services.
Missile Defense Agency follow-on contract L3Harris secured a follow-on contract worth up to $499.6 million for the Missile Defense Agency's Flight Test Airborne Sensor program. This extends its work on missile defense testing, providing long-term revenue visibility through 2036.
New contract award shows continued demand for L3Harris's missile defense services.
Army NGC2 manpack radio order The U.S. Army awarded L3Harris $84 million for Next Generation Command and Control manpack radios. This is the second order under the program, showing growing adoption of its tactical communications gear and supporting future sales.
New order demonstrates expanding demand for L3Harris's communications products.
Space Force missile-tracking satellite contract L3Harris won a contract to build 18 missile-tracking satellites for the U.S. Space Force's Golden Dome system. This large award expands its space business and positions it for more work in missile defense, a growing priority.
New major contract in space defense, a key growth area for L3Harris.

Q2 202617 Jun – 25 Jun 2026

▲4

L3Harris expands missile and comms output as defense demand builds

Counter-drone partnership with Skydagger L3Harris will integrate Skydagger's interceptor technology into its Vampire counter-drone system, with any new interceptor drone made in the U.S. for allied militaries. This strengthens its product lineup in a fast-growing area of defense spending, supporting future revenue.
New partnership expands L3Harris's counter-drone offerings, a key growth area.
First VC-25B Bridge aircraft delivered to Air Force L3Harris delivered the first VC-25B Bridge aircraft to the U.S. Air Force, a modified 747-8i that will serve as a temporary Air Force One. The milestone confirms execution on a high-profile government contract and supports future demand for similar modifications.
Major delivery milestone that validates L3Harris's ability to win and execute large government programs.
Missile production surge and Axyv IPO highlight growth Gabelli's Bancroft sees a multi-year missile production surge, noting L3Harris's Missile Solutions revenue rose 18% to $990 million and its planned Axyv IPO could raise up to $2 billion. This points to strong demand and a potential catalyst for the stock.
Analyst highlights missile growth and upcoming IPO as key drivers for L3Harris.
PAC-3 propulsion expansion and German Falcon orders L3Harris broke ground on two self-funded PAC-3 propulsion facilities in Arkansas and won two Foreign Military Sales orders for Falcon systems for Germany. Both moves expand capacity and demand, reinforcing its role in missile propulsion and NATO communications.
New capacity and orders directly support revenue growth in key defense segments.

June 202617 Jun – 25 Jun 2026

▲4

L3Harris expands missile and comms output as defense demand builds

Counter-drone partnership with Skydagger L3Harris will integrate Skydagger's interceptor technology into its Vampire counter-drone system, with any new interceptor drone made in the U.S. for allied militaries. This strengthens its product lineup in a fast-growing area of defense spending, supporting future revenue.
New partnership expands L3Harris's counter-drone offerings, a key growth area.
First VC-25B Bridge aircraft delivered to Air Force L3Harris delivered the first VC-25B Bridge aircraft to the U.S. Air Force, a modified 747-8i that will serve as a temporary Air Force One. The milestone confirms execution on a high-profile government contract and supports future demand for similar modifications.
Major delivery milestone that validates L3Harris's ability to win and execute large government programs.
Missile production surge and Axyv IPO highlight growth Gabelli's Bancroft sees a multi-year missile production surge, noting L3Harris's Missile Solutions revenue rose 18% to $990 million and its planned Axyv IPO could raise up to $2 billion. This points to strong demand and a potential catalyst for the stock.
Analyst highlights missile growth and upcoming IPO as key drivers for L3Harris.
PAC-3 propulsion expansion and German Falcon orders L3Harris broke ground on two self-funded PAC-3 propulsion facilities in Arkansas and won two Foreign Military Sales orders for Falcon systems for Germany. Both moves expand capacity and demand, reinforcing its role in missile propulsion and NATO communications.
New capacity and orders directly support revenue growth in key defense segments.

17 Jun – 25 Jun 2026

▲4

L3Harris expands missile and comms output as defense demand builds

Counter-drone partnership with Skydagger L3Harris will integrate Skydagger's interceptor technology into its Vampire counter-drone system, with any new interceptor drone made in the U.S. for allied militaries. This strengthens its product lineup in a fast-growing area of defense spending, supporting future revenue.
New partnership expands L3Harris's counter-drone offerings, a key growth area.
First VC-25B Bridge aircraft delivered to Air Force L3Harris delivered the first VC-25B Bridge aircraft to the U.S. Air Force, a modified 747-8i that will serve as a temporary Air Force One. The milestone confirms execution on a high-profile government contract and supports future demand for similar modifications.
Major delivery milestone that validates L3Harris's ability to win and execute large government programs.
Missile production surge and Axyv IPO highlight growth Gabelli's Bancroft sees a multi-year missile production surge, noting L3Harris's Missile Solutions revenue rose 18% to $990 million and its planned Axyv IPO could raise up to $2 billion. This points to strong demand and a potential catalyst for the stock.
Analyst highlights missile growth and upcoming IPO as key drivers for L3Harris.
PAC-3 propulsion expansion and German Falcon orders L3Harris broke ground on two self-funded PAC-3 propulsion facilities in Arkansas and won two Foreign Military Sales orders for Falcon systems for Germany. Both moves expand capacity and demand, reinforcing its role in missile propulsion and NATO communications.
New capacity and orders directly support revenue growth in key defense segments.

RTX Corporation (RTX)

Q3 202629 Jun – 18 Sep 2026

▲3▼1

RTX Soars on Record Backlog, Tomahawk Deal, and Raised Guidance

Record $289B Backlog and Major Contract Wins RTX won a $22.9B Tomahawk deal, a £2B UK training contract, and $3.3B in new orders, pushing backlog to a record $289B. This signals strong demand and future revenue growth.
These new contracts and record backlog are key drivers of investor optimism and stock price.
Q2 Earnings Beat and Raised 2026 Guidance RTX beat Q2 expectations and raised 2026 EPS guidance to $7.10–7.25, with roughly $8.6B free cash flow expected. This reflects operational strength and boosts investor confidence.
Earnings beat and guidance raise directly influence stock price by improving future earnings outlook.
Pratt & Whitney Aftermarket Growth and F-35 Saudi Sale Pratt & Whitney's aftermarket business grew, and a proposed $24.3B F-35 sale to Saudi Arabia added upside. These developments support revenue and long-term demand.
Aftermarket growth and potential F-35 sale are positive catalysts for RTX's financial performance.
Risks: Oil Prices, Pentagon Budget Stalemate, F-35 Overruns Oil above $100 and possible Fed rate hikes could squeeze commercial aerospace. A stalled $1.5T Pentagon budget threatens funding timing, while F-35 cost overruns and upgrade delays pressure future orders.
These risks could negatively impact RTX's commercial and defense segments, weighing on the stock.

September 202631 Aug – 18 Sep 2026

▲3▼1

RTX Backlog Hits $289B as Missile and Engine Demand Surges

Record $289B Backlog and Strong Cash Flow Outlook CEO Calio said RTX's backlog is about $289 billion, excluding five major munitions framework deals and the $23 billion Tomahawk contract. He guided to roughly $8.6 billion of 2026 free cash flow and 19%-20% Collins margins, signaling years of steady sales and cash generation.
This is the clearest new big-picture signal of RTX's growth runway and financial health.
New Defense Contracts and International Demand RTX won a $472 million Chinook avionics contract, completed NASAMS delivery to Australia, and the Pentagon added SM-3 interceptor work. A proposed $24.3 billion F-35 sale to Saudi Arabia includes 49 Pratt & Whitney F135 engines. These add future revenue and show global demand for RTX weapons and engines.
These fresh awards and foreign sales directly expand RTX's order book and revenue visibility.
Pratt & Whitney Aftermarket and Engine Expansion Pratt & Whitney's GTF aftermarket network grew to 21 facilities and shop visits rose 26%, driving recurring maintenance revenue. Pratt also licensed Hermeus to build F100 fighter engines, adding U.S. production capacity. Pratt sales rose to $32.9 billion from $28.1 billion, with operating profit up to $2.6 billion.
This shows RTX's commercial engine business is growing profitably and adding capacity for future demand.
Trade Tensions Threaten Bombardier Avionics Sales A potential U.S. ban on Bombardier aircraft sales could hurt RTX's Collins Aerospace, which supplies avionics for Bombardier's Global and Challenger jets. The U.S. is Bombardier's largest market, and a ban could disrupt a supply chain involving thousands of U.S. companies, creating uncertainty for RTX's avionics revenue.
This is the main counterweight in the period, showing a real risk to part of RTX's business.

Latest31 Aug – 18 Sep 2026

▲3▼1

RTX Backlog Hits $289B as Missile and Engine Demand Surges

Record $289B Backlog and Strong Cash Flow Outlook CEO Calio said RTX's backlog is about $289 billion, excluding five major munitions framework deals and the $23 billion Tomahawk contract. He guided to roughly $8.6 billion of 2026 free cash flow and 19%-20% Collins margins, signaling years of steady sales and cash generation.
This is the clearest new big-picture signal of RTX's growth runway and financial health.
New Defense Contracts and International Demand RTX won a $472 million Chinook avionics contract, completed NASAMS delivery to Australia, and the Pentagon added SM-3 interceptor work. A proposed $24.3 billion F-35 sale to Saudi Arabia includes 49 Pratt & Whitney F135 engines. These add future revenue and show global demand for RTX weapons and engines.
These fresh awards and foreign sales directly expand RTX's order book and revenue visibility.
Pratt & Whitney Aftermarket and Engine Expansion Pratt & Whitney's GTF aftermarket network grew to 21 facilities and shop visits rose 26%, driving recurring maintenance revenue. Pratt also licensed Hermeus to build F100 fighter engines, adding U.S. production capacity. Pratt sales rose to $32.9 billion from $28.1 billion, with operating profit up to $2.6 billion.
This shows RTX's commercial engine business is growing profitably and adding capacity for future demand.
Trade Tensions Threaten Bombardier Avionics Sales A potential U.S. ban on Bombardier aircraft sales could hurt RTX's Collins Aerospace, which supplies avionics for Bombardier's Global and Challenger jets. The U.S. is Bombardier's largest market, and a ban could disrupt a supply chain involving thousands of U.S. companies, creating uncertainty for RTX's avionics revenue.
This is the main counterweight in the period, showing a real risk to part of RTX's business.

August 20266 Aug – 27 Aug 2026

▲2▼2

RTX Rides Defense Demand Surge, But Budget and F-35 Risks Loom

Raytheon Wins $22.9B Tomahawk Contract Raytheon won a seven-year, $22.9B Tomahawk contract, raising annual output from 60 to over 1,000 missiles and adding roughly $3.3B in yearly revenue. This significantly boosts RTX's long-term backlog and revenue visibility.
This is the largest new contract win in the period, directly driving RTX's revenue growth and backlog.
Additional Defense Awards and Expansion RTX also secured $1.28B for SM-3 IIA and TOW missiles, F135 engine work, missile testing, and a $50M Mississippi plant expansion. These wins reinforce strong demand across multiple defense programs.
These additional contracts and investments show broad-based demand and capacity expansion, supporting future growth.
Stalled Pentagon Budget Delays Funding A stalled $1.5T Pentagon budget and political disputes could delay funding for defense programs. This creates uncertainty for RTX's revenue timing and order flow.
This is a key risk that could slow down the positive momentum from new contracts.
F-35 Cost Overrun and Upgrade Delays The F-35 program's cost overrun has grown to $536B, with upgrade delays that may pressure RTX's future orders or pricing. This poses a risk to a major revenue source.
This is a significant program-specific risk that could impact RTX's financials and future contracts.

17 Aug – 27 Aug 2026

▲3▼1

RTX Lands $22.9B Tomahawk Deal, Expands Missile and Engine Work

Raytheon's $22.9B Tomahawk Contract Raytheon won a seven-year, $22.9 billion Navy contract to boost Tomahawk production from 60 to over 1,000 missiles a year. This locks in roughly $3.3 billion in annual revenue, directly lifting RTX's backlog and future sales.
This is the single largest new order and the main reason RTX is moving.
New Missile and Engine Contracts Raytheon began testing a new long-range air-to-air missile, Collins finished altitude testing on an F-35 cooling system, and RTX won a $240.75 million Navy contract for F135 engine work. These add future revenue and keep RTX tied to key defense programs.
These are fresh contract wins and technology milestones that support future growth.
Raytheon Expands Mississippi Plant Raytheon completed a $50 million expansion of its Forest, Mississippi plant, adding 100 jobs and capacity for electronic warfare and radar systems. This helps RTX produce more of the gear the Pentagon urgently wants, supporting future sales.
It shows RTX investing to meet demand, which supports revenue growth.
F-35 Cost Overrun Raises Questions The F-35 program's acquisition cost rose by $51 billion to $536 billion, with delays in upgrades. As a major supplier, RTX could face pressure on future orders or pricing, though the program remains huge and long-term.
It is the main counterweight to the positive news and affects RTX's F-35 work.

6 Aug – 14 Aug 2026

▲3

Pentagon Pushes RTX to Speed Missile Output as Orders Flow

Pentagon demands faster weapons production The Pentagon told RTX and other contractors to speed up deliveries of missile interceptors and air-defense gear, giving them 21 days to submit plans. This urgency signals more orders ahead, lifting RTX's future revenue and stock.
This is the period's main new force: a direct government push that expands RTX's order pipeline.
New $1.28B Raytheon contract awards Raytheon won two U.S. contracts worth $1.28 billion: $745 million for SM-3 IIA interceptors and $536 million for TOW missiles. These add to RTX's backlog and lock in revenue, supporting the stock.
Concrete new orders show the demand push is turning into real money for RTX.
Boeing framework to expand SM-3 output Boeing signed seven-year agreements with the Pentagon and Raytheon to boost production of SM-3 interceptor parts. As prime contractor, Raytheon benefits from higher output, which should increase future sales and profit.
It shows RTX's supply chain is being expanded to meet demand, a new positive for future revenue.
Missile shortage debate and funding risk Trump denied missile shortages, but reports say Patriot stocks fell over 65% and a $1.5 trillion Pentagon budget is stalled in Congress. Shortages drive urgent orders, but political fights could delay funding, creating uncertainty for RTX.
It is the real counterweight: demand is high, but funding and political risk could slow the benefit.

July 202629 Jun – 31 Jul 2026

▲3

RTX Surges on Defense Demand, Record Backlog, and Raised Guidance

NATO Summit Unlocks $57B Procurement NATO's Ankara summit unlocked $57B in procurement, and Germany agreed to buy Tomahawks and Typhon launchers. This boosts demand for RTX's defense products and supports revenue growth.
This is a major new demand driver that directly benefits RTX's defense segment.
RTX Wins Multiple Contracts Worth Billions RTX won a £2B UK training deal, a $1.1B Navy missile award, and $3.3B in new orders. These contracts add to backlog and signal strong global demand for RTX's defense offerings.
New contract wins are a direct positive catalyst for future revenue and earnings.
Q2 Beat and Raised 2026 Guidance Q2 results beat expectations, prompting raised 2026 EPS guidance of $7.10–7.25 and a record $289B backlog, up 22%. This reflects strong execution and robust demand across defense and aerospace.
Earnings beat and guidance raise are key drivers of stock price appreciation.
Commercial Wins Offset by Macro Risks British Airways selected GTF engines, a commercial win. However, oil above $100 and 83% odds of a September Fed rate hike could squeeze RTX's commercial aerospace business, even as defense demand remains strong.
This highlights both a positive commercial development and significant macroeconomic headwinds.

19 Jul – 31 Jul 2026

▲4

RTX Wins $3.3B in New Orders; Q2 Beat Already Known

Pentagon $18.2B Missile Replenishment Boosts RTX The Pentagon's $67B emergency funding request includes $18.2B to replace advanced missiles, with $3.28B specifically for RTX's Standard Missile interceptors. This directly increases demand for RTX weapons, adding to its backlog and future revenue, which supports the stock price.
This is a new, concrete funding request that directly benefits RTX's missile business, a key growth driver.
Pratt & Whitney Wins $1.3B F135 Sustainment Contract Pratt & Whitney received a $1.3B contract modification for F135 engine spare parts for the F-35 program. This long-term sustainment work provides steady aftermarket revenue and strengthens RTX's defense backlog, pushing the stock up.
This is a new contract award that adds to RTX's backlog and demonstrates ongoing demand for its engine services.
Pratt & Whitney Canada Wins $1B Military Engine Overhaul Pratt & Whitney Canada won a nine-year, $1B contract to overhaul PT6A-68 engines for the U.S. military's T-6 trainer fleet. This adds long-term revenue visibility and reinforces RTX's military sustainment business, supporting the stock.
This is a new contract award that adds to RTX's backlog and shows strength in its military engine services.
British Airways Selects Pratt & Whitney GTF Engines British Airways chose Pratt & Whitney GTF engines for up to 63 Airbus A320neo aircraft, including a 12-year maintenance agreement. This commercial win adds to RTX's engine order backlog and future service revenue, boosting the stock.
This is a new commercial order that expands RTX's GTF engine backlog and aftermarket services.

23 Jul – 23 Jul 2026

▲3

RTX Beats Q2, Raises 2026 Outlook on Record $289B Backlog

Q2 beat and raised 2026 guidance RTX reported Q2 adjusted EPS of $1.89 on $24.7B sales, up 16% organically, and raised 2026 sales to $95–96B and EPS to $7.10–$7.25. Higher profit and cash flow expectations make the stock more valuable, pushing shares up 7%.
This is the core new event that directly drove the stock's jump this period.
Record $289B backlog on Pentagon restocking RTX's backlog hit a record $289B, up 22%, with $119B in defense orders. Raytheon booked nearly $20B in awards and a 2.42 book-to-bill ratio. A bigger backlog means future revenue is already largely locked in, supporting the stock.
The record backlog is a new milestone that explains the demand behind the raised outlook.
Global conflicts deplete stockpiles, driving orders The U.S. has used over 50,000 rockets and missiles since the Russia-Ukraine war and strikes on Iran, forcing the Pentagon to restock. This steady demand for RTX weapons and maintenance lifts revenue and supports the stock.
It explains the real-world force behind the surge in orders and guidance.
Oil above $100 and Fed rate-hike odds weigh on market Brent crude topped $100 on Middle East strikes, and investors see an 83% chance of a September rate hike. Higher fuel and borrowing costs could squeeze airlines and the broader economy, a headwind for RTX's commercial aerospace business even as defense demand stays strong.
It is the main counterweight this period, showing a risk that could offset defense gains.

29 Jun – 17 Jul 2026

▲4

RTX Wins New Missile, Radar and Space Contracts as Backlog Swells

New defense contracts add billions to backlog RTX won a $1.1B Navy missile deal, a $310M Space Force radar modernization award, and smaller contracts for missile and aircraft parts. These add to its record $271B backlog and support future revenue, pushing the stock up.
Directly shows new orders that drive RTX's revenue and profit growth.
Strong demand from rising global defense budgets A proposed $1.45 trillion U.S. defense budget for 2027 and NATO's pledge to spend 5% of GDP on defense by 2035 are fueling demand. RTX's Raytheon unit is even studying expanding AMRAAM missile production in Europe.
Explains the big-picture tailwind behind RTX's order growth.
Technology investments boost efficiency and future sales Collins Aerospace opened a UK center for electric thrust reversers, Pratt & Whitney bought AI software to speed engine inspections, and Raytheon is building a large space telescope. These moves cut costs and open new markets, supporting the stock.
Shows how RTX is investing to improve margins and win future business.
RTX seen as a stable alternative to SpaceX With SpaceX posting big losses, analysts highlight RTX as a profitable, dividend-paying way to invest in space and defense. RTX's interceptor and radar expertise also positions it for the Golden Dome missile-defense initiative.
Reflects investor sentiment shifting toward established defense names like RTX.

7 Jul – 10 Jul 2026

▲4

NATO Summit Drives $57B in Deals, Boosting RTX Missile Demand

NATO Summit Spurs $57B in New Defense Procurement At the Ankara summit, NATO allies announced over $57 billion in new defense deals, including RTX doubling Stinger missile production with European partners. This directly boosts RTX's order book and revenue outlook, pushing the stock up.
This is the central event of the period, directly linking NATO spending to RTX's products and production expansion.
Germany to Buy RTX Tomahawk Missiles and Typhon Launchers Germany agreed to purchase U.S.-made Tomahawk cruise missiles and ground-based Typhon launchers from RTX, a significant new order. This adds to RTX's backlog and revenue, supporting the stock price.
A concrete new contract for RTX, showing direct benefit from European rearmament.
Raytheon UK-Led Consortium Wins £2B UK Army Training Contract Omnia Training, led by Raytheon UK, won a £2 billion 15-year contract to deliver the British Army's training system. This provides long-term revenue visibility and strengthens RTX's international services business.
A new, sizable contract award that diversifies RTX's revenue beyond missiles.
U.S. Defense Spending Surge and $400M AMRAAM Contract The U.S. plans $1 trillion defense spending in 2026 and a $1.5 trillion request for 2027. RTX also won a ~$400 million AMRAAM contract, adding to its $271 billion backlog and supporting future growth.
Highlights the broader budget tailwind and a specific new contract that reinforce RTX's growth trajectory.

Q2 202617 Jun – 26 Jun 2026

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RTX Wins $1.5B Missile Deals, Sells Space Unit, Faces China Supply Risk

Raytheon wins $1.5B in missile contracts Raytheon won a $398.7M AMRAAM contract and a $1.1B AIM-9X missile contract, both with foreign military sales funding. These awards add to RTX's record $271B backlog and support revenue growth, pushing the stock up.
New contract wins directly boost future revenue and investor confidence.
Record $271B backlog and strong defense demand RTX's total backlog hit a record $271B, with defense up 18.5% to $109B. A military expert warned munitions deliveries are years behind, and the FY2027 budget proposes $114B for missiles, signaling sustained demand that supports the stock.
Backlog and budget trends show long-term demand visibility, a key price driver.
RTX sells Blue Canyon, faces China export curbs RTX is selling its Blue Canyon small-satellite unit for $620M, losing a growth asset. Separately, new Chinese export controls on rare earths and defense materials create supply chain and cost risks, weighing on the stock.
Asset sale and supply chain risks are new negative factors affecting RTX's outlook.
GM talks and undervaluation signal upside GM held early talks with RTX to boost weapons production, potentially easing supply bottlenecks. Also, one analysis says RTX is 13.2% undervalued based on $90.4B revenue and $7.3B net income, though another model sees it slightly overvalued.
New production partnership and valuation debate influence investor sentiment.

June 202617 Jun – 26 Jun 2026

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RTX Wins $1.5B Missile Deals, Sells Space Unit, Faces China Supply Risk

Raytheon wins $1.5B in missile contracts Raytheon won a $398.7M AMRAAM contract and a $1.1B AIM-9X missile contract, both with foreign military sales funding. These awards add to RTX's record $271B backlog and support revenue growth, pushing the stock up.
New contract wins directly boost future revenue and investor confidence.
Record $271B backlog and strong defense demand RTX's total backlog hit a record $271B, with defense up 18.5% to $109B. A military expert warned munitions deliveries are years behind, and the FY2027 budget proposes $114B for missiles, signaling sustained demand that supports the stock.
Backlog and budget trends show long-term demand visibility, a key price driver.
RTX sells Blue Canyon, faces China export curbs RTX is selling its Blue Canyon small-satellite unit for $620M, losing a growth asset. Separately, new Chinese export controls on rare earths and defense materials create supply chain and cost risks, weighing on the stock.
Asset sale and supply chain risks are new negative factors affecting RTX's outlook.
GM talks and undervaluation signal upside GM held early talks with RTX to boost weapons production, potentially easing supply bottlenecks. Also, one analysis says RTX is 13.2% undervalued based on $90.4B revenue and $7.3B net income, though another model sees it slightly overvalued.
New production partnership and valuation debate influence investor sentiment.

17 Jun – 26 Jun 2026

▲3▼1

RTX Wins $1.5B Missile Deals, Sells Space Unit, Faces China Supply Risk

Raytheon wins $1.5B in missile contracts Raytheon won a $398.7M AMRAAM contract and a $1.1B AIM-9X missile contract, both with foreign military sales funding. These awards add to RTX's record $271B backlog and support revenue growth, pushing the stock up.
New contract wins directly boost future revenue and investor confidence.
Record $271B backlog and strong defense demand RTX's total backlog hit a record $271B, with defense up 18.5% to $109B. A military expert warned munitions deliveries are years behind, and the FY2027 budget proposes $114B for missiles, signaling sustained demand that supports the stock.
Backlog and budget trends show long-term demand visibility, a key price driver.
RTX sells Blue Canyon, faces China export curbs RTX is selling its Blue Canyon small-satellite unit for $620M, losing a growth asset. Separately, new Chinese export controls on rare earths and defense materials create supply chain and cost risks, weighing on the stock.
Asset sale and supply chain risks are new negative factors affecting RTX's outlook.
GM talks and undervaluation signal upside GM held early talks with RTX to boost weapons production, potentially easing supply bottlenecks. Also, one analysis says RTX is 13.2% undervalued based on $90.4B revenue and $7.3B net income, though another model sees it slightly overvalued.
New production partnership and valuation debate influence investor sentiment.