Raytheon Invests $100M in Missile-Defense Expansion Amid RTX Stock Rally

Raytheon, a subsidiary of RTX, announced a $100 million expansion of its Portsmouth facility to boost production of Patriot GEM-T missile components and accelerate testing of the LTAMDS radar system. The investment underscores RTX's strategic focus on defense technology as global demand for missile-defense capabilities grows.

RTX shares opened at $181.26, with Jefferies upgrading the stock to Buy and setting a $220 price target. The company reported stronger-than-expected Q1 earnings of $1.78 per share and raised its quarterly dividend to $0.73, signaling confidence in its financial trajectory.

The LTAMDS radar, designed to counter hypersonic threats, has already secured contracts with the U.S. Army and Poland. This expansion positions RTX to capitalize on increasing defense budgets worldwide while creating 150 high-tech jobs in Rhode Island.