09:51 AM EDT, 09/17/2024 (MT Newswires) -- RTX (RTX) said its Raytheon subsidiary has been awarded a new contract by the Office of Naval Research to assist with a project to streamline and automate the production of transmit and receive modules used in the US Navy's SPY-6 radar systems.

Financial details of the contract weren't disclosed.

Work on the new contract is being performed at Raytheon's facility in Andover, Massachusetts, with delivery of the new modules expected during 2026 and 2027.

RTX shares were slipping almost 1% in recent early Tuesday trading.

Price: 118.21, Change: -1.00, Percent Change: -0.83