Raytheon ELCAN Secures Key Contract To Supply Dual-Role Sights To Danish Armed Forces

RTX Corporation RTX shares are trading higher premarket on Monday after the company won an additional multi-million-dollar contract from the Danish Defence Armed Forces for ELCAN Specter DR dual-role sights.

The NATO Support Procurement Agency (NSPA) is overseeing the contract.

The ELCAN Specter DR sight is a versatile optic that enables both close-quarters and precision targeting in one device.

It seamlessly switches between magnifications, allowing users to maintain “both eyes open” target acquisition, while ensuring consistent boresight, eye relief, and sight picture.

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Mike Lewis, director and general manager at Raytheon ELCAN said, “The Specter DR dual role sight is battle-proven, enabling soldiers to be more effective on the battlefield,”

“Raytheon ELCAN continues to work with our customers across NATO to deliver rugged, reliable optics that give our allies a competitive advantage when it matters most.”

Last week, Pratt & Whitney, a division of RTX , won a three-year contract worth up to $1.5 billion to support the U.S. Air Force's F119 engines, which power the F-22 fighter jets.

Last month, the company reported fourth-quarter results. Net sales increased 9% year-over-year to $21.623 billion, beating the consensus of $20.535 billion. Adjusted EPS grew 19% Y/Y to $1.54, above the consensus of $1.38.

Investors can gain exposure to the stock via iShares U.S. Aerospace & Defense ETF ITA and First Trust Exchange-Traded Fund First Trust Indxx Aerospace & Defense ETF MISL.

Price Action: RTX shares are up 1.30% at $124.89 premarket at the last check Monday.

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