Raytheon wins $34m contract from US Army

Waltham defense contractor Raytheon Co. said today that it won a $34.4 million contract from the US Army to provide additional upgrades to its Patriot anti-ballistic missile system.

The contract calls for Raytheon to provide hardware upgrades to Patriot radars, engagement control stations, and launchers, as well as improved logistics capability, the company said.

The contract is part of a larger $310 million "Pure Fleet" equipment modernization contract the Army awarded to Raytheon in December.

Shares of Raytheon rose 16 cents to $60.58 in midday trading on the New York Stock Exchange. (AP)