Raytheon has a bright outlook

Article Excerpt

Commercial air traffic volumes have now rebounded to 80% of their pre-pandemic levels. That continues to spur demand for Raytheon’s aerospace products. The company’s military businesses also benefit as the U.S. and other NATO countries seek to replenish the stockpile of missiles and other weapons currently being sent to Ukraine to help it repel the Russian invasion. What’s more, the stock is attractively priced in relation to its earnings. RAYTHEON TECHNOLOGIES CORP. $100 is a buy. The company (New York symbol RTX; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 1.5 billion; Market cap: $150.0 billion; Price-to-sales ratio: 2.1; Dividend yield: 2.2%; TSINetwork Rating: Above Average; www.rtx.com) took its current form on April 3, 2020, with the all-stock merger of United Technologies Corp. and Raytheon Co. It also spun off its Otis (elevator) and Carrier (heating and air conditioning equipment) businesses as separate firms (see page 16). Currently, Raytheon plans to re-organize its operations into three new divisions in the second half of 2023:…