RTX gains from air travel rebound

Article Excerpt

RAYTHEON TECHNOLOGIES CORP. $100 is a buy. The company (New York symbol RTX; Conservative-Growth Payer Portfolio; Manufacturing sector; Shares outstanding: 1.5 billion; Market cap: $150.0 billion; Dividend yield: 2.2%; Dividend Sustainability Rating: Above Average; www.rtx.com) is a leading maker of commercial aircraft equipment, electronic systems for military aircraft, and guided missiles. With the June 2022 payment, Raytheon raised your quarterly dividend by 7.8%. The new annual rate of $2.20 yields 2.2%. The company’s revenue in the quarter ended December 31, 2022, rose 6.2%, to $18.09 billion from $17.04 billion a year earlier. That’s mainly due to stronger sales to commercial aircraft makers as air travel volumes rebound on the lifting of COVID-19 restrictions. Earnings also improved 15.7%, to $1.87 billion from $1.61 billion. Due to fewer shares outstanding, earnings per share gained 17.6%, to $1.27 from $1.08. Raytheon Technologies is a buy. buy. …