Strong quarter for Raytheon

Article Excerpt

RAYTHEON TECHNOLOGIES CORP. $93 is a buy. The company (New York symbol RTX; Conservative-Growth Payer Portfolio; Manufacturing & Industry sector; Shares outstanding: 1.5 billion; Market cap: $139.5 billion; Dividend yield: 2.4%; 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 2.4%. The company’s revenue in the quarter ended June 30, 2022, rose 2.7%, to $16.31 billion from $15.88 billion a year earlier. If you adjust for businesses that Raytheon recently sold, sales improved 4% on stronger sales to commercial aircraft makers. Earnings rose 10.0%, to $1.72 billion from $1.57 billion. Due to fewer shares outstanding, earnings per share gained 12.6%, to $1.16 from $1.03. Raytheon Technologies is a buy. buy. …