Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, March 4, 2022

Article Excerpt

RAYTHEON TECHNOLOGIES CORP., $99.59, New York symbol RTX, is a buy for long-term gains. The company took its current form on April 3, 2020, with the merger of United Technologies Corp. (old symbol UTX) and Raytheon Co. (old symbol RTN). It’s now a leading maker of commercial aircraft equipment, electronic systems for military aircraft and radar systems, and guided missiles. The stock hit a new all-time high of $104.34 this week in response to Russia’s invasion of Ukraine. That has prompted NATO members to increase their defence budgets, which should boost demand for the company’s Javelin anti-tank and Stinger ground-to-air missiles. In fact, Germany has already pledged to provide Ukraine with 500 Stinger missiles. Raytheon will probably earn $4.79 a share in 2022, and the stock trades at 20.8 times that estimate. That’s a reasonable p/e in light of the higher military spending and rebounding civilian air travel volumes as countries ease their COVID-19 restrictions. The $2.04 dividend yields 2.0%. Raytheon Technologies is…