RTX Corp Stock Price, News & Analysis

Raytheon Technologies Corporation (RTX) reported robust second quarter 2021 results, achieving sales of $15.9 billion, a 13% increase year-over-year. GAAP EPS was $0.69, with adjusted EPS at $1.03. Operating cash flow stood at $1.3 billion and free cash flow at $966 million. The company raised its 2021 sales outlook to $64.4 - $65.4 billion, increasing adjusted EPS expectations to $3.85 - $4.00. Key bookings included significant contracts in defense, contributing to a backlog of $151.8 billion.

Raytheon Technologies (NYSE: RTX) has appointed Jeff Shockey as the new senior vice president of Global Government Relations, succeeding Timothy McBride, who will leave the company later this year. Shockey, joining from Boeing, brings extensive expertise in defense and intelligence policy. He will report directly to CEO Gregory Hayes and will focus on managing the company's relationships with various policymakers. Hayes expressed gratitude towards McBride for his contributions during a pivotal transformation period for the company.

Pratt & Whitney Canada (P&WC), a Raytheon Technologies unit, announced a $163M CAD investment to advance its hybrid-electric propulsion technology as part of Canada’s green recovery plan. Supported by the Canadian and Quebec governments, this initiative aims for a 30% reduction in fuel burn and CO₂ emissions compared to modern regional turboprop airliners. The project will feature a flight demonstrator based on the Dash 8-100, integrating an advanced motor and controller from Collins Aerospace. Ground testing is planned for 2022, with flight testing anticipated in 2024.

Pratt & Whitney, a unit of Raytheon Technologies (NYSE: RTX), has secured over 800 orders for GTF engines in 2021, contributing to the recovery in the aerospace sector. Major customers include Frontier Airlines, Volaris, Air France, Delta Air Lines, and AerCap. The GTF engines offer up to 20% reduced fuel burn and significantly lower emissions. AerCap has committed to powering 80 additional Airbus A320neo and A321neo aircraft with these engines. This momentum is anticipated to continue throughout the year, highlighting Pratt & Whitney's leadership in fuel-efficient technology.

Raytheon Intelligence & Space has secured a $171.6 million contract for Low-Rate Initial Production Lot I of the U.S. Navy's Next Generation Jammer Mid-Band (NGJ-MB), marking a significant shift from development to production. The NGJ-MB system enhances airborne electronic attacks by denying, disrupting, and degrading enemy technologies. Completed testing includes over 145 hours of flight and 3,100 hours of lab evaluations. The Milestone C decision further propels the program into deployment, aiming to improve the effectiveness of naval aviation.

Raytheon Technologies (NYSE: RTX) is set to release its second quarter earnings on July 27, 2021, before the market opens. A conference call will follow at 8:30 a.m. ET, and a corresponding presentation will be available for download on their website. Analysts can ask questions during the call, and it will be broadcast live online with replays available afterward. Raytheon Technologies, formed in 2020, is a leading aerospace and defense company with four primary business segments, providing advanced systems for commercial, military, and government markets.

Blue Canyon Technologies, a subsidiary of Raytheon Technologies (NYSE: RTX), announced the successful launch of its microsatellites and components on SpaceX's Falcon 9 Transporter 2 mission. Featuring over 88 satellites, Blue Canyon showcased its diverse product line, including the X-SAT Venus ESPA-class bus. The launch supports various missions, including the TROPICS Pathfinder, aimed at improving hurricane forecasting. Stephen Steg, CEO, emphasized the company's integrated production capabilities and expanding partnerships, positioning Blue Canyon for growth in the commercial space market.

On June 29, 2021, Collins Aerospace, part of Raytheon Technologies (NYSE: RTX), announced the completion of a critical design review for a 500 kilowatt electric motor for the Airlander 10 aircraft. The motor's fabrication has started, with flight testing planned for 2023. By 2025, hybrid-electric operations are expected, transitioning to all-electric, zero-emission flights by 2030. Collins has invested $18 million in its facility in Solihull, U.K., to support this project. The initiative aims to bolster U.K. aerospace capabilities and contribute to sustainable aviation efforts.

Raytheon Technologies Corporation (NYSE: RTX) has declared a quarterly dividend of 51 cents per share, payable on Sept. 9, 2021, to shareholders of record as of Aug. 20, 2021. This marks a continuation of the company's commitment to returning value to its shareholders, having paid cash dividends annually since 1936. Raytheon Technologies is a prominent aerospace and defense company with four leading business segments, including Collins Aerospace Systems and Pratt & Whitney.