The combined company, valued at more than $100 billion after planned spinoffs, would be the world's second-largest aerospace-and-defense company by sales behind Boeing. In 1961, the British electronics company A.C. Cossor merged with Raytheon, following its sale by Philips. [21] In 2017 the Air Force again awarded the contract to Raytheon. [49] Daniel Burnham brought Six Sigma to Raytheon from AlliedSignal in 1998. [28] In January 2016, Raytheon|Websense acquired the firewall provider Stonesoft from Intel Security for an undisclosed amount and renamed itself to Forcepoint. Within a few months of being awarded the contract, Raytheon had already begun to mass manufacture magnetron tubes for use in radar sets and then complete radar systems. Raytheon Company (NYSE:RTN) shares ceased trading prior to the market open on April 3, 2020, and each share of Raytheon common stock has been converted in the merger into the right to receive 2.3348 shares of United Technologies common stock (previously traded on the NYSE under the ticker symbol "UTX"). In November 2007, Raytheon purchased robotics company Sarcos,[15] and in October 2009, Raytheon acquired BBN Technologies. On Jan. 26, Raytheon said that between 20,000 and 21,000 job positions companywide had been eliminated during fiscal 2020. Why Stock Market Investors Should Pay Attention to What General Electric and Raytheon Just Said Earnings from these industrial giants say something about the … Raytheon Technologies Corp, formerly United Technologies Corporation, is an aerospace and defense company that is engaged in providing advanced … The stock price of Raytheon Technologies (NYSE: RTX), best known for its aerospace and defense products, has declined over 25% since the beginning of 2017. *The 1995 ending price for Raytheon has been adjusted for a 2 for 1 stock split. The … [51] Raytheon was given until the end of the month to independently test whether or not the groundwater that originated from its area was contaminated. The Raytheon corporation researches, develops, and manufactures advanced technology products in the aerospace and defense industry, including aircraft engines, avionics, aerostructures, cybersecurity, missiles, air defense systems, and drones. [52], In December 2020, the Board of Directors authorized a $5 billion repurchase of common stock. The Waltham, Massachusetts-based company said it had net income of 50 cents per share. The Investor Relations website contains information about Raytheon's business for stockholders, potential investors, and financial analysts. WALTHAM, Mass. The tool is limited to U.S. common equities listed on U.S. stock exchanges. Also in 1953 the company began work on a follow-on, the RAYCOM, which was never completed. (AP) _ Raytheon Technologies Corporation (RTX) on Tuesday reported first-quarter net income of $753 million, after reporting a loss in the same period a year earlier. [48], In June 2019, United Technologies announced the intention to merge with the Raytheon Company to form Raytheon Technologies Corporation. [23] In 2017 the Air Force again awarded the contract to Raytheon. In 1928 Raytheon merged with Q.R.S. Get the latest Raytheon Technologies Corp (RTX) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions. The trial of six of the accused began May 19, 2008, in the Laganside Courts in Belfast. The stock's rise snapped a two-day losing streak. In September 2011, UTC acquired a $18.4 billion deal (including $1.9 billion in net debt assumed) for aircraft components maker Goodrich Corporation. Raytheon is a developer and manufacturer of radars (including AESAs), electro-optical sensors, and other advanced electronics systems for airborne, naval and ground based military applications. "Unfortunately, the machine was technically obsolete by the time it was operational." [8], The company has four subsidiaries: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense.[9]. Raytheon was the world's largest producer of guided missiles. [34], In 1999, UTC acquired Sundstrand Corporation and merged it into UTC's Hamilton Standard unit to form Hamilton Sundstrand. Raytheon’s businesses are supported by several dedicated international operations including: Raytheon Australia; Raytheon Canada Limited; operations in Japan; Raytheon Microelectronics in Spain; Raytheon UK (formerly Raytheon Systems Limited); and ThalesRaytheonSystems, France. The Raytheon Company was founded in 1922 in Cambridge, Massachusetts by Laurence K. Marshall, Vannevar Bush, and Charles G. Smith as the American Appliance Company. ", "Raytheon's Florida Neighbors Sue Over Water Contamination", U.S. Raytheon’s current market cap of $40.5 billion, and the market values the future Raytheon Technologies to be around $94 billion. [13] At the close of the war, United Aircraft entered the emerging markets for jet engines and helicopters, via Pratt & Whitney and Sikorsky, respectively. Much of its Space and Airborne Systems division in El Segundo, CA is devoted to this, a business it inherited from Hughes. But what went wrong for the company … [4][5], The company is the result of the merger of equals between the aerospace subsidiaries of United Technologies Corporation (UTC) and the Raytheon Company, which was completed on April 3, 2020. [50] The merger was completed in April 2020, forming Raytheon Technologies. Raytheon also manufactured the Apollo Guidance Computer, which was introduced that year and flew aboard all NASA Project Apollo missions. The company is also a large military contractor, getting a significant portion of its revenue from the U.S. [16], In November 2007, Raytheon purchased Sarcos for an undisclosed sum, seeking to expand into robotics research and production. In 1991, during the Persian Gulf War, Raytheon's Patriot missile received great international exposure, resulting in a substantial increase in sales for the company outside the United States. [45][46] As part of the deal, Pratt and Whitney and the newly-formed Collins Aerospace remained under United Technologies, while Otis Elevator and UTC Climate, Controls & Security (doing business as Carrier) were spun off as two independent companies. President Biden's planned U.S. tax overhaul would cause a $1B hit to Raytheon Technologies (NYSE:RTX) and threaten the company's $5B in annual spending … [10] Its focus, which was originally on new refrigeration technology, soon shifted to electronics. In the 1950s, Raytheon began manufacturing transistors, including the CK722, priced and marketed to hobbyists. In April 2020, the company merged with United Technologies Corporation … Shares are up 0.3% in early trading. At war's end in 1945 the company was responsible for about 80 percent of all magnetrons manufactured. [34] He pursued a strategy of growth and diversification, changing the parent corporation's name to United Technologies Corporation (UTC) in 1975 to reflect the intent to diversify into numerous high tech fields beyond aerospace. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, came to 90 cents per … Its special-mission aircraft included the single-turboprop T-6A Texan II, which the United States Air Force and United States Navy had chosen as their primary training aircraft. [53][54], "Raytheon" redirects here. Company, an American manufacturer of electron tubes and switches, to form the successor of the same name, Raytheon Manufacturing Company. On October 12, 1999, Raytheon exited the personal rapid transit (PRT) business as it terminated its PRT 2000[15] system due to the high cost of development and the lack of interest. [52] The DEP also reported that the clouds contained other toxins, such as lead and toluene. With relatively low debt and a low free cash flow payout, the stock is an attractive selection. Shares of Raytheon Technologies Corp. RTX, +2.23% inched 0.62% higher to $73.06 Wednesday, on what proved to be an all-around mixed trading session for the stock … [6] Raytheon Technologies began trading at $51 per share, on the New York Stock Exchange under the ticker RTX. Immediately following the Separation Transactions and Distributions, on April 3, 2020, UTC and Raytheon Company completed their all-stock merger of equals transaction (the Raytheon Merger), pursuant to which Raytheon Company became a wholly-owned subsidiary of UTC and UTC was renamed Raytheon Technologies Corporation. [53] According to DEP documentation, Raytheon has tested wells on its site since 1996 but had not delivered a final report; therefore, it was given a deadline on May 31, 2008 to investigate its groundwater. Raytheon also produces and runs the ABACUS (Advanced BAttlespace CompUter Simulation) or Higher Formation Trainer (HFT) for training HQs from small specialist units up to corps level. The stock's 50 day moving average price is $76.32 and its two-hundred day moving average price is … Raytheon Announces Agreement to Purchase BBN Technologies, Raytheon Completes Acquisition of BBN Technologies, "Raytheon buys Applied Signal Technology", Raytheon wins deal for next-generation U.S. Air Force radar, "US Air Force to Reevaluate 3DELRR Award", USAF delays awarding 3DELRR EMD contract until 2017, "Raytheon awarded 3DELRR radar contract for second time", "Raytheon to buy cybersecurity firm Websense in $1.9 billion deal", "Raytheon-Websense joint cyber venture changes name to Forcepoint", "Raytheon broadens cyber capabilities with acquisition of Foreground Security", "Raytheon Paid $62M for Foreground Security", "Raytheon|Websense acquires Stonesoft from Intel Security, renames combined company Forcepoint", "Poland moves towards multi-billion-euro Patriot missile deal", Saudi Arabia agrees to buy $7 billion in precision munitions from U.S. firms: sources, Raytheon Arm Wins $302M Deal to Boost Saudi Arabia's Defense, "Qatar Agrees to Buy U.S. Aircraft, Engines, Defense Equipment", "Raytheon completes first antenna for US Army's new missile defense radar", "United Technologies says its merging with defense contractor Raytheon and moving headquarters to Boston area from Connecticut", Raytheon Announces Revolutionary New 'Cockpit' for Unmanned Aircraft – an Industry First, "FBI E-Mail Shows Rift Over Warrantless Phone Record Grabs", "Raytheon targets nuclear smuggling: Firm sees profit in homeland security", "Peregrine Air-to-Air Missile | Raytheon", "Is Raytheon site poisoning St. Petersburg neighborhood? In the late 20th century it produced a wide range of integrated circuits and other components, but as of 2003 its US semiconductor business specializes in gallium arsenide (GaAs) components for radio communications as well as infrared detectors. [citation needed] Clients are offered training tailored to their needs. The UK arm specialized in CMOS on silicon carbide (SiC) development and foundry work but is no longer taking on new orders, having been on the premises for 57 years. Raytheon Earnings And Fundamental Analysis. [21], The contract award was immediately protested by Raytheon's competitors, Lockheed Martin and Northrop Grumman. During the war Raytheon also pioneered the production of shipboard radar systems, particularly for submarine detection. [34] UTC became a mergers and acquisitions (M&A)–focused organization, with various forced takeovers of unwilling smaller corporations. In later decades, it remained a major producer of missiles, such as the Patriot antimissile missile and the air-to-air Phoenix missile. Raytheon company's Navy Multiband Terminal (NMT) is the first advanced, next-generation satellite communications (SATCOM) system to successfully log on to and communicate with the U.S. government's Milstar SATCOM system using low and medium data rate waveforms. Raytheon Company (NYSE: RTN) stock closed at 116.7 per share at the end of the most recent trading day (a 0 % change compared to the prior day closing price) with a volume of 0.0000 shares and market capitalization of 32.57B.Is a component of indices and it is traded on NYSE exchange. As of April 06, 2021, the stock closed at $77.51 per share. [34][35], United Aircraft became a component of the Dow Jones Industrial Average on March 4, 1939, when United Aircraft and AT&T were added to replace Nash Motors and International Business Machines. [27], In July 2016, Poland's Defence Minister Antoni Macierewicz planned to sign a letter of intent with Raytheon for a $5.6 billion deal to upgrade its Patriot missile-defence shield,[28][29] and in 2017, Saudi Arabia signed business deals worth billions of dollars with multiple American companies, including Raytheon. [2][6] Former UTC CEO and chairman Gregory J. Hayes is the CEO of the combined company,[7] and former Raytheon CEO and chairman Thomas A. Kennedy is the Executive Chairman. In 1922, two former Tufts University School of Engineering, roommates Laurence K. Marshall and Vannevar Bush, along with scientist Charles G. Smith, founded the American Appliance Company in Cambridge, Massachusetts. [9] Its focus, which was originally on new refrigeration technology, soon shifted to electronics. considered federal contracts in decision to keep Indiana jobs in deal with Trump", "Raytheon Technologies' stock, formerly United Technologies, starts trading in", "Raytheon Technologies: Should You Buy the Dip Now? Raytheon ranked 71st among United States corporations in the value of World War II military production contracts. Raytheon Technologies has a fifty-two week low of $51.13 and a fifty-two week high of $80.06. In November 1991, prior to Raytheon's acquisition, contamination had been discovered at the E-Systems site. Following this good news, Raytheon Company (RTN)’ shares inclined 1.76% or 1.76 points, during the current trading session. The system provides naval commanders and sailors with greater data capacity, as well as improved protection against enemy intercept and jamming. The Lowell Sun (MediaNews Group), United Aircraft and Transport Corporation, aircraft engine and airframe manufacturing, Raytheon Intelligence, Information and Services, "United Technologies Corporation 2019 Form 10-K Annual Report", "United Technologies and Raytheon Complete Merger of Equals Transaction", "CEO: United Tech. View Raytheon Technologies Corporation RTX investment & stock information. In 1928 Raytheon merged with Q.R.S. Get the latest Raytheon Technologies Corp (RTX) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions. Using the Amana brand name and its distribution channels, Raytheon began selling the first countertop household microwave oven in 1967 and became a dominant manufacturer in the microwave oven business. [citation needed] By the 1930s, it had already grown to become one of the world's largest vacuum tube manufacturing companies. In an effort to establish leadership in the defense electronics business, Raytheon purchased in quick succession Dallas-based E-Systems (1995); Chrysler Corporation's defense electronics and aircraft-modification businesses, and the defense unit of Texas Instruments, Defense Systems & Electronics Group (1997). 16 Wall Street analysts have issued ratings and price targets for Raytheon Technologies in the last 12 months. Raytheon Company (NYSE:RTN) is a global industry juggernaut with a strong balance sheet, aggressive stock repurchase program, tremendous momentum, and a great long-term outlook. Should you be buying RTX stock or one of its competitors? On Wednesday, Raytheon Company (NYSE:RTN), said it is ready to expand in Colorado Springs and started work on $700M NORAD support contract. [37], Raytheon is composed of five major business divisions:[38]. Estimated Average Forecasted Raytheon Technologies Price: 87.45. [3] In April 2020, the company merged with United Technologies Corporation to form Raytheon Technologies. Also in 2005, UTC acquired Boeing's Rocketdyne division, which was merged into the Pratt & Whitney business unit and renamed Pratt & Whitney Rocketdyne (later sold to Aerojet and merged into Aerojet Rocketdyne). The scope of each contract can vary from short-term training initiatives and projects to multi-year outsourcing engagements for some or all of a client’s training function. [13] In 1945, Raytheon's Percy Spencer invented the microwave oven by discovering that the magnetron could rapidly heat food. These include: In a jointly managed project with Hughes Aircraft Co., Raytheon developed the Air Warfare Simulation (AWSIM2), currently used by the USAF for battle staff training at simulation centers worldwide. Raytheon also manufactures semiconductors for the electronics industry in sites in the US and UK. Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. The company’s stock has been forecasted to trade at an average price of $91 over the course of the next 52 weeks, with a low of $70 and a high of $103. Its focus, which was originally on new refrigeration technology, soon shifted to electronics.The company's first product was a gaseous rectifier that was based on Charles Smith's earlier astronomical research of the star … About the Exchange of Shares of Raytheon Company Common Stock 193.7 KB IRS Form 8937 for United Technologies Corporation 643 KB IRS Form 8937 for Raytheon Company 628.2 KB Raytheon saw more than $753 million in net income, reversing a year-ago loss and working out to $0.50 per share in earnings. Raytheon provides electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems; as well as a broad range of mission support services. In 1925, the company changed its name to Raytheon Manufacturing Company and began marketing its rectifier, under the Raytheon brand name, with commercial success. Raytheon Technologies Corp. closed $18.25 short of its 52-week high ($90.86), which the company reached on February 14th. The company has a market cap of $118.96 billion, a PE ratio of -67.49, a P/E/G ratio of 1.67 and a beta of 1.39. [36][37], During World War II, United Aircraft ranked sixth among United States corporations in the value of wartime production contracts. On 9 August 2006, The Stream Contact Centre in Derry, Northern Ireland, which had a contract with Raytheon at the time, was attacked by protesters. They develop technologically advanced and integrated products, services and solutions in their … [44] In July 2012, United Technologies acquired Goodrich and merged it with Hamilton Sundstrand, forming UTC Aerospace Systems. Raytheon Professional Services (RPS) is a global leader[citation needed] in training services and learning outsourcing for over 75 years. Company insiders that have bought Raytheon Technologies stock in the last two years include Dinesh C Paliwal, Frank R Jimenez, Gregory Hayes, and Thomas A Kennedy. Company, an American manufacturer of electron tubes and switches, to form the successor of the same name, Raytheon Manufacturing Company. As of Dec 30, 2020, the company held 8.42% of the shares, roughly 127.89 Million RTX shares worth $9.15 Billion. In 1965, it acquired Amana Refrigeration, Inc., a manufacturer of refrigerators and air conditioners. It was previously involved in corporate and special-mission aircraft until early 2007. Using the Amana brand name and its distribution channels, Raytheon began selling the first countertop household microwave oven in 1967 and became a dominant manufacturer in the microwave oven business. RTN shareholders received 2.3348 shares of (RTX) for every share of RTN held. Raytheon Technologies Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for … The company has declined since to provide a local workforce update. [34], In February 2020, Raytheon completed the first radar antenna array for the US Army's new missile defense radar, known as the Lower Tier Air and Missile Defense Sensor (LTAMDS), to replace the service's Patriot air and missile defense system sensor. [42], As of December 2014, according to filed reports, the top ten institutional shareholders of Raytheon are Wellington Management Company, Vanguard Group, State Street Corporation, Barrow, Hanley, Mewhinney & Strauss, BlackRock Institutional Trust Company, BlackRock Advisors, Bank of America, Bank of New York Mellon, Deutsche Bank and Macquarie Group.[43]. For the predecessor company that merged to form this company, see, Otto J. Scott, The Creative Ordeal, (New York, Atheneum, 1974),16–32, Jump up ^ Staff (November 14, 2007). The historical data and Price History for Raytheon Company (RTN) with Intraday, Daily, Weekly, Monthly, and Quarterly data available for download. On Friday, Raytheon Company (NYSE:RTN), dipped -1.03 points or -0.96%. [7], This article is about the defunct company prior to its merger with, Entrance to Raytheon's headquarters complex in, Training Services and Learning Outsourcing, Otto J. Scott, The Creative Ordeal, (New York, Atheneum, 1974),16–32. Also in 1997, Raytheon acquired the aerospace and defense business of Hughes Aircraft Company from Hughes Electronics Corporation, a subsidiary of General Motors, which included a number of product lines previously purchased by Hughes Electronics, including the former General Dynamics missile business (Pomona facility), the defense portion of Delco Electronics (Delco Systems Operations), and Magnavox Electronic Systems. View today's stock price, news and analysis for Raytheon Technologies Corp. (RTX). Note: We will update this report at most every month or at least every quarter (there can be exceptions). Together as one company, we are advancing aviation, building smarter defense systems and creating innovations to take us deeper into space. Some Wall Street watchers questioned the true value of M&A at almost any price, seemingly for its own sake. Raytheon then received military contracts to develop the air-to-air Sparrow and ground-to-air Hawk missiles, projects that received impetus from the Korean War. [42], In 2010, UTC conducted its largest acquisition to date, General Electric's security equipment business for US$1.8 billion, a move to support UTC's Fire & Security unit.[43]. During World War II, Raytheon mass manufactured magnetron tubes for use in microwave radar sets and then complete radar systems. Rather than aviation being the central theme of UTC businesses, high tech (of any type) was the new theme. The exact value of Austin’s payout from his Raytheon ties will be based on the closing price of the Waltham, Massachusetts-based company and two offshoots from its merger -- … The product line of Raytheon's aircraft subsidiary included business jets such as the Hawker 800XP and Hawker 4000, the Beechjet 400A, and the Premier I; the popular King Air series of twin turboprops; and piston-engine aircraft such as the Bonanza. In 1947, the company demonstrated the Radarange microwave oven for commercial use.[13]. [36], For the fiscal year 2017, Raytheon reported earnings of US$2.024 billion, with an annual revenue of US$25.348 billion, an increase of 5.1% over the previous fiscal cycle. Here is what Davis New York Venture Fund has to say about Raytheon Technologies Corporation in their Q4 2020 investor letter: [18], In October 2014, Raytheon beat rivals Lockheed Martin and Northrop Grumman for a contract to build 3DELRR, a next-generation long-range radar system, for the US Air Force worth an estimated $1 billion. [24] In October 2015, Raytheon|Websense acquired Foreground Security, a provider of security operations centers, managed security service solutions[buzzword] and cybersecurity professional services,[25] for $62 million. Find real-time RTX - Raytheon Technologies Corp stock quotes, company profile, news and forecasts from CNN Business. [4], Established in 1922, the company reincorporated in 1928 and adopted its present name in 1959. It operates through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. Historical business data for Raytheon Company: This page was last edited on 9 April 2021, at 20:54. An unexpected change can, sometimes, unnerve investors, but Raytheon (ticker: RTX) stock isn’t doing much. Under the direction of Thomas L. Phillips in 1965, it acquired Amana Refrigeration, Inc., a manufacturer of refrigerators and air conditioners. Mitchill was the corporate vice president for financial planning, analysis and investor relations. In 1993 the company expanded its aircraft activities by adding the Hawker line of business jets by acquiring Corporate Jets Inc., the business jet product line of British Aerospace (now BAE Systems). In 1966, the company entered the educational publishing business with the acquisition of D.C. Heath and Company, marketing an influential physics textbook developed by the Physical Science Study Committee. In 2005, groundwater monitoring indicated polluted groundwater was moving into areas outside the site. The share float percentage for the stock currently stands at 79.34%. [citation needed], Raytheon also divested itself of several nondefense businesses in the 1990s, including Amana Refrigeration, Raytheon Commercial Laundry (purchased by Bain Capital's Alliance Laundry Systems), and Seismograph Service Ltd (sold to Schlumberger-Geco-Prakla). Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. This is the main Raytheon Company stock chart and current price. Raytheon ranked 71st among United States corporations in the value of World War II military production contracts. [55] The EPA further required the installation and operation of an oxidation process system to treat the solvents and make the water safe to drink.[55]. And government customers worldwide Raytheon then received military contracts to develop the air-to-air Phoenix missile issued ratings and price for! 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