57.97 -0.14 (-0.24%)
Before hours: 4:15AM EDT
|Bid||58.13 x 800|
|Ask||58.97 x 1100|
|Day's Range||58.06 - 60.88|
|52 Week Range||43.44 - 99.71|
|Beta (5Y Monthly)||0.85|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||1.90 (3.27%)|
|Ex-Dividend Date||Aug. 13, 2020|
|1y Target Est||N/A|
Raytheon Technologies (RTX) is set to offer non-warranty repairs, program support, contractor logistics support and service life prediction program analysis, supporting the AMRAAM weapon system
Shares of Raytheon Technologies (NYSE: RTX) were down 34.6% in the first half of 2020. Given the weakness in commercial aerospace due to the COVID-19 pandemic, some amount of pressure is to be expected. Raytheon Technologies was formed in April when defense contractor Raytheon combined with the aerospace unit of United Technologies, the first defense megamerger in a generation.
Over the past five trading sessions, the defense biggies put up a mixed show with Boeing and Lockheed Martin losing but Northrop and Textron recording gains.
(Bloomberg) -- Anduril Industries Inc., a Southern California startup that builds technology for military agencies and border surveillance, said it raised a new funding round nearly doubling the company’s valuation to $1.9 billion.Silicon Valley money has rapidly propelled the three-year-old company. Venture capital firm Andreessen Horowitz led the latest financing, which totaled $200 million. The investment firm also participated in a deal about a year ago, along with Peter Thiel’s Founders Fund and other VCs, that valued Anduril at about $1 billion. That was four times the valuation from a year earlier.The business is controversial. Anduril builds surveillance towers and drones, along with software to automatically monitor areas like international borders and the perimeter of military bases. “We founded Anduril because we believe there is value in Silicon Valley technology companies partnering with the Department of Defense,” Brian Schimpf, the chief executive officer of Anduril, said in a statement Wednesday.But it’s Anduril’s work with other agencies that draws the greatest criticism. The company’s first government contracts were with U.S. Customs and Border Protection, where it put up towers along the U.S.-Mexican border. Mark Morgan, the acting commissioner of the agency, told Congress in February that immigration authorities planned to have 200 autonomous surveillance towers in place this year. On Thursday, Customs and Border Protection said in a statement that the tower system was a “program of record,” meaning it’s essential enough to have a dedicated line of funding from Congress, and that the towers would operate 24 hours a day, independent of the electrical grid. Few VC-backed startups have seriously pursued military contracts, mostly ceding the field to huge, politically connected defense contractors like Lockheed Martin Corp., Raytheon Technologies Corp., and Boeing Co. This is partially due to the impression that small companies will get too bogged down in government work to become profitable and partially because of political controversies surrounding high-tech surveillance and autonomous weapons.Anduril was founded in 2017 on the idea that such hesitation is an opportunity. Founders of the Irvine, California-based company include veterans of Thiel’s Palantir Technologies Inc.—a major contractor to government agencies including immigration officials—as well as Palmer Luckey, a vocal supporter of Donald Trump whose 2017 departure from Facebook Inc. became a flashpoint in an intramural political debate in Silicon Valley.Last year, Anduril expanded beyond surveillance, building a system of small drones that will automatically ram targets that enter contested airspace. Its initial pitch is to defend against small drones used to surveil or attack military bases, though Anduril has said the product could be expanded to combat larger targets in the future. Marc Andreessen described Anduril in a blog post last fall as part of a “new generation of Silicon Valley-style defense vendors.”Anduril now has more than 30 federal contracts which could be worth over $200 million, according to an analysis by Tech Inquiry, a research group. Anduril has said it works with U.S. allies, too, including the U.K. Ministry of Defense.(Updates with Customs and Border Protection statement in the fourth paragraph. )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Raytheon Technologies (RTX) closed at $61.62 in the latest trading session, marking a -0.48% move from the prior day.
Raytheon Technologies (RTX) will provide seven transportable surveillance and control model 2 radars to the Saudi Arabian military, per the recent deal terms.
French unions and a regional body slammed a decision by Airbus <AIR.PA> to cancel plans to bring some engine work in-house on Tuesday, saying it would cost 350 French jobs. Airbus was due to take over production of some A320neo nacelles or engine housings from Raytheon Technologies Corp <RTX.N> this month, gaining access to future maintenance profits. The plan dates back to 2017 when Airbus looked at "in-sourcing" two types of nacelle offered by France's Safran <SAF.PA> and what is now Raytheon Technologies, depending on the type of engine.
Over the past five trading sessions, defense biggies put up a mixed show. While Boeing and Textron gained, Lockheed Martin and L3Harris lost.
Raytheon Technologies (RTN) and Boeing have now shared more than 35 years of success on numerous generations of the F-15 radar program.
In other words, if you are going to invest $10,000 right now it's a good idea to do it in businesses you will be happy to hold even if the market has a temporary correction. In this context, let's look at why Raytheon Technologies (NYSE: RTX), PTC (NASDAQ: PTC) and Deere (NYSE: DE) are attractive stocks for long-term investors. The case for buying Raytheon Technologies is based on the fact that 55% of its revenue comes from defense.
The Zacks Analyst Blog Highlights: Raytheon Technologies, Triumph Group, Transdigm Group and The Boeing Company
Both Raytheon (RTX) and Lockheed (LMT) are renowned U.S. missile makers and frequently clinch contracts like the latest one involving the Javelin missile.
One of Wall Street's biggest bears when it comes to General Electric (NYSE: GE) shares said Wednesday that he believes consensus expectations for the industrial conglomerate are bound to be "reset" due to ongoing issues at the company's aviation unit. The comments, Tusa said, "inform something worse than our well below consensus thinking on the GE Aviation model."
Head of Macro Strategy at Academy Securities Peter Tchir joins Yahoo Finance’s Seana Smith to break down his outlook on the markets as coronavirus cases surpass 1.5M in the U.S., according to John Hopkins.
EventShares Chief Investment Officer Ben Phillips joins Yahoo Finance’s Seana Smith to discuss the additional 3.169 million Americans that filed for unemployment last week amid the coronavirus.