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").
What is Raytheon's new stock symbol RTX?
Shares of Raytheon Technologies, the company created by the merger of Raytheon and United Technologies, began trading Friday under the symbol RTX. Last year, the industrial conglomerate United Technologies and defense contractor Raytheon agreed to join hands in a $100 billion deal the two billed as a merger of equals.
What happened to Raytheon stock after the merger?
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").
Why did the UTX share price drop overnight?
That reduced the overnight UTX share price because some of the value went into two new stocks. Factor in the performance of those shares (Carrier is up 92% since the split and shares of Otis are up 25%), and the overall return for legacy United Technologies investors who held their shares looks a lot better.
What happened to United Technologies stock before the merger?
UTX was the buyer in the deal, and on some data services the new company inherited United Technologies' historical price data. But prior to the merger, United Technologies shareholders got shares in two new independent companies: Carrier Global and Otis Worldwide.
Did Raytheon change its ticker?
Upon the closing of the merger, United Technologies will be renamed Raytheon Technologies Corporation , and its common stock will trade on the NYSE under the ticker symbol "RTX." The last full day of trading in the shares of Raytheon Company is expected to be Thursday, April 2, 2020 , and upon the closing of the merger ...
Is Raytheon stock a buy now?
There are currently 2 hold ratings and 7 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" Raytheon Technologies stock.
Did Raytheon go out of business?
Raytheon was the world's largest producer of guided missiles....Raytheon Company.Entrance to Raytheon's headquarters complex in Waltham, MassachusettsIndustryAerospace and defenseFoundedJuly 7, 1922 Cambridge, Massachusetts, U.S.FounderVannevar Bush Laurence K. Marshall Charles G. SmithDefunctApril 3, 202012 more rows
Who bought RTN?
On April 3, Raytheon (NYSE:RTN) and United Technologies (NYSE:UTX) successfully closed their merger after clearing the last regulatory hurdles the previous week. The merger will create a defense behemoth that generated $74 billion in revenues during 2019.
Will RTN stock go up?
Based on our forecasts, a long-term increase is expected, the "RTN" stock price prognosis for 2025-04-01 is 143.908 USD. With a 5-year investment, the revenue is expected to be around +23.04%. Your current $100 investment may be up to $123.04 in 2027.
Should I sell Raytheon stock?
Out of 7 analysts, 5 (71.43%) are recommending RTX as a Strong Buy, 1 (14.29%) are recommending RTX as a Buy, 1 (14.29%) are recommending RTX as a Hold, 0 (0%) are recommending RTX as a Sell, and 0 (0%) are recommending RTX as a Strong Sell.
Is Collins Aerospace now Raytheon?
Collins Aerospace, a unit of Raytheon Technologies Corp. (NYSE: RTX), is a leader in technologically advanced and intelligent solutions for the global aerospace and defense industry.
Is Raytheon bigger than Lockheed Martin?
Raytheon Technologies, with a market cap of $137 billion, is actually bigger than Lockheed Martin. It was created via the merger of Raytheon, long a major player in the military space, and United Technologies, which had a much more diverse business.
Which is better Raytheon or Lockheed Martin?
Lockheed Martin is most highly rated for Compensation and benefits and Raytheon is most highly rated for Compensation and benefits....Overall Rating.Overall Rating4.03.9Work/life balance3.93.8Compensation and benefits4.04.0Job security and advancement3.53.4Management3.53.41 more row
Does BlackRock own Raytheon?
Institutional investors purchased a net $4.6 million shares of RTX during the quarter ended June 2019 and now own 80.42% of the total shares outstanding....Top 10 Owners of Raytheon Technologies Corp.StockholderBlackRock Fund AdvisorsStake4.86%Shares owned72,478,922Total value ($)6,878,974,4879 more columns
Is Raytheon a Fortune 100 company?
RANK58. The major defense and aerospace manufacturer has expanded its footprint in those industries since it was formed by a 2020 merger of Raytheon Co.
Did UTC Purchase Raytheon?
Raytheon Corp. finalized its merger with United Technologies Corp. Friday to officially form Raytheon Technologies Corp. The deal creates one of the world's largest aerospace and defense companies.
Barchart Technical Opinion
The Barchart Technical Opinion rating is a 88% Sell with a Strongest short term outlook on maintaining the current direction.
Business Summary
Raytheon Company, together with its subsidiaries, is a technology and innovation leader specializing in defense and other government markets throughout the world. They develop technologically advanced and integrated products, services and solutions in their core markets: sensing; effects; command, control,...
How many shares of Raytheon were converted to United Technologies?
Raytheon Technologies. To complete the merger, each share of Raytheon was converted to 2.3348 shares of Raytheon Technologies, while each share of United Technologies was converted to one share of the combined company. Raytheon is a major U.S. defense and industrial manufacturing company with its core operations in weapons and military ...
What is the name of the new Raytheon company?
The merger will create a defense behemoth that generated $74 billion in revenues during 2019. The new company will be named Raytheon Technologies and will begin trading on April 3 under the stock symbol RTX. Preceding the merger, United Technologies spun off its HVAC division Carrier (CARR) and its elevator division Otis (OTIS) ...
When did Raytheon and United Technologies merge?
Raytheon and United Technologies, which merged on April 3, are no exception, especially as their operations are mainly in the aerospace and defense sectors, which follow the strength of the economy and largely depend on government spending. However, the all-stock merger of equals was able to proceed, as were the spinoffs ...
Who is the CEO of Raytheon?
The new company will be led by United Technologies Chairman and CEO Greg Hayes and headquartered in Waltham, Massachusetts. "Today, we introduce Raytheon Technologies as an innovation powerhouse that will deliver advanced technologies that push the boundaries of known science," Tom Kennedy, executive chairman of Raytheon Technologies, said.
Who is the CEO of United Technologies?
The new company will be led by United Technologies Chairman and CEO Greg Hayes and headquartered in Waltham, Massachusetts.
Does a combined company gain market share?
While the combined company will have the advantage of scale and complementary operations, which could help it gain more market share, there may not be much market share to gain in the immediate future . During times of economic crisis, governments typically cut spending on aerospace and defense contracts.
Did Raytheon divest its military radio business?
In order to clear the last holdup from the U.S. government, Raytheon agreed to divest its military airborne radio business, while United Technologies agreed to divest its GPS and space optical businesses. These other spinoffs "are all expected to be completed following the merger.".
Deal Bolsters the Case for RTN Stock
I see this as a win for investors. With the merger, Raytheon stock will benefit from having an outlet outside of the defense industry with which it can apply some of its technology. For now, analysts predict earnings increase for RTN stock of 14.7% this year.
Concluding Thoughts on the Merger
The new Raytheon stock will offer investors the best of both Raytheon and United Technologies, increasing the focus while broadening the customer base. With the merger, Raytheon gains two divisions as well as a foothold in the commercial side of the business. Holders of UTX stock get a more focused aircraft and aerospace company.
When did RTN cease trading?
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"). Upon closing of the merger, United ...
What is Raytheon technology?
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. It comprises four industry-leading businesses – Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense. Its 195,000 employees enable the company to operate at the edge of known science as they imagine and deliver solutions that push the boundaries in quantum physics, electric propulsion, directed energy, hypersonics, avionics and cybersecurity. The company, formed through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.
Where is Raytheon located?
Headquartered in Waltham, Mass., Raytheon Technologies is one of the largest aerospace and defense companies in the world with approximately $74 billion in pro forma 2019 net sales and a global team of 195,000 employees, including 60,000 engineers and scientists.
When is Raytheon Q1 2020?
Raytheon Technologies intends to hold an investor call to discuss United Technologies and Raytheon Q1 results on May 7, 2020 at 8:30am. The call details will be provided prior to the results announcement, and the call will be webcast on the Raytheon Technologies investor relations website.
What was the issue with Raytheon?
The issue for Raytheon had nothing to do with the company's internal operations, rather it was the company's planned merger with the aerospace arm of United Technologies ( NYSE:RTX). The deal is all stock, and as UTX slid during the month Raytheon shareholders went along for the ride.
When will Raytheon Technologies become official?
The new Raytheon Technologies is expected to become official in the first few days of April, and at that point there will be one stock that covers both the commercial and defense sides of the business instead of two different stocks moving in near unison.
Is UTX a commercial company?
UTX's aerospace division is heavily exposed to the commercial side of the business as the owner of Prat t & Whitney engines and Rockwell avionics and airplane interior products. Airlines have taken it on the chin during the pandemic, with global travel grinding to a halt.
Is Raytheon a defense contractor?
Raytheon is primarily a defense contractor, selling a range of specialized electronics, sensors, and missiles to U.S. and allied governments. While some manufacturing delays are likely due to the COVID-19 coronavirus pandemic, the business is unlikely to dry up even if the global economy hits rough times.
What happened
Shares of Raytheon Technologies ( RTX 4.11% ) 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. But the drop could have been much worse if not for a major deal the company completed earlier this year to diversify its revenue stream.
So what
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.
Now what
It's a difficult moment to try to get a feel for Raytheon Technologies. The company's commercial business could be affected for years by the pandemic and the economic aftershocks it causes, but the defense business is solid and growing.
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A “Merger of Equals” Defines The New Raytheon Stock
Deal Bolsters The Case For Rtn Stock
- I see this as a win for investors. With the merger, Raytheon stock will benefit from having an outlet outside of the defense industry with which it can apply some of its technology. For now, analysts predict earnings increase for RTN stock of 14.7% this year. As increases in defense spending continue to slow, this gives Raytheon an outlet for growt...
Concluding Thoughts on The Merger
- The new Raytheon stock will offer investors the best of both Raytheon and United Technologies, increasing the focus while broadening the customer base. With the merger, Raytheon gains two divisions as well as a foothold in the commercial side of the business. Holders of UTX stock get a more focused aircraft and aerospace company. They will also benefit from not owning a stock h…