Return of air travel lifts Raytheon

Article Excerpt

RAYTHEON TECHNOLOGIES CORP. $87 is a buy. The company (New York symbol RTX; Conservative-Growth Payer Portfolio; Manufacturing & Industry sector; Shares outstanding: 1.5 billion; Market cap: $130.5 billion; Dividend yield: 2.3%; Dividend Sustainability Rating: Above Average; www.rtx.com) is a leading maker of commercial aircraft equipment, electronic systems for military aircraft and radar systems, and guided missiles. In June 2021, Raytheon raised your quarterly dividend by 7.4%. The new annual rate of $2.04 a share yields 2.3%. The stock has gained 20% in the past year, and now trades at 20.6 times Raytheon’s forecast 2021 earnings of $4.22 a share. That’s a reasonable p/e, particularly as demand from commercial aircraft makers is rising as air travel volumes rebound . Raytheon Technologies is a buy. buy…