|Bid||0.00 x 1200|
|Ask||0.00 x 900|
|Day's Range||115.00 - 126.85|
|52 Week Range||103.00 - 233.48|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||9.81|
|Earnings Date||Apr 22, 2020 - Apr 26, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||240.50|
Raytheon Technologies debuted on the Dow Jones Industrial Average Friday after the closing of its massive merger.
A mega-merger almost a year in the making is now complete. Defense contractor Raytheon Corp. finalized its merger with United Technologies Corp. Friday to officially form Raytheon Technologies Corp. (NYSE: RTX), per a filing with the Securities and Exchange Commission. The deal, which had been in the works since the companies announced their proposed “merger of equals” in June, creates one of the world's largest aerospace and defense companies with 195,000 employees and roughly $74 billion in 2019 net sales.
This is day one of trading for a vastly changed company - Raytheon - now merged with United Technologies to form Raytheon Technologies.
Among past week's highlights, a handful of defense majors won notable deals from Pentagon. However, coronavirus-led broader market turmoil affects share price performance of defense stocks.
Raytheon Technologies Corporation (NYSE: RTX) announced the successful completion of the all-stock merger of equals transaction between Raytheon Company and United Technologies Corporation on April 3, 2020, following the completion by United Technologies of its previously announced spin-offs of its Carrier and Otis businesses. 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.
A major U.S. defense contractor has landed a $146 million Navy deal that will provide work for two of its local offices, including one south of Dayton.
GE closed the sale of its biopharma division to Danaher on Tuesday. United Technologies will complete its merger with Raytheon on Friday.
Raytheon's (RTN) RAM Guided Missile Weapon System is a cooperative development and production program, conducted jointly by the United States and Germany.
Retailer Macy's Inc. (NYSE: M) will be removed from the S&P 500 Index later this week, S&P Dow Jones Indices announced late Tuesday.What Happened The Cincinnati-based company will instead become a part of the S&P SmallCap 600 Index on Friday."Macy's has a market capitalization more representative of the small-cap market space," S&P Dow Jones Indices said in a statement. The retailer's stock is down 70.6% year-till-date and has been reduced to a market cap of $1.5 billion.United Technologies Corp. (NYSE: UTX), which is merging with Raytheon Co. (NYSE: RTN) to form a new entity Raytheon Technologies Corp. (NYSE: RTX), will remain a part of both S&P 500 and S&P 100 under its new name.The conglomerate's spinoffs Carrier Global Corp. (NYSE: CARR) and Otis Worldwide Corp. (NYSE: OTIS) will both become a part of the S&P 500 index as well, replacing Macy's and Raytheon Co.The novel coronavirus (COVID-19) pandemic has significantly impacted the business of retailers, including Macy's. The company on Monday announced it would furlough a majority of its employees as its stores across the United States remain shut, and sales have dropped drastically.Price Action Macy's shares closed 8.57% lower at $4.91 on Tuesday and traded another 1.43% lower at $4.84 in the after-hours market.Photo Credit: Paulo JC Nogueira via Wikimedia.See more from Benzinga * Van Gogh Painting Stolen On His Birthday As Museum Closed Due To Coronavirus * Cronos Group Reports Earnings Beat, Misses Revenue Estimates For Q4 * Zoom Shares Drop As New York Attorney General Looks Into Company's Privacy, Security Practices(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Standard General, the hedge fund battling for board seats at Tegna Inc, called on the U.S. regional TV station operator on Tuesday to open its books to two bidders still interested in acquiring the company amid the coronavirus crisis. Tegna said on Sunday that turbulent market conditions, driven by the coronavirus pandemic, had weighed on its negotiations with potential acquirers. It said two remaining bidders had not signed confidentiality agreements to enable due diligence, and had not delivered any information on financing sources.
Macy's Inc will be removed from the benchmark S&P 500 stock index, the S&P Dow Jones Indices said on Tuesday, as coronavirus-induced store closures compound the retail sector's struggles with a shift to online shopping. The company's shares have plunged more than 70% so far this year, leaving Macy's with a market value of $1.52 billion as of Tuesday's close, according to Refinitiv IBES data. "Macy's has a market capitalization more representative of the small-cap market space," S&P said, adding that the company would become part of the S&P small-cap 600 index, effective April 6.
S&P; 500 and 100 constituent United Technologies Corp. (NYSE: UTX) is spinning off Otis Worldwide and Carrier Global and then merging with Raytheon in transactions expected to be completed on April 3. Post spin-off and merger transactions, United Technologies will remain in the S&P; 500 & 100 indices. It will change its name to Raytheon Technologies Corp. and its ticker symbol to RTX.
S&P Dow Jones Indices said late Tuesday retailer Macy's Inc. will join the S&P SmallCap 600 and Otis Worldwide Corp. and Carrier Global Corp. will join the S&P 500. As the merger between United Technologies Corp. and Raytheon Co. is expected to close on Friday, United Technologies will remain in the S&P 500 and S&P 100 indices under its new name, Raytheon Technologies Corp. , under the ticker symbol RTX. Otis Worldwide and Carrier will be added to the S&P 500 at the open on Friday, with Otis replacing Raytheon and Carrier replacing Macy's, S&P Dow Jones said. Macy's and Raytheon will be removed from the broader index at the open on Monday. "Macy's has a market capitalization more representative of the small-cap market space," S&P Dow Jones said. Macy's has a market capitalization around $1.5 billion, from about $7 billion a year ago. The stock has lost about 80% in the last 12 months, compared with losses around 10% for the S&P 500 . The company on Monday said it was furloughing most of its workers after losing most of its sales amid the coronavirus pandemic.
Raytheon Co. has reached a $2.1 billion multiyear contract with the U.S. Missile Defense Agency to build SM-3 Block IB ballistic missile interceptors through 2023. The SM-3 is the only ballistic missile interceptor that can be launched on land and at sea, Raytheon said. "This procurement deal is a win-win for government and industry," said Mitch Stevison, Raytheon Strategic and Naval Systems vice president, in a statement.
The all-stock merger of the Waltham-based defense contractor and the Connecticut-based industrial giant is set to close this week.
Raytheon Company (NYSE: RTN) will produce and deliver SM-3® Block IB interceptors under a $2.1 billion, multi-year U.S. Missile Defense Agency contract. It is the first multi-year contract for the SM-3 program, and covers fiscal years 2019–2023.
Raytheon Company (NYSE: RTN) and United Technologies Corporation (NYSE: UTX) announced that they have received the necessary regulatory approvals for their all-stock merger of equals and expect to close the merger prior to the opening of trading on the New York Stock Exchange (NYSE) on Friday, April 3, 2020, the distribution date for United Technologies' spin-offs of Carrier and Otis.
Tucson missile maker Raytheon Co. says a new $1 billion multiyear deal for propulsion systems from California-based Aerojet Rocketdyne will result in savings for the U.S. Department of Defense and American taxpayers. Raytheon said in an announcement the multiyear deal allows it to save money in its supply chain as it fulfills contracts with the Missile Defense Agency and U.S. Navy.
United Technologies won a key approval for the merger of its aerospace unit with Raytheon but needs to sell more assets.
The U.S. Justice Department has approved United Technologies Corporation's planned merger with Raytheon Co , subject to conditions, the agency said on Thursday. UTC agreed in June to combine its aerospace business with U.S. contractor Raytheon and create a new company worth about $121 billion, in what would be the sector's biggest ever merger. To win U.S. approval, the companies agreed to divest Raytheon's military airborne radios business, including facilities in Indiana and Florida, and UTC's military global positioning systems, including a facility in Connecticut.
Raytheon Company's (NYSE: RTN) Missile Systems business has reached a $1 billion, five-year strategic agreement to purchase propulsion systems from Aerojet Rocketdyne for Standard Missile products. The deal represents a supply chain centerpiece of multi-year Standard Missiles contracts that Raytheon recently received.
Raytheon (RTN) is going to deliver Block II and Block II plus AIM-9X tactical missiles along with parts like captive air training missile guidance units and sectionalization kits