Raytheon Company (RTN, Financial)
Raytheon performed well during the quarter, growing both sales and earnings. The company’s performance is supported by a record backlog of $43 billion. Raytheon’s planned all-stock merger with United Technologies’ aerospace division is expected to close in the first half of 2020. This merger is designed to leverage nearly 100 years of experience to bring the company more in line with its competitors like Boeing and Lockheed Martin. Management is confident that the merged company will be a cash flow generating machine. Raytheon is continually creating new, and innovative products such as a new, smaller and cheaper missile that will replace the 30-year-old missile currently used in the F-35 fighter jet.
From Jeff Auxier (Trades, Portfolio)'s third-quarter 2019 commentary.
