RTX Corporation - RTX STOCK NEWS

Raytheon Technologies CFO Neil Mitchill will present at UBS's Global Industrials and Transportation virtual conference on June 8, 2021, at 10:00 a.m. ET. The live presentation can be accessed at www.rtx.com and will be archived on the site afterward. Raytheon Technologies is a leading aerospace and defense company formed in 2020, offering advanced systems and services to military, commercial, and government clients worldwide, with a focus on innovation in various technologies.

Raytheon Technologies Corp. (NYSE: RTX) is retrofitting OxyTruck mobile oxygen filling stations from its Collins Aerospace unit to assist with the COVID-19 crisis in India. Each truck can carry around 270,000 liters of oxygen, aiding hospitals in New Delhi. The delivery is set for May 26, 2021. In addition, the company has donated 1.2 million personal protective equipment items and funding for 1,000 oxygen concentrators. Employee donations towards COVID-19 relief efforts are also being matched, showcasing the company's commitment to supporting India during this crisis.

Raytheon Technologies (NYSE: RTX) and GLOBALFOUNDRIES have announced a collaboration to develop gallium nitride on silicon (GaN-on-Si) semiconductors. This partnership aims to enhance radio frequency performance for 5G and 6G infrastructure. Raytheon will license its GaN technology to GF, which will produce the semiconductors at its Burlington, Vermont facility. Both companies emphasize this technology's importance for advanced military systems and commercial applications, ensuring high performance at reduced costs. GF plans to double its investment in 2021 to expand production capacity.

Blue Canyon Technologies LLC, a subsidiary of Raytheon Technologies (NYSE: RTX), has been awarded a contract to provide 6U CubeSat buses and an Engineering Development Unit for the VISORS program. This initiative, sponsored by the National Science Foundation, aims to study energy-release regions in the sun's corona. Key components will be delivered for testing before the program's launch. Blue Canyon's technology is expected to enhance scientific understanding of the sun's plasma physics. The company supports nearly 50 unique missions with over 90 spacecraft currently in production.

Raytheon Intelligence & Space, part of Raytheon Technologies (NYSE: RTX), has secured a five-year contract worth up to $175 million to provide signals intelligence field services for the U.S. Air Force's Distributed Common Ground System. This contract will support seven intelligence applications, enhancing data collection and analysis capabilities while optimizing costs and operations. According to David Appel, the new structure improves mission coverage and operational efficiency. Raytheon Intelligence & Space aims to provide high mission availability throughout the end-to-end operation.

Collins Aerospace, a unit of Raytheon Technologies (NYSE: RTX), has successfully upgraded the U.S. Navy's C-130T and KC-130T aircraft fleet with advanced wheels and carbon brakes. The new brakes, featuring DURACARB® carbon heat sink material, significantly outperform existing models, allowing for 2,000 landings per overhaul compared to just 250. This upgrade reduces maintenance time and costs substantially. The innovative boltless wheels also minimize maintenance with a simplified design. Collins Aerospace continues to support military platforms globally, enhancing safety and operational efficiency.

Raytheon Intelligence & Space, a Raytheon Technologies business, has secured a $318 million contract with the Transportation Security Administration to expand checked baggage screening equipment deployment at all federally managed airports nationwide. Previously active in 155 airports, this contract extends their services to approximately 430 federal airports. With over 20 years of collaboration with TSA and 1,700 TSA security equipment installations in the last six years, Raytheon aims to enhance passenger security against evolving threats.

Raytheon Technologies reported strong first quarter 2021 results with sales reaching $15.3 billion and adjusted EPS of $0.90, surpassing initial expectations. The company increased its full year sales outlook to $63.9 - $65.4 billion and adjusted EPS to $3.50 - $3.70. Operating cash flow was $723 million with free cash flow of $336 million. The backlog stood at $147.4 billion, reflecting solid defense bookings. The company resumed its share repurchase program, buying back $375 million in shares. An investor day is scheduled for May 18, 2021.

Raytheon Technologies (NYSE: RTX) announced the retirement of executive chairman Thomas A. Kennedy effective June 1, 2021, marking one year since the merger completion. CEO Greg Hayes will assume the role of chairman. Kennedy has been a pivotal figure since joining in 1983, overseeing the merger and integration of Raytheon and United Technologies. The company also declared a quarterly cash dividend of 51 cents per share, a 7% increase from the previous quarter. These changes aim to enhance leadership continuity and shareholder value.