I don’t blame anyone looking for Raytheon stock these days. It’s a slam dunk. But what still seems to confuse a lot of people (rightfully) is that the company isn’t called Raytheon anymore.
In July 2023, Raytheon changed its name to RTX Corp. (NYSE: RTX), joining other notable global brands like Facebook, now Meta, or Google, which I hear is actually something called Alphabet.
However, like those companies Raytheon changed its name because its business outgrew it. Indeed, Facebook isn’t just a social media website anymore — it’s a sprawling data collection, advertising, and technology firm. Same with Google.
In Raytheon’s case the name was changed to account for the company’s merger with United Technologies — a commercial aerospace company that included Collins Aerospace and Pratt & Whitney.
Taking on Collins and Pratt & Whitney proved to be a bit of a headache early on. They were effectively acquired during the pandemic, which was an obvious drag on the commercial airline industry. Join Wealth Daily today for FREE. We’ll keep you on top of all the hottest investment ideas before they hit Wall Street. Become a member today, and get our latest free report: “Guardians of Growth: 3 Defense Contractors for Savvy Investors.” After getting your report, you’ll begin receiving the Wealth Daily e-Letter, delivered to your inbox daily.The Best Free Investment You’ll Ever Make
It contains full details on the three companies that are set to provide explosive growth in the defense sector over the next Decade.
Worse, a recall at Pratt & Whitney affecting 3,000 jet engines last year cost RTX $3 billion to remedy. But things have really turned over the past year.
Pratt & Whitney’s revenue totaled $6.8 billion in the second quarter of 2024 — up 5.36% from the previous quarter and 19.31% from the same period in 2023.
Meanwhile, Collins Aerospace posted $7 billion in revenue, which is up 10% year over year.
That’s dovetailed nicely with higher revenue from the defense division, which now carries the Raytheon standard.
Raytheon Earnings
Raytheon generated $6.5 billion in sales and $709 million in operating profit in the second quarter.
Obviously, Raytheon remains integral to global defense — especially as a provider of missiles and missile defense systems.
When I talk about Raytheon, I always tell investors that it makes every missile you can name — the Tomahawk, the Stinger, the Sidewinder, the Javelin (which it co-manufactures with Lockheed Martin), and, of course, the Patriot.
Raytheon also partners with Rafael on Israel’s Iron Dome. In fact, RTX and Rafael recently announced plans for a new $33 million production facility in Arkansas that will produce Tamir and SkyHunter missiles to counter ongoing threats from adversaries in the Mideast.
No doubt, Raytheon has been extremely busy these days supplying both Ukraine and Israel, as well as the U.S. Defense Department, with ammunition and weapons platforms.
Most recently, last Thursday, the Army issued a $1.3 billion contract award to the Javelin Joint Venture with Lockheed.
Those deals have become routine in a new era of soaring defense budgets.
The United States alone is set to spend a record $895 billion on defense in the next year, with a military budget that is almost certain to top $1 trillion in the next presidential administration — regardless of who wins.
And global defense spending totaled $2.44 trillion in 2023 — up from $2.2 trillion in 2022. That figure will probably be even higher this year — and still higher in 2025.
So if you’re looking to cash in on defense, RTX (Raytheon) stock is a good way to do it. Of course, if you really want to profit from the defense sector, you should check out my latest report detailing the boom in AI-driven warfare.
Fight on, Jason Simpkins Simpkins is the founder and editor of Secret Stock Files, an investment service that focuses on companies with assets — tangible resources and products that can hold and appreciate in value. He covers mining companies, energy companies, defense contractors, dividend payers, commodities, staples, legacies and more… In 2023 he joined The Wealth Advisory team as a defense market analyst where he reviews and recommends new military and government opportunities that come across his radar, especially those that spin-off healthy, growing income streams. For more on Jason, check out his editor’s page. Be sure to visit our Angel Investment Research channel on YouTube and tune into Jason’s podcasts. Want to hear more from Jason? Sign up to receive emails directly from him ranging from market commentaries to opportunities that he has his eye on. 
