Raytheon Technologies Corporation (NYSE: RTX), a leading aerospace and defense company, has announced its strategic plans to evolve from "Raytheon Technologies" to "RTX" as part of its portfolio realignment. This transition will focus on strengthening its businesses, including Collins Aerospace, Pratt & Whitney, and Raytheon.

With this strategic move, RTX aims to maximize its potential by capitalizing on its impressive $180 billion backlog of commercial aerospace and critical defense projects. The company is well-positioned to leverage its broad capabilities, scale, and operational excellence.

In line with its capital deployment priorities, RTX is committed to generating significant free cash flow. By 2025, the company aims to achieve $9 billion in free cash flow and plans to return between $33 and $35 billion to shareholders through dividends and share repurchases, spanning from the merger between UTC and Raytheon Company until the end of 2025.

RTX has reaffirmed its full-year 2023 financial outlook, which includes projected sales of $72.0 to $73.0 billion, adjusted EPS of $4.90 to $5.05, and a share repurchase program of $3.0 billion.

$RTX closed at $97.74, down $0.26 (-0.27%) on Friday

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