Raytheon was a “high conviction” buy expressed on the blog in August. The stock price is now up 20%+ following back-to-back strong quarterly earnings results.
Next year United Technology shareholders will vote on the merger with Raytheon. We expect this to proceed and anticipate further shareholder value to be unlocked in 2020.
Raytheon is listed on the New York Stock Exchange. If you would like Investor Signals to manage your international share portfolio, please call us on 1300 614 002.
Raytheon, (listed on the New York Stock Exchange) is now under Algo Engine buy conditions and was added into our US S&P100 model portfolio, prior to last week’s earnings result.
Raytheon is a major U.S. defense contractor and industrial corporation with core manufacturing concentrations in weapons, military and commercial electronics. In 2020 the company will merge with United Technologies and we anticipate the merger will help unlock value for shareholders and underpin the growth story for many years to come.
The stock trades 19x earnings and a 2 % dividend yield. A combination of the upcoming merger and the large scale of future share buybacks has Raytheon on our “high conviction” buy list.