Last we wrote about Raytheon Technologies there was one major factor that made them extremely attractive.
And that is the United States Government.
Why? It is because Raytheon pulls is ~60% of their revenue from the sale of defense products and services. The United States alone accounts for 61% of these sales. The reason the US government accounts for such a large portion of their revenue is because the US spends more money on military defense than any other country in the world! With this unlikely to change anytime soon, Raytheon is in a position to constantly be pulling in revenue. However, Raytheon is no one trick pony. They also have a massive presence in the commercial airlines world that has nice tailwinds coming into play for the stock. We therefore are adjusting our price target upwards on the news, and are excited for what is next. Let’s jump into the details and the projected price below!