Continue to site >
Trending ETFs


Raytheon Raises Dividend by 7% After Mixed Q1 Earnings

Raytheon Technologies Corp. (RTX) is a global premier systems provider of high-tech products and services to the aerospace and defense industries.

The company generated 76.5% of its revenue from products and 23.5% of its revenue from services during the first quarter of 2021. In terms of customer concentration, the company’s revenue is derived from the U.S. government (50.8%), commercial sources (33%), foreign military sales through the U.S. government (8.5%), and foreign government sales (7.7%).

Mixed Q1 Results, Positive Guidance

Raytheon reported first-quarter revenue that rose by 34.2% to $15.25 billion, missing consensus estimates by $80 million, and non-GAAP earnings of 90 cents per share, beating consensus estimates by seven cents. With a strong defense backlog and a recovery in commercial air travel, the company raised the lower end of its 2021 outlook.

Analysts have been relatively bullish on the stock despite headwinds in commercial travel and a global chip shortage. In May, Redburn analyst Jeremy Bragg initiated coverage with a buy rating, citing large, market-leading, high-quality companies that are well placed to outgrow their respective markets, including Pratt & Whitney, Collins Aerospace and Raytheon Defense.

The company raised its quarterly dividend by 7.4% to $0.51 per share, which represents a 2.43% forward yield. The dividend is payable on June 17, 2021, to shareholders on record as of May 21, 2021.

Want to keep track of all dividend increases? Subscribe to and have complete access to our exclusive dividend increases list here.