At a time when economic indicators warn of a recession, travel demand is voracious, investors could find an aerospace and defense conglomerate Raytheon Technologies less outdated than they thought.
The stock fell on Tuesday after Raytheon reported second-quarter revenue that fell short of Wall Street expectations. Rocket engine supply issues, among other supply chain issues, led to disappointing sales in its Missiles and Defense division. Engine-maker Pratt & Whitney, which powers the ubiquitous Airbus A320 jet family, said last week it was unlikely to meet Airbus’ target of 75 jets per months until 2026, a year later than the aircraft manufacturer would like. .