Do we like them?

Do we like Raytheon (RTX)?

Aerospace and defence group (Raytheon missiles and radar, Pratt & Whitney engines, Collins Aerospace), based in Arlington, Virginia.

Our score: 3 out of 10. We wouldn't back them. They agreed to a roughly $950m bribery and overcharging settlement in 2024, and the engine defect has cost customers heavily. Defence is their core business.

RTX was formed when Raytheon merged with United Technologies. It now covers missiles and radar through Raytheon, jet engines through Pratt & Whitney, and aircraft systems through Collins. It is listed on the US stock exchange.

In October 2024 Raytheon signed two deferred prosecution agreements with the DOJ and settled with the SEC, in a package of about $950m. The cases covered bribery involving a Qatari military official, overcharging the US government, and export violations.

The overcharging case began with a lawsuit from a former employee, who is set to receive $4.2m. Both agreements require an independent compliance monitor for three years.

On the engine side, a powder-metal manufacturing flaw in Pratt & Whitney's GTF engines was expected to cost over $7bn. A June 2026 report said it grounded about 835 aircraft. That hurts airlines and passengers. Because of the bribery and overcharging cases, plus the defect, we score them low.