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RAYTHEON TECHNOLOGIES CORPORATION

(RTX)
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Delayed Nyse  -  04:00:01 2023-03-24 pm EDT
96.44 USD   +0.46%
03/24Raytheon Technologies : rsquo; Pratt & Whitney Business Announces Plans for $255M Investment in Oklahoma City Sustainment Center Near Tinker AFB
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03/23Raytheon Technologies Completes Delivery of Landing Systems to US Navy
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03/23Raytheon Technologies completes delivery of 23 Joint Precision Approach and Landing Systems to the U.S. Navy
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Raytheon Technologies : Pratt & Whitney Supports Commercial Aviation Industry Commitment to Achieve 2050 Net Zero …

10/06/2021 | 05:16am EDT

EAST HARTFORD, Conn., October 5, 2021 - Pratt & Whitney today joined an industry-wide commitment to achieve net zero air transport carbon emissions by 2050, in support of the Paris Agreement 1.5ºC goal.

In a declaration released today by the Air Transport Action Group (ATAG), of which Pratt & Whitney is a founding member, representatives of the world's major aviation industry associations, aircraft and engine makers committed that, "global civil aviation operations will achieve net-zero carbon emissions by 2050, supported by accelerated efficiency measures, energy transition and innovation across the aviation sector and in partnership with Governments around the world."

"With the growing urgency of addressing climate change, and the need to ensure sustainable growth in global air connectivity, the ambition to 'fly net zero' is an essential and defining challenge for our industry," said Chris Calio, President of Pratt & Whitney. "As the leading developer of state-of-the-art aircraft propulsion systems, we are continually advancing the efficiency of engines across our portfolio, including the development of hybrid-electric and hydrogen-powered technologies, while also supporting the wider use of sustainable aviation fuels (SAF). All these elements will be critical for the aviation industry to meet its emissions reduction goals, for the benefit of our communities, the environment, and our customers."

Pratt & Whitney is already shaping the future of sustainable aviation. With more than $10 billion invested in a new clean-sheet engine design over two decades, the Pratt & Whitney GTF™ engine family delivers up to 20% better fuel consumption, 50% lower NOx emissions and a 75% smaller noise footprint compared to prior-generation engines. Since entering service in 2016, GTF engines have already saved airlines more than 0.5 billion gallons of fuel and more than 5 million metric tons of CO2. With more than 1,000 GTF-powered aircraft already delivered, and over 10,000 engine orders and commitments to date, Pratt & Whitney's GTF is a key enabler for airlines to grow passenger numbers and route networks as sustainably as possible.

Pratt & Whitney is also developing advanced, hybrid-electric propulsion technologies, to further improve the efficiency of next generation aircraft. Earlier this year, Pratt & Whitney progressed plans to integrate hybrid-electric technology into a Dash 8-100 flight demonstrator, supported by investment from the governments of Canada and Quebec. The regional aircraft-scale demonstrator, developed in partnership with Collins Aerospace and De Havilland Canada, is targeting a 30% improvement in fuel efficiency compared to today's most advanced turboprops.

About Pratt & Whitney
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft and helicopter engines, and auxiliary power units. To learn more visit its www.prattwhitney.com. To receive press releases and other news directly, please sign up here.

Disclaimer

Raytheon Technologies Corporation published this content on 05 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 October 2021 09:15:05 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2023 72 430 M - -
Net income 2023 5 812 M - -
Net Debt 2023 27 349 M - -
P/E ratio 2023 22,4x
Yield 2023 2,36%
Capitalization 141 B 141 B -
EV / Sales 2023 2,32x
EV / Sales 2024 2,15x
Nbr of Employees 182 000
Free-Float 85,0%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 96,44 $
Average target price 109,15 $
Spread / Average Target 13,2%
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Managers and Directors
Gregory J. Hayes Chairman & Chief Executive Officer
Christopher T. Calio President & Chief Operating Officer
Neil G. Mitchill Chief Financial Officer & Executive Vice President
Mark E. Russell Chief Technology Officer & Senior Vice President
Robin Diamonte Chief Investment Officer
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