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Raytheon Board Approves Share Repurchase Worth $6 Bln

Massachusetts-based aerospace defense company, Raytheon Technologies Corporation (RTX), announced that its board of directors have agreed to repurchase $6 billion worth of outstanding common stock overwriting the previous plan signed December 7, 2020.

The company has notified the details of the plan which is to be held as and when the company deems fit, according to Raytheon.

Following the news, the stock is trading at $86.30 in the after-hours market, up $1.29 or 1.52% since the close of regular trade at $85.01. The market opened at $84.43 after closing at $83.76 on the previous day.

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