Raytheon has rebranded - Patriot and Tomahawk manufacturer is now officially called RTX

US defence contractor Raytheon Technologies dropped its century-old name this week. The company has rebranded as part of a review of its corporate strategy.

Here's What We Know

The maker of the MIM-104 Patriot surface-to-air missile systems, Tomahawk cruise missiles and other weapons is now called RTX. Not to be confused with NVIDIA's new graphics cards.

The rebranding comes three years after Raytheon merged with aerospace maker United Technologies Corp. to form Raytheon Technologies. Since then, the stock has been traded under the ticker RTX.

In the summer of 2022, the company announced it would move its headquarters to Arlington, Virginia. Plans were announced this year to reorganise into three brands: Collins Aerospace, Pratt & Whitney and Raytheon.

The restructuring is needed to better align the company's business with customer priorities, improve productivity and use resources more efficiently. The announcement was made in the spring by Christopher Calio, chief operating officer of RTX.

Source: Defense News