A major employer in Connecticut has a new name.
Raytheon Technologies Corp., parent company of East Hartford jet-engine maker Pratt & Whitney, has changed its name to RTX Corp., the company disclosed in a July 17 filing with the U.S. Securities and Exchange Commission.
This is the latest in a string of major changes for the Virginia-based aerospace and defense giant.
Raytheon Technologies Corp. formed in 2020 following the $135 billion merger of Farmington-based aerospace company United Technologies Corp. and defense contractor Raytheon Co., which was based in Massachusetts at the time.
The new company initially formed its headquarters in Waltham, Mass., but it announced plans last year to relocate its corporate address to Arlington, Virginia.
“This is more than a new brand,” RTX said on its website. “It is a signal of the next step in our company’s transformation. Now, three market-leading businesses — Collins Aerospace, Pratt & Whitney and Raytheon — are working as one to answer the biggest questions and solve the hardest problems in aerospace and defense.”
In addition to Pratt & Whitney, Collins Aerospace also has a presence in Connecticut.
Raytheon — which reported a $1.43 billion profit in the first quarter of 2023, up $1.1 billion from a year earlier — will report its second quarter financial results on July 25.
The company’s stock price, which was trading around $97 at 11 a.m., is down about 4% from the start of the year.
