Raytheon Technologies' (NYSE: RTX) Board of Directors authorized today the repurchase of up to $5 billion of the company's outstanding common stock. The new authorization replaces the company's previous program, approved Oct. 14, 2015. Share repurchases may take place from time to time, subject to market conditions and at the company's discretion, in the open market, through privately negotiated transactions or other means.

About Raytheon Technologies

Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ? Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ? the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.