Screwed the pooch on a P&W engine component!

I don't think they should be taken to the woodshed over this (but then I'm long), originally bought it for the dividend, bought another 30% today...it's not a large portion of my portfolio.

Someone tell me I didn't screw the pooch too!

BTW, it's for a previous engine, same component for the new engines but it doesn't appear to impact the new engines. Just the old ones that now will require inspection and some replacements.

I just bought some Sept 1, 2023 call options.

It seems the market overreated today, IMO/

Raytheon is a shell of it's former self. The UTC "merger" has been a disaster for the legacy company. The UTC side dragged the entire company down durring the pandemic and that's the side that is dragging them down now with the engine issues.

Edit to add: when the merger happened Cramer felt the UTC side was the stronger side and will help lift the defense side up lol

permabull said:

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Raytheon is a shell of it's former self. The UTC "merger" has been a disaster for the legacy company. The UTC side dragged the entire company down durring the pandemic and that's the side that is dragging them down now with the engine issues.

Edit to add: when the merger happened Cramer felt the UTC side was the stronger side and will help lift the defense side up lol

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RTX market cap is 127 billion. That's a pretty big shell.

Peak market cap was 143 billion.

permabull said:

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Raytheon is a shell of it's former self. The UTC "merger" has been a disaster for the legacy company. The UTC side dragged the entire company down durring the pandemic and that's the side that is dragging them down now with the engine issues.

Edit to add: when the merger happened Cramer felt the UTC side was the stronger side and will help lift the defense side up lol

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Cramer is a clown.

I worked at Hamilton Sundstrand in Hartford CT back in 2012-14 and then UTC Aerospace systems for two years in Charlotte

they totally destroyed that company by selling off the constituent pieces and then merging with Raytheon. It's a mess.

so many Harvard Business Review studies show Mergers/Acquisitions of large companies rarely work long term

Can you link to some background on the engine issue?

Pratt & Whitney has revealed that hundreds of its PW1100G engines will need to be returned and checked for microscopic cracks. The CEO of Pratt & Whitney's parent company, RTX, said that the reason for the recall was a "rare condition" in the powdered metal used to produce some of the engines' high-pressure turbine disks.

At this point I think UTC spins Raytheon off and sells them to Boeing or NG. Merger has been a disaster for legacy Raytheon.

VitruvianAg said:

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Screwed the pooch on a P&W engine component!

I don't think they should be taken to the woodshed over this (but then I'm long), originally bought it for the dividend, bought another 30% today...it's not a large portion of my portfolio.

Someone tell me I didn't screw the pooch too!

BTW, it's for a previous engine, same component for the new engines but it doesn't appear to impact the new engines. Just the old ones that now will require inspection and some replacements.

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I worked for UTC Aerospace which is now part of RTX and still have a 401K through them so I follow them pretty closely

I don't invest in them but prefer Lockheed Martin.