E A New Stock Buy: Raytheon

With the proceeds from Polaris and the profits from Tractor Supply which we discussed in our last article, we plan to buy Raytheon (RTN).

Raytheon Company is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions throughout the world. Raytheon provides state-of-the-art missile defense, command and control, electronic warfare, sensor and imaging and precision weapons systems.The company develops integrated training, mission support and cybersecurity services for customers in more than 80 countries.

GLOBAL MARKET LEADER

Vannevar Bush, who would become dean of MIT's School of Engineering, Laurence Marshall, an engineer, and Charles G. Smith, a scientist who had done work on the electrical properties of gases, founded the American Appliance Company in 1922. Three years later, the company changed its name to Raytheon Manufacturing Company.
 
Their revolutionary innovation was the S gas rectifier tube, a device that eliminated one of the cumbersome expensive batteries that previously powered home radios. The tube transformed the radio into an affordable appliance that could be plugged into a wall socket.
 
During World War II, Raytheon supplied 80% of the magnetron tubes used in U.S. and British radars and developed parts for the crucial proximity fuse in antiaircraft shells. By the end of the war, every U.S. patrol torpedo boat was equipped with the Raytheon radar, allowing them to see at night and to search and destroy U-boats. 

After the war, Raytheon began offering civilian products. The most famous wasthe microwave, originally called the “Radarange”. Raytheon engineer, Percy Spencer, discovered microwave cooking when he stood in front of an active magnetron, and a candy bar in his pocket began to melt. Intrigued, he placed kernels of popcorn in front of the tube, and they popped. 

Over the following decades, Raytheon introduced the first missile capable of intercepting inflight objects; helped guide the Apollo 11 and transmit the TV signals back to Earth; and developed the Patriot missile defense system. Nearly a century after its founding, Raytheon stands as a global technology leader with 64,000 employees specializing in defense and homeland security.

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