Raytheon Technologies Corp. on Tuesday said its board authorized the repurchase of up to $6 billion of common stock.
The Waltham, Mass., defense giant, which has about 1.5 billion shares outstanding, sports a market capitalization topping $125 billion based on Tuesday’s closing price of $85.01.
Raytheon, which bought back $1 billion worth of stock during the third quarter, said the new authorization replaces a $5 billion repurchase program the board approved last December.