Raytheon Communities Pay Attention

Waltham defense giant Raytheon Co. yesterday posted a 54 percent jump in second-quarter earnings and said it may sell its largest non defense business, Raytheon Aircraft Co. of Wichita, Kan.

Raytheon said it had hired the Credit Suisse investment bank to "explore strategic alternatives" for its general aviation division, which builds business jets, turboprops, and piston aircraft for commercial markets and trainer aircraft for the Air Force and the Navy. Among its best known products are Beechcraft and Hawker business jets.

The alternatives could include selling all or part of Raytheon Aircraft to another company, spinning it off as a standalone business, or issuing stock to shareholders in an initial public offering. Company officials cautioned, however, that there may be no transaction.

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