Raytheon Is Said to Explore Sale of Actuation Business

Raytheon Technologies Corp. is considering a sale of a unit that makes products including flight controls, which could fetch about $1 billion, according to people familiar with the matter.

The Arlington, Virginia-based company is working with an adviser to examine strategic options for the actuation unit, said the people, who asked not to be identified because they weren’t authorized to speak publicly.

The unit is expected to attract interest from corporate suitors and private equity firms, the people said.

A representative for Raytheon declined to comment.

Raytheon, led by Chief Executive Officer Gregory Hayes, consists of four primary businesses: ...