Raytheon CEO says company is seeking to divest global training and logistics business

The chief executive of Raytheon Technologies said today the company's portfolio transformation is "essentially complete" -- but the contractor is planning to divest its global training and logistics unit.

During an investor day, Greg Hayes said the unit is "not a bad business, but not a growth business."

He noted the business, with about $1 billion in sales, is part of Raytheon Intelligence and Space.

Hayes said Raytheon is now looking to "operational transformation," which he said is "really just beginning."

This effort is intended to improve profit margins and sales, he said.