Jul. 28, 2015, 10:58 AM
- Bank of America has upgraded Raytheon (RTN +0.1%) from Neutral to Buy, and assigned the stock a price target of $120, citing continuing robust free cash flow.
- The firm also mentioned that defense contractors, like Raytheon, were insulated to a large extent from movement in the U.S. dollar, global GDP and changes in commodity prices.
- Although RTN has declined since its acquisition of Websense in April 2015, BofA expects the company to continue to generate robust free cash flow, and expects 15% upside to the stock valuation.
Jul. 24, 2015, 11:24 AM
- Lockheed Martin (LMT -0.5%) says it has won $1.5B in new foreign orders for PAC-3 missiles used in the Patriot missile defense system built by Raytheon (RTN +0.1%).
- The contract includes PAC-3 and PAC-3 MSE interceptor deliveries for the U.S. Army, and foreign military sales of PAC-3 interceptors, associated equipment and spares for South Korea, Saudi Arabia, Qatar, Taiwan and the United Arab Emirates.
Jul. 23, 2015, 5:01 PM
- Raytheon (NYSE:RTN) declares $0.67/share quarterly dividend, in line with previous.
- Forward yield 2.6%
- Payable Nov. 12; for shareholders of record Oct. 7; ex-div Oct. 5.
Jul. 23, 2015, 10:20 AM
- Raytheon (RTN +6%) opens with strong gains after posting better than expected Q2 earnings and revenues, aided by strong international bookings and the favorable impact of a tax settlement.
- RTN lowers its 2015 EPS guidance to $6.47-$6.62 from its earlier outlook for $6.67-$6.82 to reflect April's $1.6B deal to acquire control of Websense, in line with analyst expectations, but raises its 2015 sales guidance to $22.7B-$23.2B from $22.3B-$22.8B, with Websense expected to add an extra $100M and the unit that builds the Patriot missile defense system boosting revenue by $300M.
- Patriot sales helped lift Q2 revenues by 2.8% to $5.85B, with $7.6B in orders boosting its book-to-bill ratio to 1.3.
- CFO Toby O'Brien says RTN expects the Websense acquisition to be accretive to earnings in 2-3 years, instead of 3-4 years as initially expected.
Jul. 23, 2015, 7:27 AM
- Raytheon (NYSE:RTN): Q2 EPS of $1.65 may not be comparable to consensus of $1.62.
- Revenue of $5.85B (+2.6% Y/Y) beats by $370M.
Jul. 21, 2015, 8:20 AM
- Raytheon (NYSE:RTN), in partnership with Fokker and Dallara, has developed a lower-cost carbon fiber airframe for the U.S. Air Force's Miniature Air Launched Decoy by applying robotics and formula racing technologies.
- The new innovative composite design will reduce airframe production costs by 25%.
Jul. 8, 2015, 8:36 AM
- Raytheon (NYSE:RTN) has delivered operational capability under a $79M Defense Threat Reduction Agency contract to help the government of Jordan secure its borders with Syria and Iraq.
- The contract included the delivery of key command, control, communications, and surveillance capabilities.
Jul. 6, 2015, 9:28 AM
- NASA has awarded the Raytheon (NYSE:RTN) a five year contract valued at up to $240M to continue its support of the Earth Observing Systems Data and Information System.
- This system ingests, archives and makes earth science data available to the scientific community worldwide. In fiscal 2014, EOSDIS managed 8,292 unique data set requests, 2M distinct users and 27.9 terabytes per day of data.
Jul. 1, 2015, 9:29 AM
- The U.S. Army Contracting Command awards Raytheon Company (NYSE:RTN) the TACOM Strategic Service Solutions indefinite delivery/indefinite quantity contract - a five-year multiple-award vehicle that has a ceiling value of $634M.
- The agreement covers future work on sensors, fire control systems, active protection systems, robotics and autonomous systems for a variety of U.S. Army platforms.
- RTN +0.2% premarket
Jun. 19, 2015, 8:38 AM
- The U.S. Navy awards Raytheon (NYSE:RTN) a multi-year contract valued at $153M to produce 53 maritime, littoral and overland surveillance radars for its fleet of Boeing P-8A Poseidon aircraft.
- To date, Raytheon has delivered 36 of 58 AN/APY-10 radars previously ordered by the U. S. Navy and will now produce 53 additional systems.
Jun. 16, 2015, 3:21 PM
- Lockheed Martin (NYSE:LMT) says it will team up with Raytheon (NYSE:RTN) and Bombardier (OTCPK:BDRAF, OTCQX:BDRBF) to develop a new surveillance and command and control aircraft for a future U.S. Air Force competition and a share of a contract valued at ~$4.3B.
- Jets from General Dynamics' (NYSE:GD) Gulfstream Aerospace unit also are being considered to replace the aging fleet of larger Boeing (NYSE:BA) 707 planes that are becoming too costly to fly in their role of monitoring forces on the ground.
- Northrop (NYSE:NOC) and Boeing also have said they plan to compete for the contract when the Air Force awards a deal, likely in 2016.
Jun. 16, 2015, 9:35 AM| Jun. 16, 2015, 9:35 AM
Jun. 12, 2015, 9:09 AM
- Raytheon (NYSE:RTN) has been awarded a $152.9M contract to produce APY-10 radar systems for installation in U.S. Navy and Royal Australian Navy P-8A Poseidon maritime patrol aircraft.
- The company also won a $56.4M modification contract for turret weapons system modernization for 34 Marine Corps Light Armored Vehicles.
Jun. 10, 2015, 9:32 AM
- Raytheon (NYSE:RTN) has completed extensive lab testing on the new extended range variant of the advanced Medium Range Air to Air Missile (AMRAAM).
- The tests validate that AMRAAM-ER can be integrated and employed from the NASAMS launcher.
- Previously: Raytheon reveals extended range AMRAAM (Feb. 23 2015)
Jun. 10, 2015, 7:33 AM
- The U.S. State Department has notified Congress it has approved potential arms deals worth nearly $2.4B with South Korea and Lebanon, including three Aegis Shipboard Combat Systems for Seoul and six close air support planes for Beirut.
- The principal contractors under the deal would be Lockheed Martin (NYSE:LMT), Raytheon (NYSE:RTN) and General Dynamics (NYSE:GD).
Jun. 9, 2015, 7:44 AM
- Marking the end of a hard-fought competition, Germany has decided to buy the MEADS missile defense system built by European defense group MDBA and Lockheed Martin (NYSE:LMT), instead of the Patriot system built by Raytheon (NYSE:RTN).
- The deal that could be worth up to $4.5B to the companies involved.
- MBDA is a consortium that includes Finmeccanica (OTCPK:FINMY), Airbus Group (OTCPK:EADSY) and BAE Systems (OTCPK:BAESY).
- Previously: Lockheed, Raytheon compete for European missile deals (Mar. 04 2015)
Raytheon Co. develops and manufactures engineering technology for government and commercial use in the areas of defense, government electronics and information technology. It provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing,... More
Sector: Industrial Goods
Industry: Aerospace/Defense - Major Diversified
Country: United States
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