On Friday, Raytheon Company (NYSE:RTN), dipped -1.03 points or -0.96%. The stock is currently trading at $106.61.
The one-year high recorded for the company is currently $113.36. The 50-day moving average for the company is $104.41, while the 200-day moving average for the company is currently at $105.65. On Mar 20, 2015, the shares registered one-year high at $113.36 and the one-year low was seen on Oct 15, 2014.
Today, The U.S. Armys Excalibur Program Office has determined that Raytheon Companys (RTN) Excalibur Ib precision guided artillery round is fully compatible with the M198 howitzer when used with the Modular Artillery Charge System.
The compatibility allows allied military forces to use the worlds only 155 mm precision munition when firing the M198 howitzer. Excalibur extends the M198s reach to 31 miles (50 kilometers) and provides an all-weather strike within 6 1/2 feet (2 meters) of the target.
Many of our international partners have an urgent need to address vital security interests, and Excalibur lb meets that need, said Mark Hokeness, Raytheons Excalibur program director. This eliminates the time and cost of further compatibility testing in the M198 howitzer.
Excalibur is a precision-guided, extended-range projectile that uses GPS guidance to provide accurate, first-round effects capability in any environment. Excaliburs high level of precision delivers a major reduction in the time, cost, and logistical burden associated with other artillery munitions. Excalibur has been fielded by the U.S. Army, Marines and several international military forces.
In the same week, on August 18, U.S. Special Operations Command has awarded the SOCOM-Wide Mission Support (SWMS) contract to Raytheon Company. The multiple award is an indefinite delivery-indefinite quantity vehicle with a $900 million ceiling.
Under this Group A contract, Raytheon Blackbird Technologies will provide professional, program administration, and technical services to special operations forces (SOF) around the world. The Group A SWMS contract vehicle is designed for large companies to work as prime contractors. It has a five-year ordering period.
This award recognizes Raytheons position as a trusted provider of training and mission support services to the Department of Defense, said Dave Wajsgras, president of Raytheon Intelligence, Information, and Services. Raytheon will draw upon its deep expertise to bring professional and mission support services to special operations forces wherever needed around the globe, with the speed and agility necessary to meet mission objectives.
Our team prides itself on innovation, quick response, and effective execution, said Peggy Styer, chief executive of Raytheon Blackbird Technologies. These strengths will be used to support SOCOM in its worldwide missions.
Raytheon Company has dropped -4.73% from its peak and trades at just 15.31 times forward earnings projections. The consensus price target for the stock is $119.50 a share. The 52-week range is $92.96 to $113.36. Up +10.74% over 12 months, the company has a market cap of $32.49B.
Raytheon Company develops integrated products, services, and solutions in the areas of sensing; effects; command, control, communications, and intelligence; mission support; and cyber and information security worldwide.