|Bid||637.60 x 0|
|Ask||637.80 x 0|
|Day's Range||638.40 - 646.20|
|52 Week Range||5.69 - 648.80|
|Beta (5Y Monthly)||0.47|
|PE Ratio (TTM)||15.43|
|Earnings Date||Feb 20, 2020|
|Forward Dividend & Yield||0.19 (2.94%)|
|Ex-Dividend Date||Oct 17, 2019|
|1y Target Est||652.67|
BAE Systems will provide C5ISR, technical support, and life cycle sustainment to the U.S. Navy to improve situational awareness.
Defense contractor BAE Systems was the best-performing U.K. large-cap company on Monday after announcing plans to buy two different companies that need to be divested for the merger between Raytheon and United Technologies to complete.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.BAE Systems Plc snapped up more than $2 billion in U.S. defense-technology assets that Raytheon Inc. and United Technologies Corp. were forced to sell in order to gain antitrust approval for their merger.Europe’s biggest defense firm will buy the military global positioning system arm of UTC’s Collins Aerospace unit for $1.93 billion, together with Raytheon’s airborne tactical radios operation at a cost of $275 million, it said Monday.The assets came to market following regulatory scrutiny of the Raytheon-UTC merger and the acquisitions are subject to successful closure of that deal, according to a statement from London-based BAE, which said both businesses are focused on areas of highest-priority U.S. defense spending.“It’s rare that two businesses of this quality, with such strong growth prospects and close fit to our portfolio, become available,” BAE Chief Executive Officer Charles Woodburn said in the release, adding that they’ll be folded into the group’s electronics-systems sector.BAE shares rose as much as 3.4% and were trading 2.9% higher at 642.60 pence as of 8:31 a.m. in London. The stock is already up 14% this year following a 23% gain in 2019.The Collins GPS unit is based in Cedar Rapids, Iowa, employs about 675 people and is expected to post adjusted earnings of $127 million on $359m in sales this year, BAE said. The Raytheon radios operation has 100 staff at facilities in Indiana and Florida, with sales of around $125 million last year.To contact the reporter on this story: Christopher Jasper in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Anthony Palazzo at email@example.com, Andrew Noël, Tara PatelFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The defense-and-security company said that it will pay $1.93 billion for Collins Aerospace’ GPS business and $275 million for Raytheon Co.’s (RTN) radio business.
UK defence group BAE Systems is paying $1.93bn in cash for the military global positioning business of US engineer Collins Aerospace, in its biggest acquisition in more than a decade. The GPS business makes military receiver systems and its products are used on hundreds of US defence platforms, including the two highest-volume weapons programmes for the US Air-Force, BAE said on Monday. last year of Raytheon and United Technologies, with regulators requiring the two groups to divest assets.
British defence company BAE Systems said it was buying two businesses for $2.2 billion to help grow in Electronic Systems, picking up units which had become available as a result of the merger of U.S. rivals Raytheon and United Technologies. BAE said on Monday that it had entered into an agreement to buy Collins Aerospace's Military Global Positioning System for $1.925 billion in cash, and a separate agreement for Raytheon's Airborne Tactical Radios business for $275 million. "Completion of both acquisitions are subject to successful closure of the Raytheon-United Technologies Corporation (UTC) merger, as well as customary regulatory approvals and conditions," the company said in a statement.
BAE Systems, Inc. announced agreement for proposed acquisition of Collins Aerospace military GPS and Raytheon Airborne Tactical Radios businesses.
BAE Systems is paying a steep 17 times ebitda for the GPS business of Collins Aerospace. BAE is spending money on equipment that helps the military maintain its core competencies of breaking things and killing people. The group is acquiring a business specialising in GPS receivers for the US military, its main market.
The Ministry of Defence has paid millions of pounds in additional management fees to contractors responsible for overseeing the infrastructure needed to support the Britain’s nuclear deterrent programme — even though they are running at least £1.35bn over budget and years behind schedule.
BAE Systems has successfully fired an integrated, long-range anti-tank guided missile from the CV90 Infantry Fighting Vehicle in recent tests.
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BAE Systems’ Norfolk Shipyard will conduct an 18-month extensive modernization program aboard the guided missile cruiser USS Vicksburg (CG 69).
LONDON MARKETS British stocks slumped on Monday in a broad-based retreat on worries over Middle East tensions. The U.K. FTSE 100 (UK:UKX) weakened 0.78% to 7562.72, with decliners outnumbering advancers by a 1589-to-590 margin.
BAE Systems announced the U.S. Navy has signed a $2.68 billion ID/IQ contract for the purchase of thousands of additional APKWS® Laser-Guided Rockets.
The U.S. Army has awarded BAE Systems a $249 million contract modification to complete an additional 60 M109A7 self-propelled howitzers.
The DIA has awarded BAE Systems a ten-year prime contractor position on an IDIQ worth over $17 billion to provide worldwide military intelligence.
BAE Systems, Inc. today announced that Tom Arseneault will become president and chief executive officer of BAE Systems, Inc., effective April 1, 2020.
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BAE Systems received a DARPA contract to develop new cyber tools to help prevent vulnerabilities in electronic files that can lead to cyberattacks.