|Bid||228.00 x 1100|
|Ask||229.41 x 1100|
|Day's Range||228.23 - 231.86|
|52 Week Range||163.56 - 233.48|
|Beta (5Y Monthly)||0.88|
|PE Ratio (TTM)||19.63|
|Earnings Date||Jan 29, 2020|
|Forward Dividend & Yield||3.77 (1.65%)|
|Ex-Dividend Date||Jan 05, 2020|
|1y Target Est||234.00|
BAE Systems Inc. will acquire business units from both Raytheon Corp. (NYSE: RTN) of Waltham, Massachusetts, and United Technologies Corp. (NYSE: UTX) of Farmington, Connecticut, as a way to help the latter two meet the antitrust requirements of their impending merger. The Arlington company reached agreements to acquire the GPS business of UTC subsidiary Collins Aerospace as well as Raytheon’s Airborne Tactical Radios business, according to a press release.
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.
Raytheon's (RTN) Dual Band Radar is the first radar system in the U.S. Navy fleet, capable of simultaneously operating two frequency ranges (S-band and X-band).
(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 email@example.comTo contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org, 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 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.
For years, Jeff Hunt piloted E-2C Hawkeye planes for the Navy, including several encounters with the Russians. Now, he's senior counsel at Raytheon Space and Airborne Systems in Dallas.
Raytheon Company (NYSE: RTN), in partnership with Student Veterans of America, is offering two U.S. Navy student veterans $10,000 each in scholarships under a new program announced during the Surface Navy Association's 32nd National Symposium.
Raytheon Company (NYSE: RTN) delivered its 10th AN/AQS-20C minehunting sonar system to the U.S. Navy. The sonar-towed body was officially transferred to the Naval Surface Warfare Center, Panama City Division. The system – which is the program of record for the Navy's Littoral Combat Ship mine countermeasure mission package – is now fully qualified and will move toward initial operating capability.
Raytheon Company (NYSE: RTN) was selected by the Federal Aviation Administration to improve the usability and reduce operational costs for the Standard Terminal Automation Replacement System. The modernization of STARS is critical to ensuring the national airspace continues to stay safe.
Raytheon Company (NYSE: RTN) has signed an exclusive teaming agreement with Major Tool & Machine, Inc. to develop array structures for the U.S. Navy's SPY-6 radar program when it transitions from low-rate initial production to hardware production and sustainment.
Defense contractors have continued to outpace the market as tensions heat up and the Pentagon focuses on Russia and China. So is Raytheon stock a good buy?
(Bloomberg Opinion) -- A would-be Boeing Co. takeover target has found its own dance partner.Woodward Inc., a maker of cockpit controls and engine-actuation systems, announced late Sunday that it’s merging with fellow aerospace supplier Hexcel Corp. The all-stock deal values Hexcel, a maker of lightweight composite materials, at about $7.5 billion including debt, with Woodward shareholders set to own about 55% of the combined company. While both suppliers have felt the sting of Boeing’s 737 Max grounding, executives said Sunday that the deal wasn’t a response to that crisis but rather an effort to position the combined company to better compete in the pursuit of more fuel-efficient engines.The effort to sell this merger as a play on climate change is interesting, and it shows the degree to which companies are taking seriously the increasing criticism of greenhouse-gas emissions. At the same time, it’s hard to extricate Boeing and its Max woes from the context of the deal. Just two years ago, it might have been Boeing making these kinds of arguments about the benefits of scale and combined research-and-development budgets.Boeing held preliminary talks with Woodward as it scouted targets for its push to build a services division with $50 billion in sales, according to reports in early 2018 from Bloomberg News and the Wall Street Journal. Woodward pushed back on those reports and said it wasn’t in discussions with Boeing on a possible sale. Boeing instead acquired KLX Inc.’s aerospace-distribution business for $4.25 billion and announced an auxiliary power unit joint venture with Safran SA. This added to home-grown efforts in avionics and cabin interiors and spooked investors in traditional suppliers of those parts and services.As recently as May, ex-Boeing CEO Dennis Muilenburg was talking about the prospect of additional deals in the vein of KLX – “a substantial, multi-billion dollar acquisition, but one that was complementary.” With the now 10-month Max grounding draining Boeing’s cash flow and mounting scrutiny over the company’s corporate culture and the integrity of its design process, it’s highly unlikely the company will be making acquisitions anytime soon, and entirely possible that its parts and services ambitions go no further.That creates an opportunity for its suppliers, and Woodward and Hexcel are right to seize the moment to gain more clout, particularly as it looks increasingly likely that Boeing will have to speed up development of a narrow-body successor to the 737. With new technologies requiring ever-higher levels of spending, it also just helps to have a bigger balance sheet. Woodward and Hexcel expect to spend $250 million on R&D in the first year after the deal closes, or about 5% of combined sales. That’s a roughly 15% step-up from estimated 2019 levels, notes Jefferies analyst Sheila Kahyaoglu. “Woodward and Hexcel touch nearly every aspect of aerospace design,” Hexcel CEO Nick Stanage, who will retain that role at the combined company, said on a conference call Sunday. The merged entity will be well-positioned to deliver “integrated systems that satisfy demands for aircraft aerodynamics, energy efficiency, improved safety and reduced emissions and noise.”The Woodward-Hexcel combination follows a United Technologies Corp. $100 billion buying spree over the past two years that saw the engine maker link up with avionics supplier Rockwell Collins Inc. and defense contractor Raytheon Co., as well as smaller tie-ups between Parker-Hannifin Corp. and Exotic Metals Forming Co. and TransDigm Group Inc. and Esterline Technologies Corp. Analysts expressed some caution on Hexcel and Woodward’s ambitious goal of generating $1 billion of cash flow in the first fiscal year after closing, and time will tell if the companies can follow through. But strategically, it’s a bold and smart move that should give the companies an upper hand in both the battle against climate change and any future battles with Boeing. To contact the author of this story: Brooke Sutherland at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Raytheon (NYSE: RTN) is developing a machine learning technology under a $6 million contract from the Defense Advanced Research Projects Agency for the Competency Aware Machine Learning program.
The decline came after the retailer reported third-quarter results late Wednesday—and surprised Wall Street with a quarterly net loss of 38 cents per share. It also hired a new CEO, Mark Tritton, who used to be chief merchandising officer for competitor Target (TGT). Now, Wall Street analysts are hoping Tritton can help Bed Bath and Beyond stage a turnaround.
The killing of General Soleimani by U.S. airstrike is the primary catalyst behind the Iran missile attack at Iraqi bases with U.S. troops.