Raytheon Awarded Contract with US Navy (RTN)
On December 28, Technology company, Raytheon Company(RTN) was awarded a contract with the US Navy for their DDG 1000 and DDG 1001 programs.
The company has been awarded a $169 million contract for their fixed-price incentive, cost-plus-fixed-fee equipment for DDG 1000 and DDG 1001. The Naval Sea Systems Command in Washington, D.C. will be the contractor.
The contract includes purchases from the U.S. Navy and well as several international governments. This contract will contribute for RTN’s fourth quarter.
Raytheon shares were mostly flat during premarket trading Monday. The stock is up 17% YTD.
The Bottom Line
We have been recommending shares of Raytheon (RTN) since Mar.23, 2012, when the stock was trading at $51.96. The company has a 3.53% dividend yield, based on Friday’s closing stock price of $56.70.
Raytheon Company(RTN) is a “Recommended” dividend stock at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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