Raytheon (NYSE:RTN) has awarded a contract to Contraves Advanced Devices Sdn. Bhd.

Raytheon Gives Out Missile Contract

Raytheon (NYSE:RTN) Company has awarded an initial contract to Contraves Advanced Devices Sdn. Bhd.Malasia, for the production and supply of components for the Evolved Sea Sparrow Missile (ESSM).

Contraves is the first Malaysian company to join the global team of ESSM suppliers.

Kevin Peppe, vice president of Seapower Capability Systems for Raytheon (NYSE:RTN)’s Integrated Defense Systems business, said that, “Through this partnership with Contraves, Raytheon (NYSE:RTN) is extending our global supply chain network and enhancing our presence and expertise in Malaysia. Raytheon (NYSE:RTN)’s shared commitment to quality and performance will allow us to deliver exceptional capabilities to our customer and industry, now and into the future”.

Raytheon (NYSE:RTN) shares were at 50.36 at the end of the last day’s trading. There’s been a 11.5% change in the stock price over the past 3 months.

Raytheon (NYSE:RTN) Analyst Advice
Consensus Opinion: Hold
Mean recommendation: 2.24
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 2.17
Zack’s Rank: 1 out of 6 in the industry