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Raytheon Set to Offer Retrofits for Boeing's F-15 Jet Fleet

Raytheon Set to Offer Retrofits for Boeing's F-15 Jet Fleet

Raytheon Company RTN recently secured a $15-million modification contract for retrofitting F-15 jet fleet with Mode 5 capable Identify Friend or Foe units. The deal was awarded by the Air Force Life Cycle Management Center, Wright-Patterson Air Force Base, OH.

Raytheon Company RTN recently secured a $15-million modification contract for retrofitting F-15 jet fleet with Mode 5 capable Identify Friend or Foe units. The deal was awarded by the Air Force Life Cycle Management Center, Wright-Patterson Air Force Base, OH.

Per the terms of the agreement, Raytheon will offer 196 F-15C/D APX-114 and 196 F-15 C/D APX-119 retrofit units, which provide National Security Agency approved cryptography as well as robust anti-jam interrogation and reply encryption capabilities.

Work related to the deal will be executed in Aberdeen Proving Grounds, MD; and Largo, FL. The entire task is expected to be completed by December 2021.

A Brief Note on F-15


Boeing’s BA F-15 Strike Eagle is a twin-engine, all-weather tactical fighter aircraft. Its proven design is unbeatable in air-to-air combat, with more than 100 aerial combat victories.

What Favors Raytheon?

With rising geopolitical uncertainties worldwide, many developing countries like India have substantially increased their defense spending. Developed nations already account for a significant share of global defense expenses. This, in turn, has bolstered the demand for weaponries. As the United States is the leading weapon exporter, its defense contractors enjoy a dominant position in the defense space. Raytheon is one such contractor. It witnesses frequent flow of contracts from the Pentagon as well as foreign allies of the United States for its various products.

Backed by such contract wins, the company’s Space and Airborne Systems (SAS) unit is benefiting significantly. The unit develops integrated sensors, retrofit components and aircraft communication systems. In the first quarter of 2019, this segment registered solid sales growth of 5% year over year.

Furthermore, the U.S. fiscal 2020 defense budget provisions major war fighting investments worth $57.7 billion for aircraft. Such budgetary developments should benefit Raytheon’s SAS unit with more contracts related to aircraft retrofit components flowing in. These contracts will boost the company’s overall profit margin.


Price Movement

In a year’s time, shares of Raytheon have lost 14.4% against the industry’s 7.8% rally.


Zacks Rank & Key Picks

Raytheon currently carries a Zacks Rank #3 (Hold). A few better-ranked companies in the same sector are Leidos Holdings LDOS and Northrop Grumman NOC, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Leidos Holdings delivered average positive earnings surprise of 6.81% in the last four quarters. The Zacks Consensus Estimate for 2019 earnings has moved 1.1% up to $4.58 over the past 60 days.

Northrop delivered average positive earnings surprise of 18.50% in the trailing four quarters. The Zacks Consensus Estimate for 2019 earnings has climbed 1.8% to $19.29 over the past 90 days.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.


Source: Zacks Equity Research (finance.yahoo.com) – 09 June 2019

Photo: This illustration shows the U.S. Air Force Boeing F-15 Strike Eagle 2040C with an increased missile load.(Photo by Courtesy of Boeing)




(9.6.2019)


 
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