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Thursday, January 30, 2014

Raytheon keeping eye on possible M&A opportunities - CEO, (NYSE: RTN)

Raytheon Co is closely watching for possible acquisition opportunities among low- and mid-tier defense companies that can have future growth, but will not purchase just to boost revenues, Chief Executive Officer William Swanson said Thursday. "Right now the mid- and lower-tiers are facing some ... pressure," Swanson told analysts on an earnings conference call, adding he thought at least some of the companies would be looking for buyers going forward.He said Raytheon's strong balance sheet put it in a good position for acquisitions, but it was not looking to simply buy revenue."Just to buy something for revenue sake, that never works," Swanson said. "But where it fits in, especially where we see future growth, then that would be the case."

Raytheon Company together with its subsidiaries, is a technology company specializing in defense, homeland security and other government markets worldwide. Shares of RTN traded higher by 0.16% or $0.14/share to $88.77. In the past year, the shares have traded as low as $52.24 and as high as $92.69. On average, 1655310 shares of RTN exchange hands on a given day and today's volume is recorded at 313844.