I profiled Raytheon stock for Premium members back on March 21, 2018 in an article entitled Raytheon Rising Large Players Volume After Pocket Pivot. RTN stock is down -2.6 percent since profiled on March 21, 2018.

Yesterday (October 4, 2018), Jim Cramer said in his Lightning Round that Raytheon is one of the cheapest Defense stocks around. Welcome aboard the Raytheon train Cramer.

Revenue growth at Raytheon is picking up with the quarter-over-quarter growth rate of 5.55%, versus the 5 year average growth rate of 1.83%.

Raytheon stock trades a fairly good valuation with a PE ratio of 24, and a Forward PE ratio of 18.

RTN Stock

RTN chart

RTN stock has retaken its 200 day moving average. Large players volume is rising and the positive Twiggs Money Flow suggests the stock is being accumulated at current price levels. RTN stock looks like a decent setup pattern. We see reduced volatility while prices have been consolidating. There is a very little resistance above the current price. There is a support zone below the current price at $207.10, a stop order could be placed below this zone.

Disclosure: I do not hold any position in RTN stock.

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