Raytheon, General Dynamics Hit Highs - TheStreet

Raytheon, General Dynamics Hit Highs

Rockwell Automation, Raytheon and General Dynamics hit 52-week highs on Thursday.
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BOSTON (TheStreet) -- Stocks rose Thursday after new data showed that business conditions were improving. These industrial stocks that hit 52-week highs.

3. Rockwell Automation

(ROK) - Get Report

rose 1.3% to $53.78, hitting a high of $53.80 during the day. Shares of the electrical components company have climbed 11% during the past month.

The numbers

: Fiscal first-quarter profit dropped 35% to $77 million, or 54 cents a share, as revenue decreased 10% to $1.1 billion. Rockwell's operating margin narrowed from 13% to 11%. The company holds $716 million of cash and $905 million of debt.

The stock

: We rate Rockwell Automation "hold." The stock has doubled during the past year, beating major U.S. indices. The shares are cheaper than those of electrical equipment peers based on projected earnings and sales. They are expensive based on trailing earnings, book value and cash flow.

2. Raytheon

(RTN) - Get Report

climbed 1.5% to $55.36, reaching $55.63 earlier in the day. Shares of the aerospace and defense contractor have gained 1% during the past month.

The numbers

: Fourth-quarter net income increased 20% to $504 million and earnings per share rose 27% to $1.30, helped by a smaller float. Revenue grew 9.5% to $6.7 billion. Raytheon's operating margin widened from 11% to 12%. The company holds $2.6 billion of cash and $2.3 billion of debt.

The stock

: We rate Raytheon "buy." The stock has increased 20% during the past year, trailing U.S. benchmarks. The shares are cheaper than those of aerospace and defense peers based on all of our valuation measures, including trailing earnings, projected earnings, book value, sales and cash flow.

1. General Dynamics

(GD) - Get Report

rose 2.4% to $71.78, touching $71.99 earlier in the day. Shares of the aerospace and defense contractor have shed 0.7% during the past month.

The numbers

: Fourth-quarter profit inched up 0.3% to $614 million, but earnings per share declined 2.5% to $1.58, hurt by a higher share count. Revenue inched up to $7.9 billion. The company's net margin remained steady at 8%. General Dynamics holds $2.3 billion of cash and $3.9 billion of debt.

The stock

: We rate General Dynamics "buy." The stock has advanced 33% during the past year, keeping pace with the

Dow Jones Industrial Average

. The shares are cheaper than those of aerospace and defense peers based on all of our valuation measures.

-- Reported by Jake Lynch in Boston.