NEW YORK ( TheStreet) -- Raytheon Company (NYSE: RTN) hit a new 52-week high Tuesday as it is currently trading at $52.36, above its previous 52-week high of $52.28 with 1.4 million shares traded as of 3:05 p.m. ET. Average volume has been 2.3 million shares over the past 30 days. Raytheon has a market cap of $17.2 billion and is part of the industrial goods sector and aerospace/defense industry. Shares are up 7.3% year to date as of the close of trading on Monday. Raytheon Company designs, develops, manufactures, integrates, and supports technological products, services, and solutions for governmental and commercial customers in the United States and internationally. The company has a P/E ratio of 9.8, below the average aerospace/defense industry P/E ratio of 10 and below the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Raytheon as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, attractive valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Raytheon Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.