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NEW YORK ( TheStreet) -- Raytheon Company (NYSE: RTN) hit a new 52-week high Thursday as it is currently trading at $53.97, above its previous 52-week high of $53.55 with 123,833 shares traded as of 9:35 a.m. ET. Average volume has been 2.4 million shares over the past 30 days. Raytheon has a market cap of $18.01 billion and is part of the industrial goods sector and aerospace/defense industry. Shares are up 9.4% year to date as of the close of trading on Wednesday. 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 10, equal to the average aerospace/defense industry P/E ratio and below the S&P 500 P/E ratio of 17.7.