Sterne Agee Reiterates Neutral Rating on Raytheon Company Following 2Q13 Recap

In a report published Tuesday, Sterne Agee analyst Peter Arment reiterated a Neutral rating on

. In the report, Sterne Agee noted, “RTN was able to beat Street EPS by $0.20 due to cost containment, international sales growth and capital deployment strategies to offset a soft top line. RTN increased 2013 EPS guidance given operational execution and capital deployments. RTN continues to have valuation support given its execution, despite weak domestic sales growth. Higher international mix continues to aid overall results, which partially reflects our increased EPS estimates coupled with lower pension costs.” Raytheon Company closed on Monday at $70.95.