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Business/Financial

Raytheon Boosts Stock Repurchase Authority By $2 Billion

By Cal Biesecker

Thursday, November 19th, 2015

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Raytheon Boosts Stock Repurchase Authority By $2 Billion

Raytheon Chairman and CEO Tom Kennedy. Photo: Raytheon

With its cash flow generation strong, Raytheon [RTN] on Wednesday said it has authorized the repurchase of up to an additional $2 billion of the company’s stock.In July the company outlined a $1 billion share repurchase target for 2015 and in October Tom Kennedy, Raytheon’s chairman and CEO, said the company was on track to meet its goal.Under the expanded share repurchase program, buybacks will be at the company’s discretion depending on market conditions.Raytheon is maintaining a balanced approach to…

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