Analysts predict that Raytheon Company (NYSE:RTN) will announce sales of $6.33 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Raytheon’s earnings. The lowest sales estimate is $6.29 billion and the highest is $6.37 billion. Raytheon posted sales of $6.03 billion in the same quarter last year, which suggests a positive year over year growth rate of 5%. The company is scheduled to report its next earnings report before the market opens on Thursday, October 26th.
On average, analysts expect that Raytheon will report full year sales of $6.33 billion for the current financial year, with estimates ranging from $25.27 billion to $25.57 billion. For the next fiscal year, analysts forecast that the business will post sales of $26.42 billion per share, with estimates ranging from $26.07 billion to $26.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Raytheon.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. During the same period in the prior year, the company posted $2.38 EPS. Raytheon’s quarterly revenue was up 4.2% on a year-over-year basis.
Several analysts have recently weighed in on RTN shares. Argus reissued a “buy” rating and set a $195.00 price objective (up previously from $175.00) on shares of Raytheon in a report on Friday, August 4th. Bank of America Corporation reissued a “buy” rating and set a $200.00 price objective (up previously from $185.00) on shares of Raytheon in a report on Tuesday, August 1st. BidaskClub lowered Raytheon from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Stifel Nicolaus reissued a “buy” rating and set a $185.00 price objective (up previously from $175.00) on shares of Raytheon in a report on Sunday, July 30th. Finally, Vetr raised Raytheon from a “hold” rating to a “buy” rating and set a $178.87 price objective on the stock in a report on Monday, July 17th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Raytheon currently has an average rating of “Buy” and an average price target of $194.07.
Shares of Raytheon (NYSE:RTN) opened at 186.95 on Friday. The company’s 50 day moving average price is $184.96 and its 200 day moving average price is $169.38. Raytheon has a 52-week low of $132.89 and a 52-week high of $189.64. The firm has a market capitalization of $54.26 billion, a price-to-earnings ratio of 25.82 and a beta of 0.59.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be paid a dividend of $0.7975 per share. The ex-dividend date is Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.71%. Raytheon’s dividend payout ratio (DPR) is presently 43.94%.
In related news, VP Frank R. Jimenez sold 500 shares of Raytheon stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total transaction of $90,970.00. Following the completion of the sale, the vice president now directly owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Frank R. Jimenez sold 650 shares of Raytheon stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,770 shares of company stock valued at $1,052,376. 0.19% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. St. Johns Investment Management Company LLC acquired a new position in Raytheon in the second quarter valued at about $113,000. Jacobi Capital Management LLC grew its stake in Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after acquiring an additional 553 shares during the period. Tarbox Family Office Inc. grew its stake in Raytheon by 1,666.7% in the second quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after acquiring an additional 750 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in Raytheon in the second quarter valued at about $139,000. Finally, CWM LLC grew its stake in Raytheon by 7.4% in the second quarter. CWM LLC now owns 916 shares of the aerospace company’s stock valued at $148,000 after acquiring an additional 63 shares during the period. 73.62% of the stock is owned by institutional investors and hedge funds.
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Raytheon Company Profile
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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