Raytheon (NYSE:RTN) Issues Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Raytheon (NYSE:RTN) issued its quarterly earnings data on Thursday. The aerospace company reported $3.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.86 by $0.22, RTT News reports. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.29 billion. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 EPS. Raytheon updated its FY19 guidance to $11.70-11.80 EPS.

RTN stock traded up $7.66 during trading hours on Thursday, reaching $211.21. 3,280,423 shares of the stock were exchanged, compared to its average volume of 1,914,064. The firm’s 50-day moving average is $196.97 and its 200-day moving average is $184.37. The company has a market cap of $57.01 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.35. Raytheon has a 12 month low of $144.27 and a 12 month high of $214.06.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, October 8th. Raytheon’s dividend payout ratio (DPR) is presently 35.53%.

RTN has been the topic of several research analyst reports. JPMorgan Chase & Co. raised Raytheon from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $225.00 to $230.00 in a research note on Monday, September 16th. Bank of America reaffirmed a “buy” rating and set a $265.00 price objective (up previously from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Cowen reaffirmed a “buy” rating and set a $225.00 price objective on shares of Raytheon in a research note on Thursday. ValuEngine downgraded Raytheon from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, Credit Suisse Group raised Raytheon from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $188.00 to $230.00 in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Raytheon currently has an average rating of “Buy” and a consensus price target of $214.68.

In other Raytheon news, VP Randa G. Newsome sold 4,300 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $199.10, for a total transaction of $856,130.00. Following the completion of the transaction, the vice president now owns 18,281 shares in the company, valued at approximately $3,639,747.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Wesley D. Kremer sold 2,915 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $583,000.00. Following the transaction, the vice president now owns 26,260 shares of the company’s stock, valued at approximately $5,252,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,769 shares of company stock valued at $2,120,750. Corporate insiders own 0.18% of the company’s stock.

Raytheon Company Profile

Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

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Earnings History for Raytheon (NYSE:RTN)

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