Raytheon (NYSE:RTN) declared a quarterly dividend on Thursday, May 30th, RTT News reports. Stockholders of record on Wednesday, July 10th will be paid a dividend of 0.9425 per share by the aerospace company on Thursday, August 1st. This represents a $3.77 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, July 9th.
Raytheon has increased its dividend by an average of 9.1% per year over the last three years and has raised its dividend every year for the last 14 years. Raytheon has a dividend payout ratio of 38.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Raytheon to earn $13.12 per share next year, which means the company should continue to be able to cover its $3.77 annual dividend with an expected future payout ratio of 28.7%.
Shares of NYSE RTN opened at $173.65 on Monday. The business has a 50 day moving average price of $178.54. The company has a market capitalization of $48.60 billion, a P/E ratio of 16.37, a PEG ratio of 1.33 and a beta of 0.87. Raytheon has a 52-week low of $144.27 and a 52-week high of $210.89. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.32. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.58 billion. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 earnings per share. As a group, equities research analysts forecast that Raytheon will post 11.62 earnings per share for the current year.
In related news, VP Wesley D. Kremer sold 8,186 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $185.00, for a total transaction of $1,514,410.00. Following the completion of the transaction, the vice president now directly owns 29,175 shares of the company’s stock, valued at $5,397,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.
A number of brokerages recently weighed in on RTN. ValuEngine downgraded shares of Raytheon from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a research report on Wednesday, April 17th. Jefferies Financial Group increased their price objective on shares of Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Buckingham Research downgraded shares of Raytheon from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $265.00 to $195.00 in a research report on Monday, June 24th. Finally, UBS Group downgraded shares of Raytheon from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $220.00 to $200.00 in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Raytheon currently has an average rating of “Buy” and an average price target of $207.47.
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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