Raytheon Company (RTN) to Issue $0.80 Quarterly Dividend
Raytheon Company (NYSE:RTN) declared a quarterly dividend on Wednesday, November 15th, RTT News reports. Investors of record on Wednesday, January 3rd will be paid a dividend of 0.7975 per share by the aerospace company on Thursday, February 1st. This represents a $3.19 dividend on an annualized basis and a yield of 1.74%.
Raytheon has raised its dividend by an average of 10.1% annually over the last three years and has raised its dividend every year for the last 12 years. Raytheon has a dividend payout ratio of 41.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Raytheon to earn $8.24 per share next year, which means the company should continue to be able to cover its $3.19 annual dividend with an expected future payout ratio of 38.7%.
Shares of Raytheon (NYSE RTN) traded down $1.09 during midday trading on Wednesday, reaching $182.85. 1,076,704 shares of the company were exchanged, compared to its average volume of 1,479,651. The firm has a market capitalization of $53,324.99, a PE ratio of 24.40, a P/E/G ratio of 2.51 and a beta of 0.57. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66. Raytheon has a 52-week low of $137.70 and a 52-week high of $190.25.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.07. The firm had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.79 earnings per share. analysts forecast that Raytheon will post 7.61 EPS for the current year.
Several research firms have recently weighed in on RTN. BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Morgan Stanley began coverage on shares of Raytheon in a report on Tuesday, August 8th. They issued an “equal weight” rating and a $188.00 price target for the company. Argus reiterated a “buy” rating and issued a $195.00 price target (up previously from $175.00) on shares of Raytheon in a report on Friday, August 4th. Buckingham Research upped their price target on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report on Friday, August 11th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $189.00 price target (up previously from $182.00) on shares of Raytheon in a report on Thursday, August 10th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $199.24.
In other Raytheon news, VP Taylor W. Lawrence sold 3,791 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total transaction of $690,303.19. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Frank R. Jimenez sold 500 shares of the company’s 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 sale, the vice president now directly owns 29,292 shares in the company, valued at $5,329,386.48. The disclosure for this sale can be found here. Insiders have sold 4,941 shares of company stock worth $902,999 over the last ninety days. Insiders own 0.19% of the company’s stock.
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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