Raytheon (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 1.70%. The ex-dividend date is Tuesday, January 2nd.
Raytheon has increased its dividend payment by an average of 10.1% annually over the last three years and has increased its dividend every year for the last 12 years. Raytheon has a payout ratio of 41.9% indicating that its dividend is sufficiently covered by earnings. 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%.
Raytheon (NYSE RTN) opened at $187.85 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. The stock has a market cap of $54,305.00, a PE ratio of 25.25, a price-to-earnings-growth ratio of 2.55 and a beta of 0.58. Raytheon has a twelve month low of $141.28 and a twelve month high of $192.41.
In other news, Director Stephen J. Hadley sold 800 shares of Raytheon stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $190.27, for a total value of $152,216.00. Following the completion of the sale, the director now directly owns 11,360 shares in the company, valued at $2,161,467.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.
Raytheon declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 15th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
RTN has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 target price for the company in a report on Thursday, September 14th. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Cowen reaffirmed a “buy” rating and issued a $203.00 target price on shares of Raytheon in a report on Thursday, October 26th. Robert W. Baird reaffirmed a “buy” rating and issued a $212.00 target price on shares of Raytheon in a report on Tuesday, October 24th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $209.00 target price on shares of Raytheon in a report on Tuesday, October 10th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Raytheon has a consensus rating of “Buy” and a consensus target price of $201.77.
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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