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Stock Update (NYSE:RTN): Future drones, planes, missiles no match for new Raytheon radar

[PR Newswire] – ANDOVER, Mass., Feb. 2, 2016 /PRNewswire/ — Air and missile defense is about to get better. Raytheon Company (RTN) recently completed a series of company-funded milestones to upgrade the combat-proven Patriot Air and Missile Defense System. The projected upgrade delivers 360-degree capability and keeps Patriot ahead of increasingly more sophisticated threats, such as aircraft, drones, and cruise and ballistic missiles. The Patriot radar main array was enhanced with gallium nitride- (GaN) based, Active Electronically Scanned Array (AESA) technology. The same Raytheon engineers who completed those milestones are currently constructing a GaN-based AESA, full-size, main panel radar array. Read more on this. Raytheon Company (RTN) , valued at $37.36B, opened this morning at $124.57. During today’s session, RTN traded between $123.10 to $125.54 with its 52-week range being $95.32 to $129.99. RTN shares are currently priced at 17.73x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 42.74x forward p/e ratio. And for passive income investors, the company pays shareholders $2.68 per share annually in dividends, yielding 2.09%. According to a consensus of 18 analysts, the earnings estimate of $1.42 per share would be $0.37 worse than the year-ago quarter and a $0.17 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $7.08, which would be a $0.32 better when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.46 Billion. If reported, that would be a 3.21% increase over the year-ago quarter. Recently, Argus upgraded RTN from Hold to Buy (Nov 12, 2015). Previously, JP Morgan upgraded RTN from Neutral to Overweight. The average price target for RTN shares by the analysts covering the stock is $137.94, which is 10.73% above where the stock opened this morning. See more in (NYSE:RTN) Similar Articles: Stock Update: Raytheon Co (NYSE:RTN) – Raytheon loses attempt to halt new U.S. Air Force look at radar bids Stock Update: Raytheon Co (NYSE:RTN) – Raytheon wins prestigious Brandon Hall award for Patriot missile battery virtual training Stock Update: Raytheon Co (NYSE:RTN) – Patriot Air and Missile Defense celebrates 50 years of innovation
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