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Stock Update: Raytheon Co (NYSE:RTN) – US Army awards Raytheon, DRS $56 million to develop next-gen infrared night vision

[PR Newswire] – TUCSON, Ariz., April 5, 2016 /PRNewswire/ — The U.S. Army awarded $56 million to the team of Raytheon Company (NYSE: RTN), and DRS Technologies to engineer, manufacture and develop the 3rd Generation … Read more on this. Raytheon Company (RTN) , with a current market cap of $37.71B, began trading this morning at $123.80. Today, shares have traded between $123.58 and $126.35 per share with a one year range of $95.32 to $129.99. Priced at 17.53x this year’s forecasted earnings, RTN shares are relatively expensive compared to the industry’s 12.91x forward p/e ratio. And for dividend hunters, the company pays shareholders $2.93 per share annually in dividends, yielding 2.38%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $1.36 per share, which would be $0.43 worse than the year-ago quarter and a $0.22 sequential decrease. Investors should also note that the full-year EPS estimate of $7.03 is a $0.27 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.45 Billion. If realized, that would be a 3.02% increase over the year-ago quarter. In terms of ratings, Argus upgraded RTN from Hold to Buy (Nov 12, 2015). Previously, JP Morgan upgraded RTN from Neutral to Overweight. Investors should keep in mind is that the average price target is $140.19, which is 13.24% above where the stock opened this morning. See more in (NYSE:RTN) Similar Articles: Stock Update (NYSE:RTN): National Science Foundation awards Raytheon $8 million to continue building the future Internet Stock Update (NYSE:RTN): Raytheon to offer new long-range missile for U.S. Army fires requirement Company Update: Raytheon Co (NYSE:RTN) – U.S. Navy awards Raytheon $159 million for Phalanx production
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