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Stock Update: Raytheon Co (NYSE:RTN) – Top U.S. arms buyer to meet Raytheon CEO on long-delayed GPS ground system

[Reuters] – Top Pentagon and Air Force officials will meet on Tuesday with Raytheon Chief Executive Tom Kennedy for another “deep dive review” of the company’s long-delayed ground control system for next generation GPS satellites, U.S. defense officials said. Pentagon chief arms buyer Frank Kendall, Air Force Secretary Deborah James and other officials will meet with the Raytheon Co leader in Colorado to review progress made by the company as it struggles to complete a program that is already years behind schedule. Read more on this. Raytheon Company (RTN) , currently valued at $36.87B, began trading this morning at $121.88. During today’s session, RTN traded between $121.62 to $123.56 with its 52-week range being $95.32 to $129.99. RTN shares are currently priced at 17.40x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 30.57x forward p/e ratio. And for income investors, the company pays shareholders $2.68 per share annually in dividends, yielding 2.14%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $1.39 per share, which would be $0.40 worse than the year-ago quarter and a $0.20 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $7.04 is a $0.28 improvement 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 15.02% above where the stock opened this morning. See more in (NYSE:RTN) Similar Articles: Stock Update: Raytheon Co (NYSE:RTN) – NASA recognizes Raytheon for small business support Stock Update: Raytheon Co (NYSE:RTN) – Raytheon unveils next-gen TOW EagleFire launcher Stock Update: Raytheon Co (NYSE:RTN) – Raytheon loses attempt to halt new U.S. Air Force look at radar bids
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