Stock Update: Raytheon Co (NYSE:RTN) – Patriot destroys missile and aircraft targets in test

[PR Newswire] – In a series of tests, the newly upgraded Raytheon [NYSE: RTN] Patriot Integrated Air and Missile Defense system proved it can destroy cruise missiles and aircraft with different kinds of interceptors. The combat-proven Patriot system, upgraded with a suite of enhancements collectively known as Post-Deployment Build 8, successfully detected, tracked and engaged a cruise missile surrogate target in a July 8 test. It then destroyed the target with a GEM-T interceptor. A few minutes later, the PDB-8 Patriot repeated the process with a tactical fighter aircraft target, and destroyed the plane using a PAC-3 MSE interceptor. “Using an interceptor mix to destroy different threats is cost-effective and provides commanders with operational flexibility,” said Ralph Acaba, Raytheon vice president of Integrated Air and Missile Defense. Read more on this. Raytheon Company (RTN) , with a current value of $41.13B, opened this morning at $137.58. During the trading session, RTN traded between $136.64 to $138.67 and has traded between $96.68 and $138.67 over the past year. Raytheon (RTN) shares are currently priced at 19.15x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 21.97x earnings multiple for the same period. The company pays shareholders $2.93 per share annually in dividends, yielding 2.14%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $1.58 per share, which would be $0.07 worse than the year-ago quarter and a $0.01 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $7.15, which would be a $0.39 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.83 Billion. If realized, that would be a 0.34% decrease over the year-ago quarter. In terms of ratings, Guggenheim Initiated RTN at Buy (Apr 5, 2016). Previously, Argus upgraded RTN from Hold to Buy. The average price target for RTN shares by the analysts covering the stock is $141.13, which is 2.58% above where the stock opened this morning. See more in (NYSE:RTN) Similar Articles: Company Update (NYSE:RTN): US Navy uses Raytheon’s SeaRAM to knock out complex targets in at-sea test Market Update: Raytheon Co (NYSE:RTN) – Patriot, one; ballistic missile, zero Company Update (NYSE:RTN): Raytheon’s SeaRAM hits target with newest missile variant in US Navy live-fire test