Raytheon Company (RTN) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $1.85 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $1.77. The company posted revenue of $6035.00 million in the period, compared to analysts expectations of $5832.99 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS.
Many Wall Street Analysts have commented on Raytheon Company. Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 127 from a previous price target of $125 .
Raytheon Company opened for trading at $136.67 and hit $138.2 on the upside on Thursday, eventually ending the session at $138.06, with a gain of 2.01% or 2.72 points. The heightened volatility saw the trading volume jump to 20,75,327 shares. Company has a market cap of $41,001 M.
In a different news, on Jun 8, 2016, Michael J Wood (VP, Controller & CAO) sold 2,582 shares at $133.35 per share price. According to the SEC, on Jun 8, 2016, Rebecca R Rhoads (Vice President) sold 4,781 shares at $133.80 per share price. On Jun 8, 2016, Anthony F O’brien (Vice President and CFO) sold 1,238 shares at $133.35 per share price, according to the Form-4 filing with the securities and exchange commission.
Raytheon Company together with its subsidiaries is a technology Company that specializes in defense and other Government markets. The Company develops products services and solutions in markets: sensing; effects; command control communications and intelligence (C3I); and mission support as well as cyber and information security. The Company operates in four segments: Integrated Defense Systems (IDS); Intelligence Information and Services; Missile Systems and Space and Airborne Systems. The Company serves both domestic and international customers as both a prime contractor and subcontractor on a portfolio of defense and related programs primarily for Government customers. The Company’s products include Global Integrated Sensors Integrated Air & Missile Defense Cybersecurity and Special Missions Global Training Solutions Land Warfare Systems Advanced Missile Systems Tactical Airborne Systems Advanced Missile Systems and Electronic Warfare Systems.