Raytheon Company (NYSE:RTN)‘s stock had its “buy” rating restated by investment analysts at Argus in a research report issued on Friday. They presently have a $195.00 price target on the aerospace company’s stock, up from their prior price target of $175.00. Argus’ price target suggests a potential upside of 12.15% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Bank of America Corporation reaffirmed a “buy” rating and set a $200.00 price target (up previously from $185.00) on shares of Raytheon in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 price target (up previously from $175.00) on shares of Raytheon in a research note on Sunday, July 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $183.00 price target (up previously from $180.00) on shares of Raytheon in a research note on Sunday, July 30th. Finally, Vetr raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $178.87 price target on the stock in a research note on Monday, July 17th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $176.56.

Raytheon (NYSE:RTN) traded down 0.16% during trading on Friday, hitting $173.87. 1,434,988 shares of the company traded hands. The company’s 50 day moving average is $165.60 and its 200-day moving average is $157.06. The stock has a market capitalization of $50.47 billion, a PE ratio of 24.02 and a beta of 0.59. Raytheon has a 52 week low of $132.89 and a 52 week high of $174.60.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. Raytheon’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.38 earnings per share. Analysts predict that Raytheon will post $7.58 earnings per share for the current year.

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In other Raytheon news, VP Wesley D. Kremer sold 1,010 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total transaction of $164,731.00. Following the completion of the sale, the vice president now directly owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Thomas A. Kennedy sold 10,703 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $162.05, for a total transaction of $1,734,421.15. Following the sale, the chairman now directly owns 61,671 shares of the company’s stock, valued at $9,993,785.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,911 shares of company stock valued at $2,580,752. Insiders own 0.19% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after buying an additional 989,986 shares during the last quarter. BlackRock Inc. raised its stake in Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after buying an additional 18,551,353 shares during the last quarter. State Street Corp raised its stake in Raytheon by 2.6% in the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock valued at $1,919,348,000 after buying an additional 313,435 shares during the last quarter. Morgan Stanley raised its stake in Raytheon by 7.2% in the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock valued at $684,945,000 after buying an additional 302,274 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Raytheon by 0.7% in the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock valued at $537,996,000 after buying an additional 23,172 shares during the last quarter. 74.83% of the stock is owned by institutional investors and hedge funds.

About Raytheon

Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.

Analyst Recommendations for Raytheon (NYSE:RTN)

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