Raytheon Company (RTN) Receives Average Recommendation of “Buy” from Analysts
Shares of Raytheon Company (NYSE:RTN) have been given an average rating of “Buy” by the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $176.07.
RTN has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on shares of Raytheon from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Cowen and Company reiterated a “buy” rating and issued a $170.00 target price on shares of Raytheon in a report on Monday, April 10th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a report on Monday, May 1st. Vetr upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $167.16 target price for the company in a report on Monday, May 22nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $172.00 target price on shares of Raytheon in a report on Tuesday, May 23rd.
In related news, Chairman Thomas A. Kennedy sold 10,703 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chairman now owns 61,671 shares of the company’s stock, valued at $9,993,785.55. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Michael J. Wood sold 1,442 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.98, for a total transaction of $235,017.16. Following the transaction, the chief accounting officer now directly owns 18,470 shares in the company, valued at approximately $3,010,240.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,911 shares of company stock worth $2,580,752. Insiders own 0.19% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Intrust Bank NA raised its position in shares of Raytheon by 1.5% in the second quarter. Intrust Bank NA now owns 6,461 shares of the aerospace company’s stock valued at $1,044,000 after buying an additional 96 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of Raytheon by 6.9% in the second quarter. GHP Investment Advisors Inc. now owns 1,428 shares of the aerospace company’s stock valued at $231,000 after buying an additional 92 shares during the last quarter. Hollow Brook Wealth Management LLC acquired a new position in shares of Raytheon during the second quarter valued at $2,683,000. Usca Ria LLC raised its position in shares of Raytheon by 125.1% in the second quarter. Usca Ria LLC now owns 12,649 shares of the aerospace company’s stock valued at $2,043,000 after buying an additional 7,030 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Raytheon by 6.7% in the second quarter. Parallel Advisors LLC now owns 2,622 shares of the aerospace company’s stock valued at $450,000 after buying an additional 164 shares during the last quarter. 74.98% of the stock is currently owned by hedge funds and other institutional investors.
Raytheon (NYSE RTN) opened at 173.51 on Tuesday. The stock has a 50 day moving average of $165.60 and a 200-day moving average of $157.06. Raytheon has a 52-week low of $132.89 and a 52-week high of $174.19. The firm has a market cap of $50.36 billion, a price-to-earnings ratio of 23.97 and a beta of 0.59.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same period last year, the company posted $2.38 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts expect that Raytheon will post $7.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were given a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Friday, June 30th. Raytheon’s payout ratio is presently 43.94%.
Raytheon Company Profile
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.
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