Raytheon Company (RTN) Rating Lowered to Buy at BidaskClub
Raytheon Company (NYSE:RTN) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Saturday.
RTN has been the subject of a number of other reports. Buckingham Research lifted their price objective on Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price objective for the company. in a research note on Tuesday, May 9th. Jefferies Group LLC reaffirmed a “buy” rating and set a $172.00 price objective on shares of Raytheon in a research note on Monday, June 26th. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research note on Monday, May 1st. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $212.00 price objective (up from $170.00) on shares of Raytheon in a research note on Thursday, August 10th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Raytheon currently has a consensus rating of “Buy” and a consensus price target of $183.01.
Shares of Raytheon (NYSE RTN) traded down 0.20% during midday trading on Friday, hitting $176.90. The stock had a trading volume of 1,096,760 shares. The firm’s 50-day moving average price is $170.94 and its 200-day moving average price is $159.65. Raytheon has a one year low of $132.89 and a one year high of $181.05. The firm has a market capitalization of $51.34 billion, a PE ratio of 24.43 and a beta of 0.59.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The business had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts predict that Raytheon will post $7.59 EPS for the current year.
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In other news, Director Vernon E. Clark sold 829 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $180.19, for a total value of $149,377.51. Following the sale, the director now directly owns 7,588 shares in the company, valued at $1,367,281.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michael J. Wood sold 1,442 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $162.98, for a total value of $235,017.16. Following the completion of the sale, the chief accounting officer now owns 18,470 shares in the company, valued at $3,010,240.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,740 shares of company stock worth $2,730,129. Corporate insiders own 0.19% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. St. Johns Investment Management Company LLC purchased a new stake in shares of Raytheon during the second quarter worth approximately $113,000. Crestwood Advisors Group LLC purchased a new stake in shares of Raytheon during the first quarter worth approximately $110,000. Oakworth Capital Inc. raised its stake in shares of Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock worth $111,000 after buying an additional 445 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Raytheon during the first quarter worth approximately $111,000. Finally, Jacobi Capital Management LLC raised its stake in shares of Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after buying an additional 553 shares during the period. Institutional investors own 74.72% of the company’s stock.
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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