Raytheon Company (RTN) Receives Average Rating of “Buy” from Analysts
Raytheon Company (NYSE:RTN) has received a consensus recommendation of “Buy” from the nineteen brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $193.34.
A number of brokerages recently weighed in on RTN. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price objective for the company in a research report on Thursday, September 14th. Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a research report on Tuesday, August 15th. BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Deutsche Bank AG raised shares of Raytheon from a “hold” rating to a “buy” rating and boosted their price objective for the company from $180.00 to $210.00 in a research report on Friday, September 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 price objective (up previously from $175.00) on shares of Raytheon in a research report on Sunday, July 30th.
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Shares of Raytheon (NYSE RTN) opened at 188.90 on Friday. Raytheon has a 52 week low of $132.89 and a 52 week high of $189.64. The firm has a market cap of $54.83 billion, a P/E ratio of 26.09 and a beta of 0.59. The stock’s 50 day moving average is $185.16 and its 200 day moving average is $169.64.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. During the same quarter in the prior year, the firm earned $2.38 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that Raytheon will post $7.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be paid a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, October 11th. Raytheon’s dividend payout ratio is currently 43.94%.
In other news, VP Taylor W. Lawrence sold 3,791 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total value of $690,303.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Frank R. Jimenez sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total transaction of $90,970.00. Following the completion of the sale, the vice president now directly owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,770 shares of company stock valued at $1,052,376. Company insiders own 0.19% of the company’s stock.
Several large investors have recently modified their holdings of RTN. St. Johns Investment Management Company LLC acquired a new stake in shares of Raytheon in the 2nd quarter worth approximately $113,000. Jacobi Capital Management LLC lifted its stake in shares of Raytheon by 271.1% in the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after acquiring an additional 553 shares during the period. Tarbox Family Office Inc. lifted its stake in shares of Raytheon by 1,666.7% in the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock worth $128,000 after acquiring an additional 750 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of Raytheon in the 2nd quarter worth approximately $139,000. Finally, CWM LLC lifted its stake in shares of Raytheon by 7.4% in the 2nd quarter. CWM LLC now owns 916 shares of the aerospace company’s stock worth $148,000 after acquiring an additional 63 shares during the period. 73.62% of the stock is owned by institutional investors.
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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