Raytheon Company (NYSE:RTN) had its price target raised by investment analysts at Buckingham Research from $199.00 to $204.00 in a research note issued to investors on Tuesday. The firm presently has a “buy” rating on the aerospace company’s stock. Buckingham Research’s target price would indicate a potential upside of 13.21% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research report on Monday. J P Morgan Chase & Co decreased their target price on Raytheon from $194.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $199.00 target price (up previously from $188.00) on shares of Raytheon in a research report on Monday. They noted that the move was a valuation call. Wells Fargo & Company decreased their target price on Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Bank of America Corp set a $220.00 target price on Raytheon and gave the stock a “buy” rating in a research report on Friday. Five 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 an average target price of $199.24.

Shares of Raytheon (NYSE:RTN) traded up 0.35% during midday trading on Tuesday, hitting $180.20. The stock had a trading volume of 1,517,677 shares. The firm has a 50 day moving average price of $185.61 and a 200 day moving average price of $171.36. The stock has a market cap of $52.30 billion, a PE ratio of 24.89 and a beta of 0.59. Raytheon has a one year low of $132.89 and a one year high of $190.25.

Raytheon (NYSE:RTN) last issued its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the prior year, the business earned $1.79 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that Raytheon will post $7.61 earnings per share for the current fiscal year.

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In other Raytheon news, Director Vernon E. Clark sold 829 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $180.19, for a total transaction of $149,377.51. Following the sale, the director now owns 7,588 shares in the company, valued at $1,367,281.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $181.94, for a total value of $90,970.00. Following the sale, the vice president now owns 29,292 shares in the company, valued at approximately $5,329,386.48. The disclosure for this sale can be found here. Insiders have sold 5,770 shares of company stock worth $1,052,376 in the last 90 days. 0.19% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. St. Johns Investment Management Company LLC acquired a new stake in Raytheon during the second quarter valued at approximately $113,000. Jacobi Capital Management LLC raised its stake in Raytheon by 271.1% during the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after buying an additional 553 shares in the last quarter. Tarbox Family Office Inc. raised its stake in Raytheon by 1,666.7% during the second quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after buying an additional 750 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in Raytheon during the second quarter valued at approximately $139,000. Finally, CWM LLC raised its stake in Raytheon by 7.4% during the second quarter. CWM LLC now owns 916 shares of the aerospace company’s stock valued at $148,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 73.80% 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.

Analyst Recommendations for Raytheon (NYSE:RTN)

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