Raytheon (RTN) Price Target Raised to $220.00 at Stifel Nicolaus

Raytheon (NYSE:RTN) had its price target upped by research analysts at Stifel Nicolaus from $210.00 to $220.00 in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 5.31% from the stock’s current price.

The analysts wrote, “Results & guidance imply soft landing for memory industry. Analytically, we see reason to be believe memory players will act rationally during a downturn, but our limited discussions indicate otherwise. Reiterating Buy rating and slightly raising 12-month price target to $126, from $124.””

Other research analysts have also recently issued research reports about the company. Jefferies Group reissued a “buy” rating and issued a $190.00 price target on shares of Raytheon in a research note on Friday, September 29th. Deutsche Bank raised Raytheon from a “hold” rating to a “buy” rating and increased their price target for the stock from $180.00 to $210.00 in a research note on Friday, September 29th. Bank of America set a $220.00 price target on Raytheon and gave the stock a “buy” rating in a research note on Friday, October 27th. Cowen reissued a “buy” rating and issued a $203.00 price target on shares of Raytheon in a research note on Thursday, October 26th. Finally, Robert W. Baird reissued a “buy” rating and issued a $212.00 price target on shares of Raytheon in a research note on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $207.48.

Shares of Raytheon (RTN) opened at $208.91 on Friday. Raytheon has a 52-week low of $143.23 and a 52-week high of $209.28. The firm has a market capitalization of $60,390.00, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 2.49 and a beta of 0.58. The company has a quick ratio of 1.55, a current ratio of 1.54 and a debt-to-equity ratio of 0.48.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.01. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the business posted $1.84 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. equities analysts anticipate that Raytheon will post 9.65 EPS for the current fiscal year.

Raytheon declared that its Board of Directors has authorized a stock buyback plan on Wednesday, November 15th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

In related news, Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $190.27, for a total transaction of $152,216.00. Following the completion of the transaction, the director now owns 11,360 shares of the company’s stock, valued at $2,161,467.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Letitia A. Long sold 650 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total value of $120,789.50. Following the transaction, the director now directly owns 2,273 shares of the company’s stock, valued at approximately $422,391.59. The disclosure for this sale can be found here. Insiders have sold 1,895 shares of company stock valued at $357,215 in the last ninety days. Company insiders own 0.19% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. TCI Wealth Advisors Inc. boosted its position in shares of Raytheon by 0.8% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,048 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 17 shares during the period. Omnia Family Wealth LLC boosted its position in shares of Raytheon by 2.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 1,326 shares of the aerospace company’s stock valued at $215,000 after purchasing an additional 30 shares during the period. Courier Capital LLC boosted its position in shares of Raytheon by 1.1% in the 2nd quarter. Courier Capital LLC now owns 2,772 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 30 shares during the period. Linscomb & Williams Inc. boosted its position in shares of Raytheon by 1.8% in the 2nd quarter. Linscomb & Williams Inc. now owns 1,734 shares of the aerospace company’s stock valued at $280,000 after purchasing an additional 30 shares during the period. Finally, Regal Investment Advisors LLC boosted its position in shares of Raytheon by 1.9% in the 2nd quarter. Regal Investment Advisors LLC now owns 1,722 shares of the aerospace company’s stock valued at $278,000 after purchasing an additional 32 shares during the period. 73.26% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This piece was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/01/26/raytheon-rtn-price-target-raised-to-220-00-at-stifel-nicolaus.html.

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)

Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply