Raytheon (NYSE:RTN) had its price objective lifted by stock analysts at Sanford C. Bernstein from $231.00 to $255.00 in a report issued on Monday. The brokerage currently has an “outperform” rating on the aerospace company’s stock. Sanford C. Bernstein’s target price would suggest a potential upside of 20.73% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. Bank of America set a $220.00 target price on Raytheon and gave the company a “buy” rating in a research note on Friday, October 27th. Royal Bank of Canada set a $225.00 target price on Raytheon and gave the company a “buy” rating in a research note on Thursday, November 16th. Buckingham Research upped their target price on Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Cowen reaffirmed a “buy” rating and issued a $203.00 target price on shares of Raytheon in a research note on Thursday, October 26th. Finally, Robert W. Baird reissued a “buy” rating and set 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 stock. The stock has a consensus rating of “Buy” and an average target price of $210.77.
Raytheon (NYSE:RTN) traded up $2.38 during mid-day trading on Monday, reaching $211.22. The company had a trading volume of 1,790,000 shares, compared to its average volume of 1,380,000. Raytheon has a 12-month low of $143.23 and a 12-month high of $212.69. The company has a current ratio of 1.54, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48. The stock has a market cap of $61,060.00, a price-to-earnings ratio of 30.44, a P/E/G ratio of 2.67 and a beta of 0.58.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the prior year, the company earned $1.84 EPS. Raytheon’s revenue was up 8.0% on a year-over-year basis. analysts anticipate that Raytheon will post 9.27 EPS for the current year.
Raytheon declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 15th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
In other Raytheon news, Director Stephen J. Hadley sold 800 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total transaction of $152,216.00. Following the transaction, the director now owns 11,360 shares of the company’s stock, valued at approximately $2,161,467.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Letitia A. Long sold 650 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $185.83, for a total value of $120,789.50. Following the completion of the transaction, the director now directly owns 2,273 shares in the company, valued at $422,391.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,895 shares of company stock worth $357,215. Corporate insiders own 0.19% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Signature Estate & Investment Advisors LLC purchased a new position in shares of Raytheon in the 3rd quarter worth $103,000. Stonehearth Capital Management LLC purchased a new position in shares of Raytheon in the 4th quarter worth $103,000. Rowland & Co. Investment Counsel ADV purchased a new position in shares of Raytheon in the 4th quarter worth $106,000. Jacobi Capital Management LLC raised its position in shares of Raytheon by 5.3% in the 2nd quarter. Jacobi Capital Management LLC now owns 797 shares of the aerospace company’s stock worth $132,000 after buying an additional 40 shares during the period. Finally, Invictus RG purchased a new position in shares of Raytheon in the 3rd quarter worth $152,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.
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.