Raytheon’s (RTN) Buy Rating Reiterated at Cowen

Raytheon (NYSE:RTN)‘s stock had its “buy” rating restated by analysts at Cowen in a report issued on Friday. They presently have a $215.00 target price on the aerospace company’s stock. Cowen’s price target would suggest a potential upside of 5.12% from the company’s current price.

A number of other brokerages have also recently commented on RTN. Sanford C. Bernstein lifted their price target on Raytheon from $231.00 to $255.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Robert W. Baird reaffirmed a “buy” rating and issued a $237.00 price target on shares of Raytheon in a research note on Friday, January 26th. Stifel Nicolaus lifted their price target on Raytheon from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Royal Bank of Canada set a $235.00 price target on Raytheon and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $215.00 price target (up from $202.00) on shares of Raytheon in a research note on Tuesday, January 16th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $210.77.

Shares of Raytheon (NYSE RTN) traded up $5.78 during midday trading on Friday, hitting $204.52. The company had a trading volume of 3,381,621 shares, compared to its average volume of 1,750,000. The stock has a market cap of $60,840.00, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76. The company has a current ratio of 1.54, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48. Raytheon has a 52 week low of $148.65 and a 52 week high of $213.45.

Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.01. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. Raytheon’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $1.84 EPS. sell-side analysts anticipate that Raytheon will post 9.65 earnings per share for the current fiscal year.

Raytheon announced that its Board of Directors has authorized a share buyback program on Wednesday, November 15th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

In related news, VP Frank R. Jimenez sold 3,405 shares of Raytheon stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $210.93, for a total transaction of $718,216.65. Following the sale, the vice president now directly owns 25,342 shares in the company, valued at $5,345,388.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Frank R. Jimenez sold 175 shares of Raytheon stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $189.13, for a total value of $33,097.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,274 shares of company stock worth $1,486,162. Corporate insiders own 0.19% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RTN. Signature Estate & Investment Advisors LLC bought a new stake in Raytheon in the third quarter worth $103,000. Stonehearth Capital Management LLC bought a new stake in Raytheon in the fourth quarter worth $103,000. Rowland & Co. Investment Counsel ADV bought a new stake in Raytheon in the fourth quarter worth $106,000. Global Trust Asset Management LLC bought a new stake in Raytheon in the fourth quarter worth $136,000. Finally, Invictus RG bought a new stake in Raytheon in the third quarter worth $152,000. Institutional investors own 73.29% of the company’s stock.

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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)

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