Raytheon (NYSE:RTN) has been assigned a $235.00 price target by stock analysts at Royal Bank of Canada in a report released on Tuesday. The brokerage presently has a “buy” rating on the aerospace company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 18.72% from the stock’s current price.
A number of other analysts have also issued reports on RTN. Wells Fargo & Co restated an “outperform” rating and issued a $215.00 target price (up previously from $202.00) on shares of Raytheon in a report on Tuesday, January 16th. Jefferies Group restated a “buy” rating and issued a $190.00 target price on shares of Raytheon in a report on Friday, September 29th. Stifel Nicolaus restated a “buy” rating and issued a $210.00 target price on shares of Raytheon in a report on Tuesday, January 9th. ValuEngine lowered Raytheon from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $217.00 target price for the company in a report on Friday, January 12th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $204.71.
Raytheon (RTN) traded up $1.71 on Tuesday, hitting $197.94. The stock had a trading volume of 244,938 shares, compared to its average volume of 1,220,000. The stock has a market capitalization of $57,220.00, a price-to-earnings ratio of 26.64, a P/E/G ratio of 2.67 and a beta of 0.58. Raytheon has a one year low of $141.28 and a one year high of $199.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55.
Raytheon declared that its board has authorized a share buyback program on Wednesday, November 15th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
In other news, VP Frank R. Jimenez sold 175 shares of the company’s stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $189.13, for a total value of $33,097.75. Following the transaction, the vice president now directly owns 28,311 shares of the company’s stock, valued at $5,354,459.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen J. Hadley sold 800 shares of the company’s 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 completion of the transaction, the director now directly owns 11,360 shares in the company, valued at $2,161,467.20. The disclosure for this sale can be found here. Insiders sold 1,895 shares of company stock worth $357,215 over the last ninety days. 0.19% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of RTN. Vanguard Group Inc. boosted its holdings in Raytheon by 1.7% during the second quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock valued at $3,597,519,000 after acquiring an additional 367,898 shares during the period. BlackRock Inc. boosted its holdings in Raytheon by 2.7% during the second quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock valued at $3,219,097,000 after acquiring an additional 527,139 shares during the period. State Street Corp boosted its holdings in Raytheon by 2.6% during the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock valued at $1,919,348,000 after acquiring an additional 313,435 shares during the period. BlackRock Institutional Trust Company N.A. boosted its holdings in Raytheon by 8.4% during the third quarter. BlackRock Institutional Trust Company N.A. now owns 9,101,896 shares of the aerospace company’s stock valued at $1,239,041,000 after acquiring an additional 704,383 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Raytheon by 1.1% during the first quarter. Franklin Resources Inc. now owns 8,475,645 shares of the aerospace company’s stock valued at $1,039,368,000 after acquiring an additional 95,453 shares during the period. 73.26% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: “Raytheon (RTN) Given a $235.00 Price Target at Royal Bank of Canada” was posted by American Market News and is the sole property of of American Market News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2018/01/24/raytheon-rtn-given-a-235-00-price-target-at-royal-bank-of-canada.html.
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.
