Raytheon Company (NYSE:RTN) had its price objective increased by Buckingham Research from $199.00 to $204.00 in a report issued on Tuesday, October 31st. The brokerage currently has a buy rating on the aerospace company’s stock.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Raytheon from a buy rating to a hold rating in a report on Monday, October 30th. J P Morgan Chase & Co decreased their price objective on Raytheon from $194.00 to $190.00 and set an overweight rating for the company in a report on Monday, October 30th. Sanford C. Bernstein reiterated an outperform rating and set a $199.00 price objective (up from $188.00) on shares of Raytheon in a report on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Company decreased their price objective on Raytheon from $200.00 to $195.00 and set an outperform rating for the company in a report on Friday, October 27th. Finally, Bank of America Corporation set a $220.00 price target on Raytheon and gave the company a buy rating in a research note on Friday, October 27th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Raytheon has a consensus rating of Buy and an average price target of $199.24.
Raytheon (RTN) opened at $184.31 on Tuesday. Raytheon has a one year low of $137.70 and a one year high of $190.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66. The stock has a market capitalization of $53,426.17, a price-to-earnings ratio of 24.45, a PEG ratio of 2.51 and a beta of 0.57.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating the 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 firm had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the firm posted $1.79 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. analysts forecast that Raytheon will post 7.61 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th were paid a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Wednesday, October 11th. Raytheon’s dividend payout ratio is 42.88%.
In other Raytheon news, VP Frank R. Jimenez sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total transaction of $90,970.00. Following the completion of the sale, the vice president now directly owns 29,292 shares of the company’s stock, valued at approximately $5,329,386.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Taylor W. Lawrence sold 3,791 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $182.09, for a total value of $690,303.19. The disclosure for this sale can be found here. Insiders sold a total of 4,941 shares of company stock worth $902,999 over the last three months. 0.19% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. grew its holdings in shares of Raytheon by 16.0% in the third quarter. Pittenger & Anderson Inc. now owns 34,830 shares of the aerospace company’s stock valued at $6,499,000 after acquiring an additional 4,800 shares in the last quarter. Investment Centers of America Inc. grew its holdings in Raytheon by 26.8% during the third quarter. Investment Centers of America Inc. now owns 2,635 shares of the aerospace company’s stock valued at $492,000 after purchasing an additional 557 shares during the period. Investec Asset Management LTD bought a new position in Raytheon during the third quarter valued at $43,406,000. Investec Asset Management North America Inc. bought a new position in Raytheon during the third quarter valued at $1,559,000. Finally, Zeke Capital Advisors LLC grew its holdings in Raytheon by 49.7% during the third quarter. Zeke Capital Advisors LLC now owns 4,316 shares of the aerospace company’s stock valued at $805,000 after purchasing an additional 1,433 shares during the period. 74.24% of the stock is owned by institutional investors.
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.
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