Raytheon Company (NYSE:RTN) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Monday, September 11th.
RTN has been the topic of a number of other reports. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price on the stock. in a research report on Tuesday, August 15th. BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 target price (up from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. Argus reaffirmed a “buy” rating and set a $195.00 target price (up from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Finally, Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $183.00 target price on the stock in a research report on Tuesday, May 30th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $186.14.
Shares of Raytheon (NYSE:RTN) opened at 185.04 on Monday. The firm’s 50-day moving average price is $179.06 and its 200 day moving average price is $164.34. The company has a market capitalization of $53.71 billion, a PE ratio of 25.56 and a beta of 0.58. Raytheon has a 52-week low of $132.89 and a 52-week high of $185.23.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $2.38 earnings per share. On average, equities analysts forecast that Raytheon will post $7.59 earnings per share for the current year.
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In other news, Director Robert E. Beauchamp bought 1,162 shares of the stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the completion of the purchase, the director now directly owns 4,303 shares in the company, valued at $740,072.97. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vernon E. Clark sold 829 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the sale, the director now owns 7,588 shares of the company’s stock, valued at $1,367,281.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,120 shares of company stock valued at $930,651. 0.19% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Raytheon by 1.7% during the second quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock worth $3,597,519,000 after buying an additional 367,898 shares during the period. BlackRock Inc. lifted its stake in shares of Raytheon by 2.7% during the second quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock worth $3,219,097,000 after buying an additional 527,139 shares during the period. State Street Corp lifted its stake in shares of Raytheon by 2.6% during the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock worth $1,919,348,000 after buying an additional 313,435 shares during the period. Morgan Stanley lifted its stake in shares of Raytheon by 7.2% during the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock worth $684,945,000 after buying an additional 302,274 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in shares of Raytheon by 0.7% during the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock worth $537,996,000 after buying an additional 23,172 shares during the period. Institutional investors own 73.75% of the company’s stock.
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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