Jefferies Group LLC reaffirmed their buy rating on shares of Raytheon Company (NYSE:RTN) in a research note issued to investors on Friday morning. They currently have a $190.00 price objective on the aerospace company’s stock.
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Raytheon from a hold rating to a buy rating and set a $204.00 price objective on the stock in a research note on Thursday, September 14th. Vetr cut shares of Raytheon from a buy rating to a hold rating and set a $187.08 price objective on the stock. in a research note on Tuesday, August 15th. BidaskClub raised shares of Raytheon from a buy rating to a strong-buy rating in a research note on Wednesday, July 12th. Deutsche Bank AG raised shares of Raytheon from a hold rating to a buy rating and upped their price objective for the stock from $180.00 to $210.00 in a research note on Friday. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $185.00 price objective (up from $175.00) on shares of Raytheon in a research note on Sunday, July 30th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Raytheon presently has a consensus rating of Buy and an average price target of $190.67.
Raytheon (NYSE:RTN) traded up 1.39% during trading on Friday, reaching $186.58. The company had a trading volume of 1,713,513 shares. Raytheon has a 12-month low of $132.89 and a 12-month high of $186.70. The firm has a 50-day moving average price of $179.06 and a 200 day moving average price of $164.34. The stock has a market cap of $54.15 billion, a P/E ratio of 25.77 and a beta of 0.58.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion during 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 firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.38 earnings per share. Equities research analysts predict that Raytheon will post $7.59 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be issued a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, October 11th. Raytheon’s dividend payout ratio is 43.94%.
In other news, VP Frank R. Jimenez sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total value of $90,970.00. Following the transaction, the vice president now owns 29,292 shares in the company, valued at $5,329,386.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert E. Beauchamp bought 1,162 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was purchased at an average price of $171.99 per share, for a total transaction of $199,852.38. Following the acquisition, the director now directly owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The disclosure for this purchase can be found here. Insiders sold 5,120 shares of company stock worth $930,651 in the last 90 days. Company insiders own 0.19% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Raytheon by 1.7% in 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 in the last quarter. BlackRock Inc. boosted its holdings in Raytheon by 2.7% in 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 in the last quarter. State Street Corp boosted its holdings in Raytheon by 2.6% in 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 in the last quarter. Morgan Stanley boosted its holdings in Raytheon by 7.2% in the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock valued at $684,945,000 after acquiring an additional 302,274 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Raytheon by 0.7% in the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock valued at $537,996,000 after acquiring an additional 23,172 shares in the last quarter. Institutional investors and hedge funds 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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