Raytheon Company (RTN) Price Target Raised to $195.00
Raytheon Company (NYSE:RTN) had its price objective lifted by Stifel Nicolaus from $185.00 to $195.00 in a research report report published on Friday morning. Stifel Nicolaus currently has a hold rating on the aerospace company’s stock.
Several other equities research analysts have also issued reports on RTN. Buckingham Research upped their price target on Raytheon from $190.00 to $199.00 and gave the company a buy rating in a research report on Friday, August 11th. Argus reissued a buy rating and set a $195.00 price target (up from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Bank of America Corporation reissued a buy rating and set a $200.00 price target (up from $185.00) on shares of Raytheon in a research report on Tuesday, August 1st. BidaskClub lowered Raytheon from a strong-buy rating to a buy rating in a research report on Monday, July 31st. Finally, Vetr raised Raytheon from a hold rating to a buy rating and set a $178.87 price target on the stock in a research report on Monday, July 17th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $198.95.
Shares of Raytheon (NYSE RTN) traded up 0.56% during trading on Friday, hitting $180.58. 177,548 shares of the stock were exchanged. Raytheon has a one year low of $132.89 and a one year high of $190.25. The stock’s 50 day moving average price is $185.61 and its 200 day moving average price is $171.36. The stock has a market cap of $52.41 billion, a PE ratio of 24.94 and a beta of 0.59.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same period in the prior year, the company posted $1.79 EPS. Raytheon’s quarterly revenue was up 4.5% on a year-over-year basis. Equities research analysts predict that Raytheon will post $7.60 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be given a $0.7975 dividend. This represents a $3.19 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, October 11th. Raytheon’s dividend payout ratio is presently 42.88%.
In other Raytheon news, VP Frank R. Jimenez sold 500 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total value of $90,970.00. Following the sale, the vice president now directly owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vernon E. Clark sold 829 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $180.19, for a total value of $149,377.51. Following the completion of the sale, the director now directly owns 7,588 shares in the company, valued at $1,367,281.72. The disclosure for this sale can be found here. Insiders sold 5,770 shares of company stock worth $1,052,376 over the last ninety days. 0.19% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in RTN. BlackRock Inc. grew its stake in shares of Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after purchasing an additional 18,551,353 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Raytheon by 13,784.9% in the second quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock worth $241,276,000 after purchasing an additional 1,483,389 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock worth $3,341,355,000 after purchasing an additional 989,986 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Raytheon by 55.2% in the second quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock worth $376,037,000 after purchasing an additional 827,931 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Raytheon by 42.7% in the second quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock worth $294,889,000 after purchasing an additional 546,398 shares in the last quarter. 73.80% 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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