BidaskClub upgraded shares of Raytheon Company (NYSE:RTN) from a buy rating to a strong-buy rating in a research report report published on Wednesday.
Several other brokerages have also recently commented on RTN. Vetr cut shares of Raytheon from a buy rating to a hold rating and set a $170.66 price objective for the company. in a research note on Wednesday, July 5th. Zacks Investment Research cut shares of Raytheon from a buy rating to a hold rating in a research note on Wednesday, June 21st. Royal Bank Of Canada reiterated a buy rating and issued a $181.00 target price on shares of Raytheon in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a buy rating and issued a $172.00 target price on shares of Raytheon in a research note on Monday, June 26th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $168.45.
Shares of Raytheon (RTN) opened at 167.01 on Wednesday. Raytheon has a one year low of $132.89 and a one year high of $167.94. The stock has a market capitalization of $48.61 billion, a PE ratio of 21.52 and a beta of 0.58. The firm’s 50-day moving average is $161.46 and its 200-day moving average is $153.27.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, April 27th. The aerospace company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.61 by $0.12. Raytheon had a net margin of 8.28% and a return on equity of 19.73%. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same period in the previous year, the business posted $1.43 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts expect that Raytheon will post $7.48 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th will be issued a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, June 30th. Raytheon’s dividend payout ratio is currently 41.16%.
In related news, Chairman Thomas A. Kennedy sold 10,703 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $162.05, for a total value of $1,734,421.15. Following the completion of the sale, the chairman now owns 61,671 shares of the company’s stock, valued at $9,993,785.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Wesley D. Kremer sold 1,010 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total transaction of $164,731.00. Following the completion of the sale, the vice president now directly owns 23,136 shares of the company’s stock, valued at approximately $3,773,481.60. The disclosure for this sale can be found here. Insiders sold 15,911 shares of company stock valued at $2,580,752 in the last three months. 0.19% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Crestwood Advisors Group LLC purchased a new stake in shares of Raytheon during the first quarter worth about $110,000. Oakworth Capital Inc. raised its stake in shares of Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock worth $111,000 after buying an additional 445 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Raytheon during the first quarter worth about $111,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Raytheon during the second quarter worth about $113,000. Finally, Jacobi Capital Management LLC raised its stake in shares of Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after buying an additional 553 shares in the last quarter. 74.75% of the stock is owned by hedge funds and other 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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