Royal Bank Of Canada reaffirmed their buy rating on shares of Raytheon Company (NYSE:RTN) in a research note issued to investors on Tuesday morning. They currently have a $209.00 price objective on the aerospace company’s stock.
RTN has been the subject of several other research reports. Zacks Investment Research upgraded shares of Raytheon from a hold rating to a buy rating and set a $204.00 target price for the company 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 target price for the company. in a research note on Tuesday, August 15th. BidaskClub upgraded shares of Raytheon from a buy rating to a strong-buy rating in a research note on Wednesday, July 12th. Deutsche Bank AG upgraded shares of Raytheon from a hold rating to a buy rating and increased their target price for the company from $180.00 to $210.00 in a research note on Friday, September 29th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $185.00 target price (up previously from $175.00) on shares of Raytheon in a research note on Sunday, July 30th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $193.19.
Shares of Raytheon (NYSE RTN) opened at 187.69 on Tuesday. The company has a 50-day moving average price of $183.26 and a 200 day moving average price of $167.81. The company has a market capitalization of $54.48 billion, a price-to-earnings ratio of 25.92 and a beta of 0.59. Raytheon has a one year low of $132.89 and a one year high of $188.62.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same period in the prior year, the company earned $2.38 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts forecast that Raytheon will post $7.59 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be given a $0.7975 dividend. This represents a $3.19 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, October 11th. Raytheon’s dividend payout ratio (DPR) is presently 43.94%.
In other Raytheon news, Director Robert E. Beauchamp purchased 1,162 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average price of $171.99 per share, with a total value of $199,852.38. Following the completion of the transaction, the director now directly owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Frank R. Jimenez sold 650 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $187.27, for a total transaction of $121,725.50. The disclosure for this sale can be found here. Insiders sold 5,770 shares of company stock valued at $1,052,376 in the last three months. Company insiders own 0.19% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. First National Bank of Mount Dora Trust Investment Services raised its position in Raytheon by 44.8% in the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 17,195 shares of the aerospace company’s stock worth $3,208,000 after purchasing an additional 5,320 shares in the last quarter. Centre Asset Management LLC raised its position in Raytheon by 8.2% in the third quarter. Centre Asset Management LLC now owns 46,650 shares of the aerospace company’s stock worth $8,704,000 after purchasing an additional 3,550 shares in the last quarter. Intl Fcstone Inc. acquired a new position in Raytheon in the second quarter worth about $310,000. M Holdings Securities Inc. acquired a new position in Raytheon in the second quarter worth about $297,000. Finally, Lord Abbett & CO. LLC raised its position in Raytheon by 1.5% in the second quarter. Lord Abbett & CO. LLC now owns 525,000 shares of the aerospace company’s stock worth $84,777,000 after purchasing an additional 7,600 shares in the last quarter. 73.74% 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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