Raytheon Company (NYSE:RTN) had its target price boosted by Stifel Nicolaus from $185.00 to $195.00 in a research note published on Friday. Stifel Nicolaus currently has a hold rating on the aerospace company’s stock.
Other research analysts have also issued reports about the company. Sanford C. Bernstein reissued an outperform rating and set a $183.00 price target (up from $180.00) on shares of Raytheon in a research report on Sunday, July 30th. Vetr lowered Raytheon from a buy rating to a hold rating and set a $187.08 price target on the stock. in a research report on Tuesday, August 15th. Zacks Investment Research raised Raytheon from a hold rating to a buy rating and set a $205.00 price target on the stock in a research report on Wednesday, September 20th. Cowen and Company reissued an outperform rating and set a $189.00 price target (up from $182.00) on shares of Raytheon in a research report on Thursday, August 10th. Finally, BidaskClub raised Raytheon from a buy rating to a strong-buy rating in a research report on Wednesday, July 12th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $199.51.
Shares of Raytheon (RTN) opened at 180.28 on Friday. The company’s 50-day moving average price is $185.67 and its 200-day moving average price is $170.88. The stock has a market cap of $52.33 billion, a PE ratio of 24.90 and a beta of 0.59. Raytheon has a 52-week low of $132.89 and a 52-week high of $190.25.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. The firm had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. Raytheon’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.79 earnings per share. Analysts expect that Raytheon will post $7.60 earnings per share for the current year.
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The company 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 1.77%. The ex-dividend date of this dividend is Wednesday, October 11th. Raytheon’s payout ratio is currently 42.88%.
In other news, Director Vernon E. Clark sold 829 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was 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 in the company, valued at approximately $1,367,281.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Frank R. Jimenez sold 500 shares of the company’s stock in a transaction dated 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 owns 29,292 shares of the company’s stock, valued at approximately $5,329,386.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,770 shares of company stock valued at $1,052,376. 0.19% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RTN. Assetmark Inc. boosted its stake in shares of Raytheon by 8.0% during the 1st quarter. Assetmark Inc. now owns 1,280 shares of the aerospace company’s stock worth $195,000 after acquiring an additional 95 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Raytheon during the 1st quarter worth about $1,540,000. Legacy Capital Partners Inc. boosted its stake in shares of Raytheon by 7.5% during the 1st quarter. Legacy Capital Partners Inc. now owns 5,354 shares of the aerospace company’s stock worth $817,000 after acquiring an additional 375 shares in the last quarter. Tobam bought a new stake in shares of Raytheon during the 1st quarter worth about $3,408,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Raytheon by 12.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 89,226 shares of the aerospace company’s stock worth $13,607,000 after acquiring an additional 9,878 shares in the last quarter. Institutional investors own 73.80% 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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