Raytheon (RTN) Receives Buy Rating from Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Raytheon (NYSE:RTN) in a research note published on Tuesday morning. Stifel Nicolaus currently has a $210.00 price target on the aerospace company’s stock.

RTN has been the subject of a number of other reports. Zacks Investment Research raised Raytheon from a hold rating to a buy rating and set a $204.00 price objective for the company in a report on Thursday, September 14th. Sanford C. Bernstein reissued an outperform rating and set a $199.00 price objective (up from $188.00) on shares of Raytheon in a report on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Co cut their price objective on Raytheon from $200.00 to $195.00 and set an outperform rating for the company in a report on Friday, October 27th. Buckingham Research lifted their price objective on Raytheon from $199.00 to $204.00 and gave the company a buy rating in a report on Tuesday, October 31st. Finally, Deutsche Bank raised Raytheon from a hold rating to a buy rating and lifted their price objective for the company from $180.00 to $210.00 in a report on Friday, September 29th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $203.36.

Shares of Raytheon (NYSE:RTN) traded up $4.11 during midday trading on Tuesday, hitting $197.46. The company’s stock had a trading volume of 1,491,558 shares, compared to its average volume of 1,383,311. The company has a market capitalization of $57,080.00, a PE ratio of 26.58, a PEG ratio of 2.39 and a beta of 0.58. Raytheon has a 12 month low of $141.28 and a 12 month high of $198.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66.

Raytheon (NYSE:RTN) last issued its quarterly earnings data 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. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $1.79 earnings per share. equities analysts forecast that Raytheon will post 7.61 EPS for the current year.

Raytheon announced that its Board of Directors has authorized a share buyback plan on Wednesday, November 15th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be paid a $0.7975 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.62%. Raytheon’s dividend payout ratio (DPR) is presently 42.93%.

In other news, Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total value of $152,216.00. Following the completion of the sale, the director now directly owns 11,360 shares in the company, valued at $2,161,467.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Letitia A. Long sold 650 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total value of $120,789.50. Following the completion of the sale, the director now owns 2,273 shares of the company’s stock, valued at $422,391.59. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,895 shares of company stock valued at $357,215. 0.19% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. OxFORD Asset Management LLP increased its position in Raytheon by 238.8% in the second quarter. OxFORD Asset Management LLP now owns 51,452 shares of the aerospace company’s stock worth $8,308,000 after purchasing an additional 36,265 shares during the period. Fishman Jay A Ltd. MI increased its position in Raytheon by 31.5% in the second quarter. Fishman Jay A Ltd. MI now owns 94,392 shares of the aerospace company’s stock worth $15,242,000 after purchasing an additional 22,610 shares during the period. Summit Securities Group LLC increased its position in Raytheon by 275.2% in the second quarter. Summit Securities Group LLC now owns 5,861 shares of the aerospace company’s stock worth $946,000 after purchasing an additional 4,299 shares during the period. Investment Centers of America Inc. increased its position in Raytheon by 26.8% in the third quarter. Investment Centers of America Inc. now owns 2,635 shares of the aerospace company’s stock worth $492,000 after purchasing an additional 557 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Raytheon by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 798,986 shares of the aerospace company’s stock worth $129,017,000 after purchasing an additional 2,849 shares during the period. Institutional investors own 73.12% of the company’s stock.

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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.

Analyst Recommendations for Raytheon (NYSE:RTN)

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