Robert W. Baird initiated coverage on shares of Raytheon Co. (NYSE:RTN) in a research note published on Thursday morning. The brokerage issued an outperform rating and a $170.00 price objective on the stock.
Several other analysts have also recently weighed in on RTN. Jefferies Group raised their target price on shares of Raytheon from $145.00 to $158.00 and gave the company a buy rating in a report on Friday, July 29th. Credit Suisse Group AG reaffirmed a buy rating and issued a $151.00 target price on shares of Raytheon in a report on Friday, July 29th. Zacks Investment Research raised shares of Raytheon from a hold rating to a buy rating and set a $151.00 target price on the stock in a report on Monday, July 4th. JPMorgan Chase & Co. set a $145.00 target price on shares of Raytheon and gave the company a buy rating in a report on Friday, July 29th. Finally, Argus reaffirmed a buy rating and issued a $161.00 target price on shares of Raytheon in a report on Wednesday, August 3rd. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $174.67.
Raytheon (NYSE:RTN) traded down 1.05% during mid-day trading on Thursday, hitting $136.80. 743,243 shares of the stock traded hands. The company has a 50 day moving average of $139.10 and a 200-day moving average of $134.09. The stock has a market cap of $40.37 billion, a PE ratio of 19.12 and a beta of 0.64. Raytheon has a 12-month low of $109.10 and a 12-month high of $143.39.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 28th. The company reported $2.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.64. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Raytheon had a net margin of 9.02% and a return on equity of 19.26%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 earnings per share. Equities research analysts forecast that Raytheon will post $7.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Wednesday, October 5th will be issued a $0.7325 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $2.93 dividend on an annualized basis and a dividend yield of 2.12%. Raytheon’s dividend payout ratio (DPR) is 40.86%.
In other news, Director Vernon E. Clark sold 2,540 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $141.01, for a total value of $358,165.40. Following the sale, the director now directly owns 7,246 shares in the company, valued at $1,021,758.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of RTN. Monetary Management Group Inc. raised its stake in Raytheon by 840.0% in the first quarter. Monetary Management Group Inc. now owns 940 shares of the company’s stock valued at $115,000 after buying an additional 840 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Raytheon by 5.6% in the second quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $131,000 after buying an additional 54 shares during the last quarter. Pinkerton Retirement Specialists LLC bought a new stake in Raytheon during the second quarter valued at about $135,000. Integrated Investment Consultants LLC raised its stake in Raytheon by 11.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,135 shares of the company’s stock valued at $154,000 after buying an additional 117 shares during the last quarter. Finally, Foundry Partners LLC bought a new stake in Raytheon during the second quarter valued at about $201,000. Institutional investors own 77.90% of the company’s stock.
Raytheon Company Profile
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
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