Raytheon Company (NYSE:RTN) had its price objective raised by stock analysts at Buckingham Research from $190.00 to $199.00 in a research note issued to investors on Friday. The firm currently has a “buy” rating on the aerospace company’s stock. Buckingham Research’s price objective would suggest a potential upside of 12.04% from the company’s current price.
A number of other brokerages have also recently issued reports on RTN. Robert W. Baird reaffirmed an “outperform” rating and issued a $212.00 target price (up from $170.00) on shares of Raytheon in a report on Thursday. Vetr raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $178.87 price target on the stock in a report on Monday, July 17th. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Monday, May 1st. BidaskClub cut shares of Raytheon from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Cowen and Company reissued an “outperform” rating and issued a $189.00 price target (up from $182.00) on shares of Raytheon in a report on Thursday. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Raytheon currently has an average rating of “Buy” and an average price target of $182.49.
Raytheon (NYSE RTN) traded up 1.23% during midday trading on Friday, reaching $179.81. The company had a trading volume of 1,159,586 shares. The firm has a market capitalization of $52.19 billion, a P/E ratio of 24.84 and a beta of 0.59. Raytheon has a one year low of $132.89 and a one year high of $181.05. The stock’s 50 day moving average price is $168.07 and its 200-day moving average price is $158.27. Raytheon also saw some unusual options trading activity on Thursday. Stock investors purchased 14,447 call options on the company. This is an increase of 901% compared to the average volume of 1,443 call options.
Raytheon (NYSE:RTN) last issued its 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. The company had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. Raytheon’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 EPS. On average, equities research analysts anticipate that Raytheon will post $7.59 earnings per share for the current year.
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In other Raytheon news, VP Taylor W. Lawrence sold 2,756 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.04, for a total value of $446,582.24. Following the sale, the vice president now owns 53,285 shares in the company, valued at $8,634,301.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Wesley D. Kremer sold 1,010 shares of the firm’s stock in a transaction that occurred on 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 owns 23,136 shares in the company, valued at approximately $3,773,481.60. The disclosure for this sale can be found here. Insiders sold 15,911 shares of company stock worth $2,580,752 in the last 90 days. Company insiders own 0.19% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Murphy Capital Management Inc. increased its position in Raytheon by 0.6% in the first quarter. Murphy Capital Management Inc. now owns 8,552 shares of the aerospace company’s stock valued at $1,304,000 after buying an additional 50 shares during the last quarter. Bank of Montreal Can increased its position in Raytheon by 30.7% in the first quarter. Bank of Montreal Can now owns 366,069 shares of the aerospace company’s stock valued at $55,826,000 after buying an additional 85,886 shares during the last quarter. Orrstown Financial Services Inc. increased its position in Raytheon by 22.6% in the first quarter. Orrstown Financial Services Inc. now owns 759 shares of the aerospace company’s stock valued at $116,000 after buying an additional 140 shares during the last quarter. Ipswich Investment Management Co. Inc. increased its position in Raytheon by 3.6% in the first quarter. Ipswich Investment Management Co. Inc. now owns 30,589 shares of the aerospace company’s stock valued at $4,665,000 after buying an additional 1,066 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in Raytheon by 7.7% in the first quarter. Capstone Asset Management Co. now owns 72,253 shares of the aerospace company’s stock valued at $11,019,000 after buying an additional 5,179 shares during the last quarter. 74.98% of the stock is owned by hedge funds and other institutional investors.
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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