Raytheon (RTN) Given Consensus Rating of “Buy” by Analysts

Shares of Raytheon (NYSE:RTN) have earned an average rating of “Buy” from the nineteen brokerages that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $201.57.

RTN has been the topic of several analyst reports. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 target price on the stock in a report on Thursday, September 14th. Deutsche Bank raised shares of Raytheon from a “hold” rating to a “buy” rating and upped their target price for the stock from $180.00 to $210.00 in a report on Friday, September 29th. Jefferies Group reaffirmed a “buy” rating and issued a $190.00 target price on shares of Raytheon in a report on Friday, September 29th. Finally, Citigroup reaffirmed a “buy” rating and issued a $215.00 target price (up previously from $192.00) on shares of Raytheon in a report on Monday, October 9th.

In other Raytheon news, VP Frank R. Jimenez sold 175 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $189.13, for a total transaction of $33,097.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total transaction of $152,216.00. Following the sale, the director now owns 11,360 shares in the company, valued at $2,161,467.20. The disclosure for this sale can be found here. Insiders sold a total of 1,895 shares of company stock worth $357,215 over the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of RTN. Janus Henderson Group PLC grew its stake in shares of Raytheon by 13,784.9% during the 2nd quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock worth $241,276,000 after acquiring an additional 1,483,389 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Raytheon by 55.2% in the second quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock valued at $376,037,000 after buying an additional 827,931 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Raytheon by 42.7% in the second quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock valued at $294,889,000 after buying an additional 546,398 shares in the last quarter. BlackRock Inc. grew its stake in shares of Raytheon by 2.7% in the second quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock valued at $3,219,097,000 after buying an additional 527,139 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Raytheon by 2,385.7% in the third quarter. Stifel Financial Corp now owns 488,766 shares of the aerospace company’s stock valued at $90,995,000 after buying an additional 469,103 shares in the last quarter. 73.12% of the stock is owned by institutional investors.

Shares of Raytheon (NYSE:RTN) opened at $190.09 on Friday. The stock has a market cap of $54,950.00, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 2.34 and a beta of 0.58. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. Raytheon has a fifty-two week low of $141.28 and a fifty-two week high of $192.41.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 net margin of 8.77% and a return on equity of 20.98%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 EPS. equities research analysts forecast that Raytheon will post 7.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd will be given 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 1.68%. Raytheon’s dividend payout ratio is 42.93%.

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

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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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