Wells Fargo & Co Reiterates “Outperform” Rating for Raytheon (RTN)

Wells Fargo & Co reaffirmed their outperform rating on shares of Raytheon (NYSE:RTN) in a research report report published on Tuesday morning, The Fly reports. They currently have a $215.00 target price on the aerospace company’s stock, up from their previous target price of $202.00.

A number of other brokerages have also commented on RTN. Zacks Investment Research lowered shares of Raytheon from a buy rating to a hold rating in a research report on Monday, September 18th. Citigroup reaffirmed a buy rating and set a $215.00 price objective (up previously from $192.00) on shares of Raytheon in a research report on Monday, October 9th. Stifel Nicolaus reaffirmed a buy rating and set a $210.00 price objective on shares of Raytheon in a research report on Tuesday, January 9th. Robert W. Baird reaffirmed a buy rating and set a $212.00 price objective on shares of Raytheon in a research report on Tuesday, October 24th. Finally, JPMorgan Chase & Co. lowered shares of Raytheon from an overweight rating to a neutral rating and upped their price objective for the company from $190.00 to $210.00 in a research report on Tuesday, December 12th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Raytheon presently has a consensus rating of Buy and a consensus price target of $204.12.

Raytheon (NYSE RTN) traded up $1.26 during trading on Tuesday, reaching $196.99. 1,519,893 shares of the company’s stock were exchanged, compared to its average volume of 1,412,280. The firm has a market cap of $56,980.00, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 2.73 and a beta of 0.58. 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 has a 52-week low of $141.28 and a 52-week high of $199.75.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.07. The firm had revenue of $6.28 billion during 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 was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.79 EPS. analysts forecast that Raytheon will post 7.61 earnings per share for the current year.

Raytheon declared that its board has initiated a stock buyback program on Wednesday, November 15th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

The firm 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. This represents a $3.19 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, January 2nd. Raytheon’s dividend payout ratio (DPR) is presently 42.93%.

In related news, Director Stephen J. Hadley sold 800 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $190.27, for a total value of $152,216.00. Following the completion of the transaction, the director now owns 11,360 shares of the company’s stock, valued at $2,161,467.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Frank R. Jimenez sold 175 shares of the stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. Following the completion of the transaction, the vice president now directly owns 28,311 shares of the company’s stock, valued at approximately $5,354,459.43. The disclosure for this sale can be found here. Insiders sold 1,895 shares of company stock valued at $357,215 in the last three months. Company insiders own 0.19% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Signature Estate & Investment Advisors LLC acquired a new position in Raytheon in the third quarter worth about $103,000. Stonehearth Capital Management LLC acquired a new position in Raytheon in the fourth quarter worth about $103,000. Rowland & Co. Investment Counsel ADV bought a new stake in Raytheon during the fourth quarter worth about $106,000. Jacobi Capital Management LLC grew its stake in Raytheon by 5.3% during the second quarter. Jacobi Capital Management LLC now owns 797 shares of the aerospace company’s stock worth $132,000 after buying an additional 40 shares during the last quarter. Finally, Invictus RG bought a new stake in Raytheon during the third quarter worth about $152,000. 73.26% of the stock is owned by hedge funds and other institutional investors.

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About Raytheon

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.

The Fly

Analyst Recommendations for Raytheon (NYSE:RTN)

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