Raytheon (NYSE:RTN) had its price target boosted by Morgan Stanley from $224.00 to $245.00 in a research note released on Friday. Morgan Stanley currently has an overweight rating on the aerospace company’s stock.
Several other analysts have also commented on RTN. Cowen reaffirmed a buy rating and issued a $215.00 price objective on shares of Raytheon in a research report on Friday, February 9th. Wells Fargo & Co reaffirmed an outperform rating and issued a $202.00 price objective (up previously from $195.00) on shares of Raytheon in a research report on Tuesday, November 28th. Sanford C. Bernstein lifted their price objective on shares of Raytheon from $231.00 to $255.00 and gave the stock an outperform rating in a research report on Monday, January 29th. Royal Bank of Canada set a $235.00 price objective on shares of Raytheon and gave the stock a buy rating in a research report on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Raytheon from $194.00 to $190.00 and set an overweight rating on the stock in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Raytheon presently has an average rating of Buy and an average target price of $214.12.
Raytheon (RTN) opened at $219.86 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48. Raytheon has a 12-month low of $148.65 and a 12-month high of $220.90. The firm has a market cap of $63,430.00, a PE ratio of 31.68, a P/E/G ratio of 2.07 and a beta of 0.76.
Raytheon declared that its board has authorized a stock repurchase 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. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, Chairman Thomas A. Kennedy sold 44,778 shares of Raytheon stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $215.90, for a total value of $9,667,570.20. Following the completion of the transaction, the chairman now owns 138,339 shares in the company, valued at $29,867,390.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Frank R. Jimenez sold 175 shares of Raytheon stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. The disclosure for this sale can be found here. Insiders sold 69,792 shares of company stock valued at $14,973,517 in the last quarter. Corporate insiders own 0.19% of the company’s stock.
Large investors have recently modified their holdings of the stock. Signature Estate & Investment Advisors LLC purchased a new position in Raytheon during the third quarter valued at approximately $103,000. Stonehearth Capital Management LLC purchased a new position in Raytheon during the fourth quarter valued at approximately $103,000. Rowland & Co. Investment Counsel ADV purchased a new position in Raytheon during the fourth quarter valued at approximately $106,000. Global Trust Asset Management LLC purchased a new position in Raytheon during the fourth quarter valued at approximately $136,000. Finally, Invictus RG purchased a new position in Raytheon during the third quarter valued at approximately $152,000. 71.98% of the stock is owned by institutional investors.
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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.
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