Shares of Raytheon (NYSE:RTN) have been given a consensus recommendation of “Buy” by the nineteen analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $214.12.
Several analysts have recently weighed in on RTN shares. Royal Bank of Canada set a $225.00 price target on shares of Raytheon and gave the company a “buy” rating in a research note on Thursday, November 16th. Buckingham Research increased their price target on shares of Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. cut shares of Raytheon from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $190.00 to $210.00 in a research report on Tuesday, December 12th. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $215.00 price objective (up previously from $202.00) on shares of Raytheon in a research report on Tuesday, January 16th.
In other Raytheon news, Chairman Thomas A. Kennedy sold 44,778 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $215.90, for a total transaction of $9,667,570.20. Following the sale, the chairman now directly owns 138,339 shares in the company, valued at approximately $29,867,390.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Michael J. Wood sold 3,989 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $215.88, for a total transaction of $861,145.32. Following the sale, the chief accounting officer now owns 22,260 shares in the company, valued at $4,805,488.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,792 shares of company stock worth $14,973,517. 0.19% of the stock is owned by company insiders.
Raytheon (RTN) traded down $0.67 during trading on Friday, hitting $219.19. 1,259,097 shares of the stock traded hands, compared to its average volume of 1,900,000. Raytheon has a twelve month low of $148.65 and a twelve month high of $222.82. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.54. The stock has a market cap of $63,240.00, a PE ratio of 31.58, a price-to-earnings-growth ratio of 2.07 and a beta of 0.76.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. Raytheon had a net margin of 5.71% and a return on equity of 15.14%. The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the company posted $1.84 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. research analysts forecast that Raytheon will post 9.64 earnings per share for the current year.
Raytheon announced that its board has initiated a share buyback program on Wednesday, November 15th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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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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