UBS Group Increases Raytheon (NYSE:RTN) Price Target to $215.00

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Raytheon (NYSE:RTN) had its price objective lifted by UBS Group from $205.00 to $215.00 in a report issued on Friday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the aerospace company’s stock.

Other equities analysts have also issued research reports about the company. Buckingham Research lowered Raytheon from a buy rating to a neutral rating and dropped their price objective for the stock from $265.00 to $195.00 in a research note on Monday, June 24th. Vertical Research lowered Raytheon from a buy rating to a hold rating and dropped their price objective for the stock from $216.00 to $203.00 in a research note on Tuesday, June 11th. Bank of America reaffirmed a buy rating and issued a $265.00 price objective (up previously from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Stifel Nicolaus upped their price objective on Raytheon from $205.00 to $218.00 and gave the stock a buy rating in a research note on Monday, June 10th. Finally, ValuEngine lowered Raytheon from a hold rating to a sell rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $210.80.

Shares of RTN opened at $198.72 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $184.71 and a two-hundred day simple moving average of $180.98. The stock has a market cap of $54.99 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.58 and a beta of 0.85. Raytheon has a 52 week low of $144.27 and a 52 week high of $210.89.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.31. The business had revenue of $7.16 billion during the quarter, compared to analysts’ expectations of $7.02 billion. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.45 earnings per share. On average, equities analysts anticipate that Raytheon will post 11.73 earnings per share for the current fiscal year.

In related news, VP Frank R. Jimenez sold 1,054 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total transaction of $189,720.00. Following the completion of the transaction, the vice president now directly owns 25,863 shares of the company’s stock, valued at $4,655,340. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Randa G. Newsome sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total value of $1,850,100.00. Following the transaction, the vice president now directly owns 20,396 shares of the company’s stock, valued at $3,773,463.96. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. River & Mercantile Asset Management LLP bought a new position in Raytheon during the second quarter valued at approximately $10,133,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Raytheon during the second quarter valued at approximately $2,260,000. Hancock Whitney Corp boosted its stake in Raytheon by 8.2% during the second quarter. Hancock Whitney Corp now owns 6,840 shares of the aerospace company’s stock valued at $1,189,000 after buying an additional 516 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in Raytheon by 9.9% during the second quarter. EP Wealth Advisors LLC now owns 13,908 shares of the aerospace company’s stock valued at $2,418,000 after buying an additional 1,255 shares during the last quarter. Finally, Boston Partners bought a new position in Raytheon during the second quarter valued at approximately $46,000. 73.08% of the stock is owned by institutional investors.

About Raytheon

Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

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Analyst Recommendations for Raytheon (NYSE:RTN)

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