Raytheon (NYSE:RTN) Stock Rating Lowered by Sanford C. Bernstein

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Raytheon (NYSE:RTN) was downgraded by equities researchers at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, MarketBeat reports. They currently have a $212.00 price objective on the aerospace company’s stock. Sanford C. Bernstein’s target price points to a potential upside of 5.84% from the company’s previous close.

Several other research firms have also commented on RTN. JPMorgan Chase & Co. raised shares of Raytheon from a “neutral” rating to an “overweight” rating and increased their target price for the company from $225.00 to $230.00 in a research note on Monday. Stifel Nicolaus increased their target price on shares of Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Bank of America reissued a “buy” rating and set a $265.00 target price (up from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Buckingham Research lowered shares of Raytheon from a “buy” rating to a “neutral” rating and cut their target price for the company from $265.00 to $195.00 in a research note on Monday, June 24th. Finally, Vertical Research lowered shares of Raytheon from a “buy” rating to a “hold” rating and cut their price target for the company from $216.00 to $203.00 in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. Raytheon currently has a consensus rating of “Buy” and a consensus target price of $212.00.

RTN stock opened at $200.31 on Tuesday. Raytheon has a 12 month low of $144.27 and a 12 month high of $210.89. The firm has a market cap of $55.34 billion, a PE ratio of 18.88, a P/E/G ratio of 1.59 and a beta of 0.85. The firm has a 50 day simple moving average of $185.72 and a 200 day simple moving average of $181.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.35.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.61 by $0.31. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The business had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period in the prior year, the business earned $2.45 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that Raytheon will post 11.73 earnings per share for the current year.

In other Raytheon news, VP Wesley D. Kremer sold 2,915 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $583,000.00. Following the transaction, the vice president now owns 26,260 shares in the company, valued at approximately $5,252,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Frank R. Jimenez sold 1,054 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 owns 25,863 shares in the company, valued at approximately $4,655,340. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,969 shares of company stock worth $2,622,820. Company insiders own 0.18% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Farmers National Bank acquired a new position in Raytheon in the 1st quarter valued at approximately $27,000. Semmax Financial Advisors Inc. increased its stake in Raytheon by 148.6% in the 1st quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock valued at $32,000 after buying an additional 104 shares during the period. Weaver Consulting Group acquired a new position in Raytheon in the 1st quarter valued at approximately $36,000. Berman Capital Advisors LLC increased its stake in Raytheon by 74.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock valued at $38,000 after buying an additional 94 shares during the period. Finally, Bremer Bank National Association acquired a new position in Raytheon in the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 72.96% of the company’s stock.

Raytheon Company Profile

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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