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.
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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