Raytheon (NYSE:RTN)‘s stock had its “buy” rating reissued by investment analysts at Stifel Nicolaus in a research report issued on Tuesday. They currently have a $210.00 target price on the aerospace company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 8.61% from the company’s current price.
Several other brokerages also recently weighed in on RTN. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Citigroup reiterated a “buy” rating and issued a $215.00 target price (up from $192.00) on shares of Raytheon in a research note on Monday, October 9th. ValuEngine upgraded Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Robert W. Baird reiterated a “buy” rating and issued a $212.00 target price on shares of Raytheon in a research note on Tuesday, October 24th. Finally, JPMorgan Chase & Co. downgraded Raytheon from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $190.00 to $210.00 in a research note on Tuesday, December 12th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $202.65.
Shares of Raytheon (NYSE RTN) traded down $0.13 during mid-day trading on Tuesday, hitting $193.35. The company’s stock had a trading volume of 1,370,000 shares, compared to its average volume of 1,290,000. Raytheon has a one year low of $141.28 and a one year high of $194.69. The stock has a market cap of $55,890.00, a P/E ratio of 26.02, a P/E/G ratio of 2.39 and a beta of 0.58. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same period last year, the business posted $1.79 EPS. The company’s revenue was up 4.5% on a year-over-year basis. research analysts expect that Raytheon will post 7.61 EPS for the current year.
Raytheon announced that its board has approved a stock repurchase plan on Wednesday, November 15th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total value of $152,216.00. Following the completion of the sale, the director now directly owns 11,360 shares of the company’s stock, valued at approximately $2,161,467.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Frank R. Jimenez sold 175 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $189.13, for a total value of $33,097.75. The disclosure for this sale can be found here. Insiders sold a total of 1,895 shares of company stock valued at $357,215 over the last three months. Insiders own 0.19% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Signature Estate & Investment Advisors LLC acquired a new position in Raytheon during the third quarter worth $103,000. Rowland & Co. Investment Counsel ADV acquired a new position in Raytheon during the fourth quarter worth $106,000. Jacobi Capital Management LLC raised its holdings in Raytheon by 5.3% during the second quarter. Jacobi Capital Management LLC now owns 797 shares of the aerospace company’s stock worth $132,000 after purchasing an additional 40 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Raytheon during the second quarter worth $139,000. Finally, Invictus RG acquired a new position in Raytheon during the third quarter worth $152,000. 73.12% of the stock is owned by hedge funds and other institutional investors.
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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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