Raytheon (RTN) Receives Outperform Rating from Wells Fargo & Co

Wells Fargo & Co restated their outperform rating on shares of Raytheon (NYSE:RTN) in a research report released on Tuesday, The Fly reports. Wells Fargo & Co currently has a $215.00 price target on the aerospace company’s stock, up from their prior price target of $202.00.

Several other research analysts also recently commented on RTN. Zacks Investment Research downgraded Raytheon from a buy rating to a hold rating in a report on Monday, September 18th. Deutsche Bank upgraded Raytheon from a hold rating to a buy rating and raised their price objective for the stock from $180.00 to $210.00 in a report on Friday, September 29th. Jefferies Group restated a buy rating and set a $190.00 price objective on shares of Raytheon in a report on Friday, September 29th. ValuEngine downgraded Raytheon from a buy rating to a hold rating in a report on Monday, October 2nd. Finally, Citigroup reiterated a buy rating and issued a $215.00 price target (up from $192.00) on shares of Raytheon in a report on Monday, October 9th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $204.12.

Raytheon (RTN) traded up $0.97 on Tuesday, reaching $196.68. The company’s stock had a trading volume of 1,226,738 shares, compared to its average volume of 1,230,000. The stock has a market cap of $56,860.00, a P/E ratio of 26.47, a P/E/G ratio of 2.66 and a beta of 0.58. Raytheon has a one year low of $141.28 and a one year high of $199.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55.

Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. Raytheon’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business posted $1.79 EPS. equities analysts anticipate that Raytheon will post 7.61 EPS for the current year.

Raytheon declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 15th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be issued a $0.7975 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.62%. Raytheon’s dividend payout ratio is presently 42.93%.

In related news, Director Letitia A. Long sold 650 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $185.83, for a total transaction of $120,789.50. Following the transaction, the director now directly owns 2,273 shares in the company, valued at approximately $422,391.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen J. Hadley sold 800 shares of the business’s stock in a transaction 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 transaction, the director now owns 11,360 shares in the company, valued at $2,161,467.20. The disclosure for this sale can be found here. Insiders sold a total of 1,895 shares of company stock worth $357,215 over the last quarter. Company insiders own 0.19% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. TCI Wealth Advisors Inc. increased its stake in Raytheon by 0.8% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,048 shares of the aerospace company’s stock worth $331,000 after buying an additional 17 shares in the last quarter. Omnia Family Wealth LLC increased its stake in Raytheon by 2.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 1,326 shares of the aerospace company’s stock worth $215,000 after buying an additional 30 shares in the last quarter. Courier Capital LLC increased its stake in Raytheon by 1.1% during the 2nd quarter. Courier Capital LLC now owns 2,772 shares of the aerospace company’s stock worth $448,000 after buying an additional 30 shares in the last quarter. Linscomb & Williams Inc. increased its stake in Raytheon by 1.8% during the 2nd quarter. Linscomb & Williams Inc. now owns 1,734 shares of the aerospace company’s stock worth $280,000 after buying an additional 30 shares in the last quarter. Finally, Regal Investment Advisors LLC increased its stake in Raytheon by 1.9% during the 2nd quarter. Regal Investment Advisors LLC now owns 1,722 shares of the aerospace company’s stock worth $278,000 after buying an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 73.26% of the company’s stock.

WARNING: This article was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this article on another website, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/01/20/raytheon-rtn-receives-outperform-rating-from-wells-fargo-co.html.

Raytheon Company Profile

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.

The Fly

Analyst Recommendations for Raytheon (NYSE:RTN)

Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply