Raytheon’s (NYSE:RTN) Buy Rating Reiterated at Cowen

Raytheon (NYSE:RTN)‘s stock had its “buy” rating reiterated by analysts at Cowen in a research report issued on Thursday, January 25th. They presently have a $215.00 target price on the aerospace company’s stock. Cowen’s target price would suggest a potential upside of 3.60% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a report on Monday, October 30th. ValuEngine lowered Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Stifel Nicolaus boosted their price target on Raytheon from $185.00 to $195.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. JPMorgan Chase & Co. cut their price objective on Raytheon from $194.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. Finally, Royal Bank of Canada restated a “buy” rating and set a $209.00 price objective on shares of Raytheon in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $210.77.

Shares of Raytheon (NYSE RTN) opened at $207.52 on Thursday. The company has a market capitalization of $59,990.00, a PE ratio of 29.90, a PEG ratio of 1.94 and a beta of 0.76. Raytheon has a 52-week low of $148.65 and a 52-week high of $213.45. The company has a current ratio of 1.54, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.01. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the firm posted $1.84 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. research analysts forecast that Raytheon will post 9.65 EPS for the current fiscal year.

Raytheon announced that its Board of Directors has authorized a share repurchase program on Wednesday, November 15th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

In related news, VP Frank R. Jimenez sold 3,405 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $210.93, for a total transaction of $718,216.65. Following the completion of the sale, the vice president now directly owns 25,342 shares of the company’s stock, valued at approximately $5,345,388.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Frank R. Jimenez sold 175 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $189.13, for a total transaction of $33,097.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,074 shares of company stock valued at $1,648,810. 0.19% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of RTN. Signature Estate & Investment Advisors LLC purchased a new position in Raytheon in the 3rd quarter valued at about $103,000. Stonehearth Capital Management LLC bought a new position in shares of Raytheon during the fourth quarter worth about $103,000. Rowland & Co. Investment Counsel ADV bought a new position in shares of Raytheon during the fourth quarter worth about $106,000. Jacobi Capital Management LLC lifted its position in shares of 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. Finally, Global Trust Asset Management LLC bought a new position in shares of Raytheon during the fourth quarter worth about $136,000. 72.66% of the stock is owned by institutional investors.

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About Raytheon

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.

Analyst Recommendations for Raytheon (NYSE:RTN)

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