Cowen reiterated their buy rating on shares of Raytheon (NYSE:RTN) in a research report released on Tuesday morning. The firm currently has a $235.00 price objective on the aerospace company’s stock.
Several other brokerages have also weighed in on RTN. Royal Bank of Canada set a $235.00 price objective on Raytheon and gave the company a buy rating in a report on Tuesday, January 23rd. Robert W. Baird restated a buy rating and issued a $237.00 price objective on shares of Raytheon in a report on Friday, January 26th. Stifel Nicolaus upped their price objective on Raytheon from $210.00 to $220.00 and gave the company a buy rating in a report on Friday, January 26th. Zacks Investment Research lowered Raytheon from a buy rating to a hold rating in a report on Friday, April 6th. Finally, Morgan Stanley cut their price objective on Raytheon from $245.00 to $238.00 and set an overweight rating for the company in a report on Thursday, April 12th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Raytheon currently has an average rating of Buy and a consensus target price of $220.53.
Shares of Raytheon stock opened at $227.35 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.54 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $65,796.67, a PE ratio of 29.84, a PEG ratio of 2.15 and a beta of 0.70. Raytheon has a fifty-two week low of $153.81 and a fifty-two week high of $228.85.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.01. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.81 billion. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share. equities analysts anticipate that Raytheon will post 9.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Wednesday, April 11th will be issued a dividend of $0.8675 per share. This represents a $3.47 annualized dividend and a dividend yield of 1.53%. This is an increase from Raytheon’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, April 10th. Raytheon’s dividend payout ratio is currently 45.54%.
In related news, VP Frank R. Jimenez sold 3,405 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $210.93, for a total transaction of $718,216.65. Following the transaction, the vice president now directly owns 25,342 shares of the company’s stock, valued at $5,345,388.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael J. Wood sold 1,974 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $208.07, for a total value of $410,730.18. Following the transaction, the vice president now directly owns 17,467 shares in the company, valued at $3,634,358.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 105,866 shares of company stock valued at $22,730,714. 0.19% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of RTN. Cubist Systematic Strategies LLC raised its position in Raytheon by 80.6% during the third quarter. Cubist Systematic Strategies LLC now owns 2,557 shares of the aerospace company’s stock valued at $477,000 after buying an additional 1,141 shares during the period. GSA Capital Partners LLP raised its position in Raytheon by 9.9% during the third quarter. GSA Capital Partners LLP now owns 4,367 shares of the aerospace company’s stock valued at $815,000 after buying an additional 393 shares during the period. Atlantic Trust Group LLC raised its position in Raytheon by 1,486.1% during the third quarter. Atlantic Trust Group LLC now owns 273,340 shares of the aerospace company’s stock valued at $50,999,000 after buying an additional 256,106 shares during the period. Prudential Financial Inc. raised its position in Raytheon by 13.2% during the third quarter. Prudential Financial Inc. now owns 469,549 shares of the aerospace company’s stock valued at $87,608,000 after buying an additional 54,790 shares during the period. Finally, Washington Trust Bank raised its position in Raytheon by 3.3% during the fourth quarter. Washington Trust Bank now owns 37,112 shares of the aerospace company’s stock valued at $6,972,000 after buying an additional 1,195 shares during the period. 73.53% of the stock is currently 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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