Raytheon (NYSE:RTN) had its price objective increased by Stifel Nicolaus from $205.00 to $218.00 in a research note published on Monday, BenzingaRatingsTable reports. Stifel Nicolaus currently has a buy rating on the aerospace company’s stock.
RTN has been the topic of several other research reports. Zacks Investment Research raised Raytheon from a hold rating to a buy rating and set a $205.00 price target on the stock in a research note on Wednesday, April 17th. UBS Group downgraded Raytheon from a buy rating to a neutral rating and dropped their price target for the company from $220.00 to $200.00 in a research note on Wednesday, April 3rd. Wolfe Research set a $205.00 price target on Raytheon and gave the company a buy rating in a research note on Friday, April 26th. Jefferies Financial Group lifted their price target on Raytheon from $202.00 to $216.00 and gave the company a buy rating in a research note on Monday, May 6th. Finally, ValuEngine raised Raytheon from a sell rating to a hold rating in a research note on Friday, June 7th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Raytheon has an average rating of Buy and a consensus price target of $208.36.
Shares of Raytheon stock opened at $177.12 on Monday. The firm has a market cap of $49.71 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Raytheon has a 12 month low of $144.27 and a 12 month high of $210.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.43.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.32. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter last year, the business posted $2.20 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts expect that Raytheon will post 11.62 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, July 9th. Raytheon’s dividend payout ratio is currently 35.53%.
In related news, CAO Michael J. Wood sold 543 shares of Raytheon stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $180.72, for a total value of $98,130.96. Following the sale, the chief accounting officer now owns 15,081 shares of the company’s stock, valued at $2,725,438.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Wesley D. Kremer sold 8,186 shares of Raytheon stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $185.00, for a total value of $1,514,410.00. Following the completion of the sale, the vice president now directly owns 29,175 shares in the company, valued at approximately $5,397,375. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,592 shares of company stock worth $2,310,174. 0.18% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in RTN. HNP Capital LLC grew its holdings in Raytheon by 0.6% during the first quarter. HNP Capital LLC now owns 9,030 shares of the aerospace company’s stock worth $1,644,000 after purchasing an additional 57 shares during the period. ClariVest Asset Management LLC grew its holdings in Raytheon by 3.0% during the first quarter. ClariVest Asset Management LLC now owns 1,937 shares of the aerospace company’s stock worth $352,000 after purchasing an additional 57 shares during the period. Weatherly Asset Management L. P. grew its holdings in Raytheon by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 14,960 shares of the aerospace company’s stock worth $2,724,000 after purchasing an additional 63 shares during the period. Cibc Bank USA grew its holdings in Raytheon by 1.7% during the fourth quarter. Cibc Bank USA now owns 3,733 shares of the aerospace company’s stock worth $572,000 after purchasing an additional 64 shares during the period. Finally, Lodestar Investment Counsel LLC IL grew its holdings in Raytheon by 3.1% during the first quarter. Lodestar Investment Counsel LLC IL now owns 2,148 shares of the aerospace company’s stock worth $391,000 after purchasing an additional 65 shares during the period. 74.39% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also: Initial Public Offering (IPO)
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.