JPMorgan Chase & Co. upgraded shares of Raytheon (NYSE:RTN) from a neutral rating to an overweight rating in a report released on Monday, BenzingaRatingsTable reports. They currently have $230.00 price target on the aerospace company’s stock, up from their prior price target of $225.00.
Several other brokerages have also recently weighed in on RTN. Buckingham Research cut Raytheon from a buy rating to a neutral rating and lowered their target price for the stock from $265.00 to $195.00 in a report on Monday, June 24th. UBS Group boosted their target price on Raytheon from $205.00 to $215.00 and gave the stock a neutral rating in a report on Friday, September 13th. Vertical Research cut Raytheon from a buy rating to a hold rating and lowered their target price for the stock from $216.00 to $203.00 in a report on Tuesday, June 11th. Bank of America restated a buy rating and set a $265.00 target price (up from $224.00) on shares of Raytheon in a report on Friday, July 26th. Finally, Stifel Nicolaus boosted their target price on Raytheon from $205.00 to $218.00 and gave the stock a buy rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $212.00.
NYSE:RTN opened at $200.31 on Monday. Raytheon has a 12 month low of $144.27 and a 12 month high of $210.89. The stock has a 50 day moving average of $185.72 and a two-hundred day moving average of $181.34. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. The firm has a market cap of $55.34 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.61 by $0.31. The company had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.02 billion. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. Raytheon’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.45 EPS. On average, research analysts forecast that Raytheon will post 11.73 earnings per share for the current year.
In related news, VP Wesley D. Kremer sold 2,915 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $583,000.00. Following the transaction, the vice president now directly owns 26,260 shares in the company, valued at $5,252,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 1,054 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total value of $189,720.00. Following the completion of the transaction, the vice president now owns 25,863 shares in the company, valued at $4,655,340. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,969 shares of company stock worth $2,622,820. Insiders own 0.18% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farmers National Bank acquired a new position in Raytheon in the first quarter valued at approximately $27,000. Semmax Financial Advisors Inc. lifted its holdings in Raytheon by 148.6% in the first quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Weaver Consulting Group acquired a new position in Raytheon in the first quarter valued at approximately $36,000. Bremer Bank National Association acquired a new position in Raytheon in the first quarter valued at approximately $39,000. Finally, Berman Capital Advisors LLC lifted its holdings in Raytheon by 74.6% in the second quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 72.96% of the company’s stock.
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.
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