Bank of America Corporation set a $220.00 price target on Raytheon Company (NYSE:RTN) in a research report released on Friday, October 27th. The firm currently has a buy rating on the aerospace company’s stock.
A number of other equities analysts have also recently issued reports on the company. Stifel Nicolaus increased their target price on Raytheon from $185.00 to $195.00 and gave the stock a hold rating in a report on Friday, October 27th. Cowen and Company reissued a buy rating and issued a $203.00 target price on shares of Raytheon in a report on Thursday, October 26th. Robert W. Baird reaffirmed a buy rating and set a $212.00 price target on shares of Raytheon in a report on Tuesday, October 24th. Royal Bank Of Canada reaffirmed a buy rating and set a $209.00 price target on shares of Raytheon in a report on Tuesday, October 10th. Finally, Citigroup Inc. reaffirmed a buy rating and set a $215.00 price target (up from $192.00) on shares of Raytheon in a report on Monday, October 9th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $199.24.
Shares of Raytheon (RTN) traded down $0.35 during mid-day trading on Friday, hitting $184.46. The company’s stock had a trading volume of 986,300 shares, compared to its average volume of 1,480,398. 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 has a 52 week low of $137.70 and a 52 week high of $190.25. The company has a market cap of $53,170.00, a P/E ratio of 24.45, a P/E/G ratio of 2.51 and a beta of 0.57.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter last year, the company earned $1.79 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. equities analysts expect that Raytheon will post 7.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th were issued a dividend of $0.7975 per share. The ex-dividend date was Wednesday, October 11th. This represents a $3.19 annualized dividend and a yield of 1.73%. Raytheon’s dividend payout ratio is presently 42.93%.
In other news, VP Frank R. Jimenez sold 650 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Frank R. Jimenez sold 500 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total value of $90,970.00. Following the completion of the sale, the vice president now owns 29,292 shares in the company, valued at $5,329,386.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,941 shares of company stock worth $902,999. Corporate insiders own 0.19% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Raytheon by 1.7% in the second quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock valued at $3,597,519,000 after purchasing an additional 367,898 shares in the last quarter. BlackRock Inc. increased its position in shares of Raytheon by 2.7% in the second quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock valued at $3,219,097,000 after acquiring an additional 527,139 shares during the last quarter. State Street Corp increased its position in shares of Raytheon by 2.6% in the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock valued at $1,919,348,000 after acquiring an additional 313,435 shares during the last quarter. Morgan Stanley increased its position in shares of Raytheon by 7.2% in the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock valued at $684,945,000 after acquiring an additional 302,274 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Raytheon by 0.7% in the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock valued at $537,996,000 after acquiring an additional 23,172 shares during the last quarter. Institutional investors own 74.24% of the company’s stock.
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.
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