Raytheon (RTN) Stock Rating Reaffirmed by Wells Fargo & Co

Raytheon (NYSE:RTN)‘s stock had its “outperform” rating reissued by equities research analysts at Wells Fargo & Co in a research note issued to investors on Tuesday. They currently have a $215.00 price objective on the aerospace company’s stock, up from their previous price objective of $202.00. Wells Fargo & Co’s target price suggests a potential upside of 8.88% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. Buckingham Research increased their target price on shares of Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Robert W. Baird reissued a “buy” rating and issued a $212.00 price target on shares of Raytheon in a report on Tuesday, October 24th. Cowen reissued a “buy” rating and issued a $203.00 price target on shares of Raytheon in a report on Thursday, October 26th. Citigroup reissued a “buy” rating and issued a $215.00 price target (up from $192.00) on shares of Raytheon in a report on Monday, October 9th. Finally, Deutsche Bank raised shares of Raytheon from a “hold” rating to a “buy” rating and upped their price target for the company from $180.00 to $210.00 in a report on Friday, September 29th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $204.12.

Shares of Raytheon (RTN) opened at $197.46 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.55 and a debt-to-equity ratio of 0.44. Raytheon has a 12 month low of $141.28 and a 12 month high of $198.07. The firm has a market cap of $57,083.12, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 2.73 and a beta of 0.58.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The firm had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the previous year, the firm earned $1.79 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. equities research analysts forecast that Raytheon will post 7.61 EPS for the current year.

Raytheon declared that its board has approved a share repurchase program on Wednesday, November 15th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other Raytheon news, Director Stephen J. Hadley sold 800 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total transaction of $152,216.00. Following the transaction, the director now owns 11,360 shares in the company, valued at $2,161,467.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Frank R. Jimenez sold 175 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $189.13, for a total value of $33,097.75. The disclosure for this sale can be found here. Insiders sold 1,895 shares of company stock worth $357,215 in the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position 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 acquiring an additional 367,898 shares during the period. BlackRock Inc. boosted 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 period. Franklin Resources Inc. boosted its position in shares of Raytheon by 1.8% in the second quarter. Franklin Resources Inc. now owns 2,611,461 shares of the aerospace company’s stock valued at $421,682,000 after acquiring an additional 46,444 shares during the period. Alliancebernstein L.P. boosted its position in shares of Raytheon by 55.2% in the second quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock valued at $376,037,000 after acquiring an additional 827,931 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Raytheon by 42.7% in the second quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock valued at $294,889,000 after acquiring an additional 546,398 shares during the period. Institutional investors own 73.26% of the company’s stock.

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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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