Brokerages Set Raytheon (RTN) Price Target at $217.82

Raytheon (NYSE:RTN) has been assigned an average recommendation of “Buy” from the nineteen ratings firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $219.07.

Several equities research analysts recently issued reports on the stock. Cowen reaffirmed a “buy” rating and set a $235.00 price target on shares of Raytheon in a research note on Tuesday. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. Morgan Stanley dropped their price target on shares of Raytheon from $245.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, April 12th. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Sanford C. Bernstein boosted their target price on shares of Raytheon from $231.00 to $255.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th.

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Raytheon stock traded down $0.71 during midday trading on Friday, hitting $227.35. 1,256,075 shares of the stock were exchanged, compared to its average volume of 1,779,690. Raytheon has a 1 year low of $153.81 and a 1 year high of $228.85. The company has a market capitalization of $65,508.17, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 2.14 and a beta of 0.70. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.54 and a quick ratio of 1.46.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.01. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the firm posted $1.84 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. analysts forecast 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 given a $0.8675 dividend. The ex-dividend date is Tuesday, April 10th. 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. Raytheon’s payout ratio is presently 45.54%.

In other news, VP Rebecca R. Rhoads sold 12,054 shares of Raytheon stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $212.09, for a total value of $2,556,532.86. Following the completion of the transaction, the vice president now directly owns 26,266 shares of the company’s stock, valued at approximately $5,570,755.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Frank R. Jimenez sold 3,405 shares of Raytheon stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $210.93, for a total transaction of $718,216.65. Following the completion of the transaction, the vice president now directly owns 25,342 shares of the company’s stock, valued at $5,345,388.06. The disclosure for this sale can be found here. Insiders sold a total of 105,866 shares of company stock valued at $22,730,714 over the last ninety days. Company insiders own 0.19% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Stonehearth Capital Management LLC acquired a new position in Raytheon during the 4th quarter valued at about $103,000. Rowland & Co. Investment Counsel ADV acquired a new position in Raytheon during the 4th quarter valued at about $106,000. Global Trust Asset Management LLC acquired a new position in Raytheon during the 4th quarter valued at about $136,000. Certified Advisory Corp acquired a new position in Raytheon during the 4th quarter valued at about $174,000. Finally, Risk Paradigm Group LLC boosted its stake in Raytheon by 120.9% during the 4th quarter. Risk Paradigm Group LLC now owns 963 shares of the aerospace company’s stock valued at $181,000 after purchasing an additional 527 shares during the period. 73.53% of the stock is owned by institutional investors and hedge funds.

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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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