Raytheon Co. (RTN) Receives Average Rating of “Buy” from Brokerages
Raytheon Co. (NYSE:RTN) has earned an average recommendation of “Buy” from the twenty-two ratings firms that are covering the stock. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $150.92.
Several research firms recently commented on RTN. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Raytheon in a research report on Monday, November 14th. Argus reaffirmed a “buy” rating and set a $161.00 price objective on shares of Raytheon in a research report on Wednesday, August 3rd. Citigroup Inc. increased their price objective on Raytheon from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Zacks Investment Research cut Raytheon from a “hold” rating to a “sell” rating in a research report on Monday, October 17th. Finally, Robert W. Baird started coverage on Raytheon in a research report on Thursday, October 6th. They set an “outperform” rating and a $170.00 price objective on the stock.
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Institutional investors have recently added to or reduced their stakes in the stock. Tradewinds Capital Management LLC boosted its position in Raytheon by 11.6% in the third quarter. Tradewinds Capital Management LLC now owns 759 shares of the company’s stock valued at $103,000 after buying an additional 79 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Raytheon during the third quarter worth approximately $105,000. QCI Asset Management Inc. NY boosted its position in shares of Raytheon by 4.5% in the third quarter. QCI Asset Management Inc. NY now owns 810 shares of the company’s stock worth $110,000 after buying an additional 35 shares during the period. CWM LLC boosted its position in shares of Raytheon by 14.0% in the third quarter. CWM LLC now owns 814 shares of the company’s stock worth $111,000 after buying an additional 100 shares during the period. Finally, Penserra Capital Management LLC boosted its position in shares of Raytheon by 141.6% in the third quarter. Penserra Capital Management LLC now owns 865 shares of the company’s stock worth $117,000 after buying an additional 507 shares during the period. Institutional investors and hedge funds own 75.99% of the company’s stock.
Raytheon (NYSE:RTN) opened at 150.54 on Friday. Raytheon has a one year low of $115.73 and a one year high of $152.58. The stock has a market cap of $44.21 billion, a price-to-earnings ratio of 20.10 and a beta of 0.62. The stock’s 50 day moving average price is $140.89 and its 200 day moving average price is $138.02.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, October 27th. The company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.64 by $0.15. Raytheon had a return on equity of 19.98% and a net margin of 9.26%. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period last year, the firm posted $1.47 earnings per share. Raytheon’s revenue was up 4.3% compared to the same quarter last year. Equities analysts predict that Raytheon will post $7.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 2nd. Shareholders of record on Wednesday, January 4th will be issued a dividend of $0.7325 per share. This represents a $2.93 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, December 30th. Raytheon’s dividend payout ratio is presently 39.12%.
Raytheon Company Profile
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
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