Raytheon Company (RTN) Upgraded to “Buy” at Vetr Inc.
Raytheon Company (NYSE:RTN) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $178.87 price objective on the aerospace company’s stock. Vetr‘s target price points to a potential upside of 7.10% from the stock’s previous close.
Several other research firms have also recently commented on RTN. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $181.00 target price on shares of Raytheon in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $172.00 target price on shares of Raytheon in a research note on Monday, June 26th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $168.45.
Shares of Raytheon (NYSE RTN) traded down 0.01% on Monday, hitting $167.01. 863,690 shares of the stock were exchanged. Raytheon has a one year low of $132.89 and a one year high of $167.94. The firm’s 50-day moving average is $161.46 and its 200-day moving average is $153.27. The company has a market cap of $48.61 billion, a P/E ratio of 21.52 and a beta of 0.58.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, April 27th. The aerospace company reported $1.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.12. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Raytheon had a net margin of 8.28% and a return on equity of 19.73%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.43 EPS. On average, equities analysts forecast that Raytheon will post $7.48 EPS for the current fiscal year.
In other news, VP Wesley D. Kremer sold 1,010 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total value of $164,731.00. Following the completion of the transaction, the vice president now owns 23,136 shares in the company, valued at approximately $3,773,481.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Michael J. Wood sold 1,442 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $162.98, for a total transaction of $235,017.16. Following the completion of the transaction, the chief accounting officer now owns 18,470 shares of the company’s stock, valued at approximately $3,010,240.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,911 shares of company stock valued at $2,580,752. Corporate insiders own 0.19% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. St. Johns Investment Management Company LLC purchased a new stake in shares of Raytheon during the second quarter worth about $113,000. Crestwood Advisors Group LLC purchased a new stake in shares of Raytheon during the first quarter worth about $110,000. Oakworth Capital Inc. boosted its stake in shares of Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock worth $111,000 after buying an additional 445 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Raytheon during the first quarter worth about $111,000. Finally, Jacobi Capital Management LLC boosted its stake in shares of Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after buying an additional 553 shares during the period. Institutional investors own 74.75% 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.
To view Vetr’s full report, visit Vetr’s official website.
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