Somewhat Positive News Coverage Somewhat Unlikely to Impact Raytheon (NYSE:RTN) Share Price
News stories about Raytheon (NYSE:RTN) have been trending somewhat positive this week, Accern reports. Accern scores the sentiment of news coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Raytheon earned a news impact score of 0.22 on Accern’s scale. Accern also gave media headlines about the aerospace company an impact score of 46.1663925896279 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Major defense stocks surge to all-time highs after Trump’s tough rhetoric against North Korea (cnbc.com)
- Raytheon Company (RTN) Receives Average Recommendation of “Buy” from Analysts (americanbankingnews.com)
- What Do The Technicals Boil Down To For Raytheon Co (RTN)? – Evergreen Caller (evergreencaller.com)
- The Winfield Associates Inc. Decreases Position in Raytheon Company (NYSE:RTN) (expressnewsline.com)
- Argus Reaffirms Buy Rating for Raytheon Company (RTN) (americanbankingnews.com)
Shares of Raytheon (NYSE RTN) traded up 2.57% on Wednesday, hitting $179.30. The stock had a trading volume of 2,662,339 shares. Raytheon has a 1-year low of $132.89 and a 1-year high of $179.59. The firm’s 50-day moving average is $166.61 and its 200 day moving average is $157.42. The stock has a market cap of $52.04 billion, a P/E ratio of 24.77 and a beta of 0.59.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.74 by $0.15. The firm had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 EPS. Equities analysts forecast that Raytheon will post $7.59 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th were issued a $0.7975 dividend. The ex-dividend date was Friday, June 30th. This represents a $3.19 annualized dividend and a yield of 1.78%. Raytheon’s dividend payout ratio (DPR) is 43.94%.
Several equities research analysts have issued reports on RTN shares. Vetr downgraded Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price objective on the stock. in a report on Tuesday, May 9th. Jefferies Group LLC restated a “buy” rating and set a $172.00 price objective on shares of Raytheon in a report on Monday, June 26th. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a report on Monday, May 1st. Royal Bank Of Canada restated a “buy” rating and set a $181.00 price objective on shares of Raytheon in a report on Friday, June 2nd. Finally, Bank of America Corporation restated a “buy” rating and set a $200.00 price objective (up from $185.00) on shares of Raytheon in a report on Tuesday, August 1st. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $177.32.
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In other news, Director Robert E. Beauchamp purchased 1,162 shares of the business’s stock in a transaction on Monday, July 31st. The stock was purchased at an average price of $171.99 per share, with a total value of $199,852.38. Following the acquisition, the director now directly owns 4,303 shares in the company, valued at approximately $740,072.97. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Taylor W. Lawrence sold 2,756 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.04, for a total value of $446,582.24. Following the completion of the transaction, the vice president now directly owns 53,285 shares of the company’s stock, valued at approximately $8,634,301.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,911 shares of company stock valued at $2,580,752. Insiders own 0.19% of the company’s stock.
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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