Raytheon Company (RTN) Rating Reiterated by Cowen and Company
Raytheon Company (NYSE:RTN)‘s stock had its “outperform” rating reiterated by equities research analysts at Cowen and Company in a note issued to investors on Thursday. They currently have a $189.00 price target on the aerospace company’s stock, up from their prior price target of $182.00. Cowen and Company’s target price suggests a potential upside of 6.41% from the company’s previous close.
The analysts wrote, “RTN’s dinner last night suggested it’s doing well on domestic captures and has.””
Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. Jefferies Group LLC restated a “buy” rating and set a $172.00 price objective on shares of Raytheon in a research report on Tuesday, May 23rd. Robert W. Baird restated an “outperform” rating and set a $212.00 price objective (up previously from $170.00) on shares of Raytheon in a research report on Thursday. Sanford C. Bernstein restated an “outperform” rating and set a $183.00 price objective (up previously from $180.00) on shares of Raytheon in a research report on Sunday, July 30th. Finally, Stifel Nicolaus restated a “buy” rating and set a $185.00 price objective (up previously from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $181.39.
Shares of Raytheon (RTN) traded up 1.214% during midday trading on Thursday, hitting $179.776. 942,305 shares of the stock traded hands. Raytheon has a 52-week low of $132.89 and a 52-week high of $181.05. The company has a market cap of $52.18 billion, a price-to-earnings ratio of 24.831 and a beta of 0.59. The stock has a 50-day moving average of $168.07 and a 200-day moving average of $158.27. Raytheon also saw unusually large options trading activity on Thursday. Traders bought 14,447 call options on the stock. This represents an increase of approximately 901% compared to the average daily volume of 1,443 call options.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same quarter in the previous year, the business posted $2.38 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts predict that Raytheon will post $7.59 earnings per share for the current fiscal year.
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In other Raytheon news, CAO Michael J. Wood sold 1,442 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $162.98, for a total value of $235,017.16. Following the transaction, the chief accounting officer now directly owns 18,470 shares of the company’s stock, valued at approximately $3,010,240.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Wesley D. Kremer sold 1,010 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total transaction of $164,731.00. Following the completion of the transaction, the vice president now directly owns 23,136 shares in the company, valued at $3,773,481.60. The disclosure for this sale can be found here. Insiders sold a total of 15,911 shares of company stock worth $2,580,752 over the last three months. 0.19% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Lockheed Martin Investment Management Co. bought a new position in Raytheon during the first quarter worth $1,830,000. James Investment Research Inc. boosted its position in Raytheon by 0.6% in the first quarter. James Investment Research Inc. now owns 68,346 shares of the aerospace company’s stock worth $10,422,000 after buying an additional 381 shares during the period. GHP Investment Advisors Inc. bought a new position in Raytheon during the first quarter worth $204,000. Capstone Asset Management Co. boosted its position in Raytheon by 7.7% in the first quarter. Capstone Asset Management Co. now owns 72,253 shares of the aerospace company’s stock worth $11,019,000 after buying an additional 5,179 shares during the period. Finally, Banced Corp boosted its position in Raytheon by 6.0% in the first quarter. Banced Corp now owns 2,995 shares of the aerospace company’s stock worth $457,000 after buying an additional 169 shares during the period. 74.98% of the stock is currently owned by institutional investors and hedge funds.
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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