Raytheon Company (RTN) Upgraded to Strong-Buy by BidaskClub
Raytheon Company (NYSE:RTN) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Saturday.
Several other equities analysts also recently weighed in on the stock. Buckingham Research lifted their target price on shares of Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research note on Friday. Cowen and Company reaffirmed an “outperform” rating and set a $189.00 price objective (up previously from $182.00) on shares of Raytheon in a research note on Thursday. Robert W. Baird reaffirmed an “outperform” rating and set a $212.00 price objective (up previously from $170.00) on shares of Raytheon in a research note on Thursday. Morgan Stanley assumed coverage on shares of Raytheon in a research note on Tuesday. They set an “equal weight” rating and a $188.00 price objective for the company. Finally, Argus reaffirmed a “buy” rating and set a $195.00 price objective (up previously from $175.00) on shares of Raytheon in a research note on Friday, August 4th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Raytheon presently has a consensus rating of “Buy” and a consensus price target of $182.49.
Shares of Raytheon (NYSE:RTN) opened at 179.35 on Friday. The company has a market cap of $52.06 billion, a P/E ratio of 24.77 and a beta of 0.59. The stock’s 50 day moving average is $168.59 and its 200-day moving average is $158.50. Raytheon has a one year low of $132.89 and a one year high of $181.05. Raytheon also was the recipient of unusually large options trading activity on Thursday. Traders acquired 14,447 call options on the stock. This represents an increase of approximately 901% compared to the typical volume of 1,443 call options.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.15. The firm had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $2.38 earnings per share. Equities research analysts forecast that Raytheon will post $7.59 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/12/raytheon-company-rtn-upgraded-to-strong-buy-by-bidaskclub.html.
In other Raytheon news, VP Wesley D. Kremer sold 1,010 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,773,481.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert E. Beauchamp purchased 1,162 shares of the business’s stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $171.99 per share, with a total value of $199,852.38. Following the purchase, the director now owns 4,303 shares in the company, valued at $740,072.97. The disclosure for this purchase can be found here. In the last three months, insiders sold 15,911 shares of company stock valued at $2,580,752. Corporate insiders own 0.19% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in RTN. Veritable L.P. boosted its position in Raytheon by 3.9% in the second quarter. Veritable L.P. now owns 14,966 shares of the aerospace company’s stock worth $2,417,000 after buying an additional 566 shares in the last quarter. Bancorpsouth Inc. boosted its position in Raytheon by 5.3% in the second quarter. Bancorpsouth Inc. now owns 27,411 shares of the aerospace company’s stock worth $4,426,000 after buying an additional 1,369 shares in the last quarter. OxFORD Asset Management LLP boosted its position in Raytheon by 238.8% in the second quarter. OxFORD Asset Management LLP now owns 51,452 shares of the aerospace company’s stock worth $8,308,000 after buying an additional 36,265 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Raytheon by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 798,986 shares of the aerospace company’s stock worth $129,017,000 after buying an additional 2,849 shares during the last quarter. Finally, Ropes Wealth Advisors LLC raised its stake in shares of Raytheon by 0.5% in the second quarter. Ropes Wealth Advisors LLC now owns 40,992 shares of the aerospace company’s stock worth $6,619,000 after buying an additional 218 shares during the last quarter. 74.98% of the stock is 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.
Receive News & Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related companies with MarketBeat.com's FREE daily email newsletter.