Raytheon Company (RTN) Lifted to Buy at ValuEngine
ValuEngine upgraded shares of Raytheon Company (NYSE:RTN) from a hold rating to a buy rating in a report issued on Monday.
RTN has been the topic of several other reports. Vetr lowered Raytheon from a buy rating to a hold rating and set a $187.08 target price on the stock. in a report on Tuesday, August 15th. BidaskClub upgraded Raytheon from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Stifel Nicolaus restated a buy rating and set a $185.00 target price (up from $175.00) on shares of Raytheon in a report on Sunday, July 30th. Argus restated a buy rating and set a $195.00 target price (up from $175.00) on shares of Raytheon in a report on Friday, August 4th. Finally, Zacks Investment Research upgraded Raytheon from a hold rating to a buy rating and set a $183.00 target price on the stock in a report on Tuesday, May 30th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $184.67.
Raytheon (NYSE RTN) opened at 180.49 on Monday. The company has a 50-day moving average price of $177.37 and a 200-day moving average price of $163.33. The stock has a market cap of $52.39 billion, a P/E ratio of 24.93 and a beta of 0.58. Raytheon has a one year low of $132.89 and a one year high of $184.17.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. During the same period last year, the company earned $2.38 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. On average, analysts anticipate that Raytheon will post $7.59 earnings per share for the current year.
In related news, VP Frank R. Jimenez sold 500 shares of Raytheon stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total transaction of $90,970.00. Following the sale, the vice president now directly owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Taylor W. Lawrence sold 3,791 shares of Raytheon stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $182.09, for a total value of $690,303.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,120 shares of company stock worth $930,651. 0.19% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC acquired a new stake in Raytheon during the first quarter worth about $111,000. St. Johns Investment Management Company LLC acquired a new stake in Raytheon during the second quarter worth about $113,000. Jacobi Capital Management LLC grew its position in Raytheon by 271.1% during 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 in the last quarter. Tarbox Family Office Inc. grew its position in Raytheon by 1,666.7% during the second quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock worth $128,000 after buying an additional 750 shares in the last quarter. Finally, Arrow Financial Corp grew its position in Raytheon by 23.3% during the first quarter. Arrow Financial Corp now owns 900 shares of the aerospace company’s stock worth $137,000 after buying an additional 170 shares in the last quarter. 73.82% 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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