Raytheon Company (RTN) Earns “Buy” Rating from Cowen and Company
Cowen and Company reiterated their buy rating on shares of Raytheon Company (NYSE:RTN) in a report published on Thursday morning. They currently have a $203.00 price target on the aerospace company’s stock.
A number of other equities research analysts have also recently commented on the stock. Royal Bank Of Canada restated a buy rating and set a $209.00 target price on shares of Raytheon in a research note on Tuesday, October 10th. Citigroup Inc. restated a buy rating and set a $215.00 target price (up previously from $192.00) on shares of Raytheon in a research note on Monday, October 9th. ValuEngine cut shares of Raytheon from a buy rating to a hold rating in a research note on Monday, October 2nd. Jefferies Group LLC restated a buy rating and set a $190.00 target price on shares of Raytheon in a research note on Friday, September 29th. Finally, Deutsche Bank AG upgraded shares of Raytheon from a hold rating to a buy rating and raised their target price for the stock from $180.00 to $210.00 in a research note on Friday, September 29th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Raytheon presently has a consensus rating of Buy and an average price target of $194.07.
Shares of Raytheon (NYSE RTN) traded up 1.04% during trading on Thursday, reaching $188.90. 1,055,687 shares of the company traded hands. The company’s 50-day moving average price is $185.16 and its 200-day moving average price is $169.64. The company has a market capitalization of $54.83 billion, a P/E ratio of 26.09 and a beta of 0.59. Raytheon has a 52 week low of $132.89 and a 52 week high of $189.64.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. During the same quarter in the prior year, the business earned $2.38 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts forecast that Raytheon will post $7.59 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This piece was first reported by Daily Political and is the property of of Daily Political. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/10/22/raytheon-company-rtn-earns-buy-rating-from-cowen-and-company.html.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be given a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, October 11th. Raytheon’s payout ratio is currently 43.94%.
In other news, VP Frank R. Jimenez sold 500 shares of Raytheon stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total transaction of $90,970.00. Following the sale, the vice president now owns 29,292 shares in the company, valued at $5,329,386.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Taylor W. Lawrence sold 3,791 shares of Raytheon stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total transaction of $690,303.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,770 shares of company stock worth $1,052,376. Company insiders own 0.19% of the company’s stock.
Several hedge funds have recently bought and sold shares of RTN. St. Johns Investment Management Company LLC purchased a new position in shares of Raytheon in the second quarter valued at $113,000. Jacobi Capital Management LLC grew its holdings 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 valued at $114,000 after purchasing an additional 553 shares in the last quarter. Tarbox Family Office Inc. grew its holdings in shares of Raytheon by 1,666.7% in the second quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after purchasing an additional 750 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of Raytheon in the second quarter valued at $139,000. Finally, CWM LLC grew its holdings in shares of Raytheon by 7.4% in the second quarter. CWM LLC now owns 916 shares of the aerospace company’s stock valued at $148,000 after purchasing an additional 63 shares in the last quarter. 73.62% of the stock is owned by hedge funds and other institutional investors.
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.