Raytheon (NYSE:RTN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage presently has a $205.00 target price on the aerospace company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.57% from the company’s previous close.

According to Zacks, “Raytheon is one of the best-positioned large-cap defense players due to its non-platform centric focus. Due to its wide range of combat-proven defense products, Raytheon continues to receive numerous orders from both Pentagon as well as foreign allies. It has been heavily investing in technological upgrades, which in turn has been significantly boosting its growth trajectory. Lately, the company has prioritized its investments in high energy lasers, high power microwaves, hypersonics, next-generation sensors and cybersecurity. In particular, realizing the fact that Hypersonic systems is the next wave of technology relative to advanced missile systems, Raytheon is executing several activities in the areas of hypersonics and counter-hypersonics. However, factors like tough competition and political uncertainty continue to be major headwind for the company. Its shares also underperformed the industry in the past 12 months.”

A number of other research analysts have also recently issued reports on RTN. ValuEngine raised Raytheon from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. UBS Group lowered Raytheon from a “buy” rating to a “neutral” rating and cut their price target for the company from $220.00 to $200.00 in a report on Wednesday, April 3rd. Argus restated a “buy” rating and issued a $200.00 price target on shares of Raytheon in a report on Friday, February 1st. Alembic Global Advisors upgraded Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price target on the stock in a report on Tuesday, February 5th. Finally, Susquehanna Bancshares began coverage on Raytheon in a report on Thursday, January 10th. They issued a “positive” rating and a $187.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $212.23.

NYSE:RTN opened at $182.11 on Wednesday. Raytheon has a 1 year low of $144.27 and a 1 year high of $229.75. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $51.47 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, January 31st. The aerospace company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.04. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. The firm had revenue of $7.36 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same period in the previous year, the firm earned $2.03 earnings per share. As a group, equities research analysts anticipate that Raytheon will post 11.59 earnings per share for the current year.

In related news, VP Michael J. Wood sold 427 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $177.58, for a total transaction of $75,826.66. Following the sale, the vice president now owns 13,165 shares in the company, valued at $2,337,840.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Anthony F. O’brien sold 9,656 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $181.06, for a total value of $1,748,315.36. Following the sale, the vice president now owns 34,057 shares in the company, valued at approximately $6,166,360.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,657 shares of company stock worth $3,940,619. Corporate insiders own 0.19% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cibc Bank USA grew its position in shares of Raytheon by 1.7% in the fourth quarter. Cibc Bank USA now owns 3,733 shares of the aerospace company’s stock valued at $572,000 after purchasing an additional 64 shares during the last quarter. Coastline Trust Co grew its position in Raytheon by 0.6% during the fourth quarter. Coastline Trust Co now owns 10,850 shares of the aerospace company’s stock worth $1,664,000 after buying an additional 65 shares in the last quarter. Lodestar Investment Counsel LLC IL grew its position in Raytheon by 3.1% during the first quarter. Lodestar Investment Counsel LLC IL now owns 2,148 shares of the aerospace company’s stock worth $391,000 after buying an additional 65 shares in the last quarter. CX Institutional grew its position in Raytheon by 23.4% during the first quarter. CX Institutional now owns 348 shares of the aerospace company’s stock worth $63,000 after buying an additional 66 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in Raytheon by 42.9% during the fourth quarter. Proficio Capital Partners LLC now owns 223 shares of the aerospace company’s stock worth $34,000 after buying an additional 67 shares in the last quarter. Institutional investors and hedge funds own 75.81% of the company’s stock.

About Raytheon

Raytheon Company develops integrated products, services, and solutions for defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

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