Raytheon Co. (RTN) Now Covered by Analysts at Robert W. Baird
Several other analysts have also recently commented on RTN. Jefferies Group lifted their price target on Raytheon from $145.00 to $158.00 and gave the company a buy rating in a report on Friday, July 29th. Credit Suisse Group AG restated a buy rating and issued a $151.00 price target on shares of Raytheon in a report on Friday, July 29th. Zacks Investment Research upgraded Raytheon from a hold rating to a buy rating and set a $151.00 price target for the company in a report on Monday, July 4th. JPMorgan Chase & Co. set a $145.00 target price on Raytheon and gave the stock a buy rating in a report on Friday, July 29th. Finally, Argus reiterated a buy rating and set a $161.00 target price on shares of Raytheon in a report on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $174.67.
Raytheon (NYSE:RTN) traded down 1.05% during midday trading on Thursday, hitting $136.80. The stock had a trading volume of 743,243 shares. Raytheon has a 52 week low of $109.10 and a 52 week high of $143.39. The firm has a market cap of $40.37 billion, a P/E ratio of 19.12 and a beta of 0.64. The stock has a 50-day moving average of $139.10 and a 200-day moving average of $134.09.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 28th. The company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.74 by $0.64. The company earned $6 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Raytheon had a return on equity of 19.26% and a net margin of 9.02%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS. Analysts forecast that Raytheon will post $7.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Wednesday, October 5th will be issued a $0.7325 dividend. This represents a $2.93 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Monday, October 3rd. Raytheon’s dividend payout ratio (DPR) is currently 40.86%.
In other news, Director Vernon E. Clark sold 2,540 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $141.01, for a total value of $358,165.40. Following the sale, the director now directly owns 7,246 shares of the company’s stock, valued at approximately $1,021,758.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Boston Partners increased its stake in Raytheon by 40.7% in the second quarter. Boston Partners now owns 6,598,827 shares of the company’s stock valued at $897,111,000 after buying an additional 1,909,316 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Raytheon by 534.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,194,011 shares of the company’s stock valued at $269,052,000 after buying an additional 1,848,150 shares during the period. Winslow Capital Management LLC acquired a new stake in Raytheon during the second quarter valued at approximately $241,937,000. Emerald Acquisition Ltd. acquired a new stake in Raytheon during the second quarter valued at approximately $131,445,000. Finally, Renaissance Technologies LLC increased its stake in Raytheon by 1,302.8% in the first quarter. Renaissance Technologies LLC now owns 1,015,600 shares of the company’s stock valued at $124,543,000 after buying an additional 943,200 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
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