Raytheon Co. (RTN) Given Average Recommendation of “Buy” by Brokerages
Shares of Raytheon Co. (NYSE:RTN) have been assigned an average rating of “Buy” from the twenty-two analysts that are currently covering the firm. Four equities research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $150.92.
RTN has been the subject of a number of research analyst reports. Deutsche Bank AG lifted their price target on Raytheon from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Friday, October 28th. Wells Fargo & Co. reiterated a “buy” rating on shares of Raytheon in a research report on Monday, November 14th. Robert W. Baird initiated coverage on Raytheon in a research report on Thursday, October 6th. They set an “outperform” rating and a $170.00 price target for the company. Citigroup Inc. raised their price objective on Raytheon from $145.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Finally, Zacks Investment Research cut Raytheon from a “hold” rating to a “sell” rating in a report on Monday, October 17th.
Several large investors have recently added to or reduced their stakes in the stock. Tradewinds Capital Management LLC raised its stake in Raytheon by 11.6% in the third quarter. Tradewinds Capital Management LLC now owns 759 shares of the company’s stock valued at $103,000 after buying an additional 79 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Raytheon during the third quarter valued at $105,000. QCI Asset Management Inc. NY raised its stake in Raytheon by 4.5% in the third quarter. QCI Asset Management Inc. NY now owns 810 shares of the company’s stock valued at $110,000 after buying an additional 35 shares in the last quarter. CWM LLC raised its stake in Raytheon by 14.0% in the third quarter. CWM LLC now owns 814 shares of the company’s stock valued at $111,000 after buying an additional 100 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake in Raytheon by 141.6% in the third quarter. Penserra Capital Management LLC now owns 865 shares of the company’s stock valued at $117,000 after buying an additional 507 shares in the last quarter. Institutional investors own 78.94% of the company’s stock.
Shares of Raytheon (NYSE:RTN) traded up 0.30% on Friday, reaching $148.33. The company’s stock had a trading volume of 476,518 shares. Raytheon has a 12 month low of $115.73 and a 12 month high of $152.58. The firm’s 50-day moving average price is $140.07 and its 200-day moving average price is $137.62. The stock has a market cap of $43.56 billion, a P/E ratio of 19.81 and a beta of 0.62.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, October 27th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.15. The firm earned $6 billion during the quarter, compared to the consensus estimate of $6.04 billion. Raytheon had a return on equity of 19.98% and a net margin of 9.26%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $1.47 EPS. On average, analysts forecast that Raytheon will post $7.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 2nd. Investors of record on Wednesday, January 4th will be given a dividend of $0.7325 per share. The ex-dividend date is Friday, December 30th. This represents a $2.93 annualized dividend and a dividend yield of 1.98%. Raytheon’s dividend payout ratio is presently 39.12%.
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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