Raytheon Company (NYSE:RTN) Given “Outperform” Rating at Robert W. Baird
Raytheon Company (NYSE:RTN)‘s stock had its “outperform” rating reaffirmed by equities researchers at Robert W. Baird in a research note issued on Thursday, The Fly reports. They currently have a $212.00 price objective on the aerospace company’s stock, up from their prior price objective of $170.00. Robert W. Baird’s price target would indicate a potential upside of 18.24% from the stock’s previous close.
A number of other equities analysts also recently commented on RTN. Stifel Nicolaus lifted their target price on shares of Raytheon from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Deutsche Bank AG lifted their target price on shares of Raytheon from $156.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Monday, May 1st. Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.27 target price on the stock. in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $172.00 target price on shares of Raytheon in a research note on Tuesday, May 23rd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Raytheon has a consensus rating of “Buy” and an average target price of $180.12.
Raytheon (RTN) opened at 179.30 on Thursday. The company’s 50-day moving average is $167.67 and its 200 day moving average is $158.13. Raytheon has a one year low of $132.89 and a one year high of $179.59. The company has a market capitalization of $52.04 billion, a P/E ratio of 24.77 and a beta of 0.59.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. Raytheon’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Raytheon will post $7.59 earnings per share for the current year.
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In related news, Chairman Thomas A. Kennedy sold 10,703 shares of Raytheon stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.05, for a total value of $1,734,421.15. Following the completion of the transaction, the chairman now owns 61,671 shares in the company, valued at $9,993,785.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael J. Wood sold 1,442 shares of Raytheon stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.98, for a total transaction of $235,017.16. Following the completion of the transaction, the chief accounting officer now owns 18,470 shares of the company’s stock, valued at approximately $3,010,240.60. The disclosure for this sale can be found here. Insiders sold 15,911 shares of company stock valued at $2,580,752 in the last 90 days. Company insiders own 0.19% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Crestwood Advisors Group LLC acquired a new position in shares of Raytheon during the first quarter worth $110,000. Oakworth Capital Inc. boosted its position in shares of Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock worth $111,000 after buying an additional 445 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of Raytheon during the first quarter worth $111,000. St. Johns Investment Management Company LLC acquired a new position in shares of Raytheon during the second quarter worth $113,000. Finally, Jacobi Capital Management LLC boosted its position 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 worth $114,000 after buying an additional 553 shares during the period. Hedge funds and other institutional investors own 74.98% of the company’s stock.
Raytheon Company Profile
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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