Raytheon Company (RTN) PT Set at $193.00 by Royal Bank Of Canada
Royal Bank Of Canada set a $193.00 target price on Raytheon Company (NYSE:RTN) in a research note issued to investors on Monday morning. The brokerage currently has a buy rating on the aerospace company’s stock.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Raytheon from a buy rating to a hold rating in a report on Friday, May 19th. Vetr downgraded Raytheon from a buy rating to a hold rating and set a $166.27 price objective on the stock. in a report on Tuesday, May 9th. BidaskClub upgraded Raytheon from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Jefferies Group LLC restated a buy rating and set a $172.00 price objective on shares of Raytheon in a report on Monday, June 26th. Finally, Sanford C. Bernstein restated an outperform rating and set a $183.00 price objective (up from $180.00) on shares of Raytheon in a report on Sunday, July 30th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Raytheon presently has a consensus rating of Buy and a consensus target price of $183.76.
Raytheon (RTN) opened at 182.01 on Monday. The firm’s 50-day moving average price is $174.44 and its 200 day moving average price is $161.73. Raytheon has a 52 week low of $132.89 and a 52 week high of $182.87. The firm has a market cap of $52.83 billion, a P/E ratio of 25.14 and a beta of 0.59.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. Raytheon’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $2.38 EPS. Equities analysts forecast that Raytheon will post $7.59 earnings per share for the current fiscal year.
In other news, VP Taylor W. Lawrence sold 2,756 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $162.04, for a total value of $446,582.24. Following the completion of the sale, the vice president now owns 53,285 shares of the company’s stock, valued at approximately $8,634,301.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Thomas A. Kennedy sold 10,703 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $162.05, for a total value of $1,734,421.15. Following the completion of the sale, the chairman now directly owns 61,671 shares of the company’s stock, valued at approximately $9,993,785.55. The disclosure for this sale can be found here. Insiders sold a total of 15,730 shares of company stock valued at $2,565,398 in the last three months. Insiders own 0.19% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Intl Fcstone Inc. acquired a new stake in Raytheon during the second quarter worth $310,000. M Holdings Securities Inc. acquired a new stake in Raytheon during the second quarter worth $297,000. Lord Abbett & CO. LLC boosted its stake in Raytheon by 1.5% in the second quarter. Lord Abbett & CO. LLC now owns 525,000 shares of the aerospace company’s stock worth $84,777,000 after buying an additional 7,600 shares during the last quarter. United Bank VA boosted its stake in Raytheon by 8.0% in the second quarter. United Bank VA now owns 24,705 shares of the aerospace company’s stock worth $3,990,000 after buying an additional 1,833 shares during the last quarter. Finally, WFG Advisors LP boosted its stake in Raytheon by 4.4% in the second quarter. WFG Advisors LP now owns 3,924 shares of the aerospace company’s stock worth $634,000 after buying an additional 167 shares during the last quarter. 73.83% of the stock is owned by hedge funds and other institutional investors.
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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