Raytheon Company (RTN) Given Consensus Rating of “Buy” by Brokerages
Raytheon Company (NYSE:RTN) has been assigned a consensus rating of “Buy” from the eighteen research firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $183.81.
RTN has been the subject of several recent research reports. Vetr raised Raytheon from a “hold” rating to a “buy” rating and set a $167.16 price target for the company in a research note on Monday, May 22nd. BidaskClub raised Raytheon from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Royal Bank Of Canada reissued a “buy” rating and issued a $181.00 price target on shares of Raytheon in a research note on Friday, June 2nd. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $183.00 price target for the company in a research note on Tuesday, May 30th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $172.00 price target on shares of Raytheon in a research note on Tuesday, May 23rd.
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In other Raytheon news, VP Taylor W. Lawrence sold 2,756 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 53,285 shares in the company, valued at $8,634,301.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michael J. Wood sold 1,442 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $162.98, for a total value of $235,017.16. Following the completion of the transaction, the chief accounting officer now owns 18,470 shares in the company, valued at approximately $3,010,240.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,021 shares of company stock worth $3,346,671. Corporate insiders own 0.19% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Lockheed Martin Investment Management Co. purchased a new position in shares of Raytheon during the first quarter valued at about $1,830,000. GHP Investment Advisors Inc. purchased a new position in shares of Raytheon during the first quarter valued at about $204,000. Homrich & Berg raised its position in shares of Raytheon by 20.4% in the first quarter. Homrich & Berg now owns 2,664 shares of the aerospace company’s stock valued at $406,000 after buying an additional 451 shares during the last quarter. United Bank Inc. raised its position in shares of Raytheon by 6.8% in the first quarter. United Bank Inc. now owns 28,264 shares of the aerospace company’s stock valued at $4,310,000 after buying an additional 1,791 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC purchased a new position in shares of Raytheon during the first quarter valued at about $1,014,000. Institutional investors and hedge funds own 73.83% of the company’s stock.
Raytheon (NYSE:RTN) opened at 181.38 on Friday. The company has a market cap of $52.65 billion, a PE ratio of 25.05 and a beta of 0.59. Raytheon has a one year low of $132.89 and a one year high of $182.49. The firm’s 50-day moving average price is $174.86 and its 200-day moving average price is $161.94.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 earnings per share. On average, equities research analysts forecast that Raytheon will post $7.59 earnings per share for the current fiscal year.
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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