Raytheon Company (RTN) Upgraded to “Buy” by Deutsche Bank AG
Deutsche Bank AG upgraded shares of Raytheon Company (NYSE:RTN) from a hold rating to a buy rating in a report published on Friday morning. They currently have $210.00 price objective on the aerospace company’s stock, up from their prior price objective of $180.00.
Other research analysts have also recently issued reports about the stock. Stifel Nicolaus reaffirmed a buy rating and set a $185.00 price target (up from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. Sanford C. Bernstein reaffirmed an outperform rating and set a $183.00 price target (up from $180.00) on shares of Raytheon in a research report on Sunday, July 30th. Vetr cut shares of Raytheon from a buy rating to a hold rating and set a $187.08 price target on the stock. in a research report on Tuesday, August 15th. Zacks Investment Research raised shares of Raytheon from a hold rating to a buy rating and set a $205.00 price target on the stock in a research report on Wednesday, September 20th. Finally, BidaskClub raised shares of Raytheon from a buy rating to a strong-buy rating in a research report on Wednesday, July 12th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $189.47.
Raytheon (RTN) traded up 1.39% during midday trading on Friday, hitting $186.58. 1,713,513 shares of the stock were exchanged. Raytheon has a 12-month low of $132.89 and a 12-month high of $186.70. The stock has a market cap of $54.15 billion, a price-to-earnings ratio of 25.77 and a beta of 0.58. The firm has a 50 day moving average of $179.06 and a 200-day moving average of $164.34.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. During the same period last year, the company earned $2.38 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts expect that Raytheon will post $7.59 earnings per share for the current year.
WARNING: This piece was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/09/30/raytheon-company-rtn-upgraded-to-buy-by-deutsche-bank-ag.html.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be issued a $0.7975 dividend. The ex-dividend date is Wednesday, October 11th. This represents a $3.19 annualized dividend and a yield of 1.71%. Raytheon’s dividend payout ratio is presently 43.94%.
In other Raytheon news, Director Robert E. Beauchamp purchased 1,162 shares of the stock in a transaction dated Monday, July 31st. The stock was bought at an average price of $171.99 per share, with a total value of $199,852.38. Following the acquisition, the director now owns 4,303 shares of the company’s stock, valued at $740,072.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vernon E. Clark sold 829 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $180.19, for a total value of $149,377.51. Following the transaction, the director now directly owns 7,588 shares of the company’s stock, valued at approximately $1,367,281.72. The disclosure for this sale can be found here. Insiders sold a total of 5,120 shares of company stock valued at $930,651 over the last ninety days. Insiders own 0.19% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Guardian Life Insurance Co. of America raised its holdings in shares of Raytheon by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the aerospace company’s stock worth $173,000 after buying an additional 7 shares in the last quarter. HM Capital Management LLC raised its holdings in shares of Raytheon by 0.5% during the 2nd quarter. HM Capital Management LLC now owns 2,025 shares of the aerospace company’s stock worth $327,000 after buying an additional 10 shares in the last quarter. Ironwood Investment Management LLC raised its holdings in shares of Raytheon by 0.7% during the 2nd quarter. Ironwood Investment Management LLC now owns 2,475 shares of the aerospace company’s stock worth $400,000 after buying an additional 16 shares in the last quarter. Pineno Levin & Ford Asset Management Inc. raised its holdings in shares of Raytheon by 0.8% during the 2nd quarter. Pineno Levin & Ford Asset Management Inc. now owns 1,903 shares of the aerospace company’s stock worth $307,000 after buying an additional 16 shares in the last quarter. Finally, TCI Wealth Advisors Inc. raised its holdings in shares of Raytheon by 0.8% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,048 shares of the aerospace company’s stock worth $331,000 after buying an additional 17 shares in the last quarter. 73.75% of the stock is owned by 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.
Receive News & Stock Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related stocks with our FREE daily email newsletter.