Raytheon Company (RTN) Receives $184.79 Consensus PT from Brokerages
Shares of Raytheon Company (NYSE:RTN) have received an average recommendation of “Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $189.65.
A number of analysts have recently commented on RTN shares. Robert W. Baird restated an “outperform” rating and set a $212.00 price objective (up from $170.00) on shares of Raytheon in a report on Thursday, August 10th. Vetr downgraded Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price target for the company. in a report on Wednesday, August 30th. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a report on Monday, September 18th. BidaskClub downgraded Raytheon from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Buckingham Research increased their price target on Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report on Friday, August 11th.
In other news, VP Frank R. Jimenez sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total transaction of $90,970.00. Following the completion of the sale, the vice president now directly owns 29,292 shares in the company, valued at $5,329,386.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert E. Beauchamp bought 1,162 shares of the stock in a transaction dated Monday, July 31st. The shares were acquired at an average price of $171.99 per share, with a total value of $199,852.38. Following the completion of the purchase, the director now directly owns 4,303 shares of the company’s stock, valued at $740,072.97. The disclosure for this purchase can be found here. Insiders have sold 5,120 shares of company stock valued at $930,651 over the last 90 days. Insiders own 0.19% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC bought a new position in shares of Raytheon during the first quarter worth about $111,000. St. Johns Investment Management Company LLC bought a new position in shares of Raytheon during the second quarter worth about $113,000. Jacobi Capital Management LLC lifted its position in shares of Raytheon by 271.1% during the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after purchasing an additional 553 shares during the last quarter. Tarbox Family Office Inc. lifted its position in shares of Raytheon by 1,666.7% during the second quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock worth $128,000 after purchasing an additional 750 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of Raytheon during the second quarter worth about $139,000. Institutional investors own 73.75% of the company’s stock.
Shares of Raytheon (NYSE RTN) traded up 1.39% during midday trading on Wednesday, hitting $186.58. The stock had a trading volume of 1,713,513 shares. The stock has a market cap of $54.15 billion, a P/E ratio of 25.77 and a beta of 0.58. Raytheon has a 12-month low of $132.89 and a 12-month high of $186.70. The stock has a 50-day moving average price of $179.06 and a 200-day moving average price of $164.34.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. The business had revenue of $6.28 billion during 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%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.38 EPS. Equities analysts forecast that Raytheon will post $7.59 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be paid a dividend of $0.7975 per share. The ex-dividend date of this dividend is Wednesday, October 11th. This represents a $3.19 annualized dividend and a dividend yield of 1.71%. Raytheon’s dividend payout ratio is presently 43.94%.
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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