Raytheon (NYSE:RTN) – Jefferies Group upped their FY2019 EPS estimates for Raytheon in a research report issued on Monday. Jefferies Group analyst S. Kahyaoglu now anticipates that the aerospace company will post earnings of $9.15 per share for the year, up from their prior estimate of $8.65. Jefferies Group has a “Buy” rating and a $190.00 price target on the stock.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The firm had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same period last year, the company earned $1.79 EPS. Raytheon’s quarterly revenue was up 4.5% compared to the same quarter last year.

A number of other brokerages have also issued reports on RTN. Stifel Nicolaus reissued a “buy” rating and set a $210.00 price target on shares of Raytheon in a research note on Tuesday. Robert W. Baird reaffirmed a “buy” rating and set a $212.00 target price on shares of Raytheon in a research report on Tuesday, October 24th. Royal Bank of Canada reaffirmed a “buy” rating and set a $209.00 target price on shares of Raytheon in a research report on Tuesday, October 10th. ValuEngine raised Raytheon from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Citigroup reaffirmed a “buy” rating and set a $215.00 target price (up from $192.00) on shares of Raytheon in a research report on Monday, October 9th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $202.65.

Shares of Raytheon (NYSE RTN) traded up $1.34 during mid-day trading on Tuesday, hitting $193.70. The company had a trading volume of 1,248,800 shares, compared to its average volume of 1,260,000. Raytheon has a 52-week low of $141.28 and a 52-week high of $194.69. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. The company has a market cap of $56,000.00, a price-to-earnings ratio of 26.07, a P/E/G ratio of 2.39 and a beta of 0.58.

Raytheon declared that its Board of Directors has authorized a stock buyback program on Wednesday, November 15th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd will be given a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Tuesday, January 2nd. Raytheon’s dividend payout ratio (DPR) is presently 42.93%.

In other news, VP Frank R. Jimenez sold 175 shares of Raytheon stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $189.13, for a total value of $33,097.75. Following the transaction, the vice president now directly owns 28,311 shares in the company, valued at approximately $5,354,459.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen J. Hadley sold 800 shares of Raytheon stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $190.27, for a total value of $152,216.00. Following the completion of the transaction, the director now owns 11,360 shares in the company, valued at $2,161,467.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,895 shares of company stock valued at $357,215. 0.19% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in RTN. Signature Estate & Investment Advisors LLC purchased a new position in shares of Raytheon in the 3rd quarter valued at $103,000. Jacobi Capital Management LLC grew its stake in Raytheon by 5.3% during the 2nd quarter. Jacobi Capital Management LLC now owns 797 shares of the aerospace company’s stock worth $132,000 after buying an additional 40 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Raytheon during the 2nd quarter worth $139,000. Invictus RG purchased a new position in Raytheon during the 3rd quarter worth $152,000. Finally, Horan Capital Advisors LLC. purchased a new position in Raytheon during the 3rd quarter worth $168,000. Institutional investors and hedge funds own 73.12% of the company’s stock.

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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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