Raytheon’s (NYSE:RTN) “Buy” Rating Reiterated at Argus

Argus restated their buy rating on shares of Raytheon Company (NYSE:RTN) in a research note published on Friday morning. They currently have a $195.00 price objective on the aerospace company’s stock, up from their previous price objective of $175.00.

RTN has been the topic of several other research reports. Stifel Nicolaus raised their target price on Raytheon from $160.00 to $175.00 and gave the company a buy rating in a research report on Friday, April 28th. BidaskClub upgraded Raytheon from a buy rating to a strong-buy rating in a research report on Wednesday, July 12th. Vetr downgraded Raytheon from a buy rating to a hold rating and set a $166.44 target price on the stock. in a research report on Tuesday, May 23rd. Zacks Investment Research upgraded Raytheon from a hold rating to a buy rating and set a $183.00 target price on the stock in a research report on Tuesday, May 30th. Finally, Jefferies Group LLC restated a buy rating and issued a $172.00 target price on shares of Raytheon in a research report on Monday, June 26th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $176.56.

Raytheon (NYSE RTN) traded down 0.194% during mid-day trading on Friday, reaching $173.533. The company’s stock had a trading volume of 802,704 shares. The firm’s 50 day moving average is $165.60 and its 200-day moving average is $157.06. The company has a market cap of $50.37 billion, a PE ratio of 23.969 and a beta of 0.59. Raytheon has a 12-month low of $132.89 and a 12-month high of $174.19.

Raytheon (NYSE:RTN) last released its 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 business 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%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.38 earnings per share. Equities analysts anticipate that Raytheon will post $7.58 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th were paid a dividend of $0.7975 per share. The ex-dividend date was Friday, June 30th. This represents a $3.19 annualized dividend and a yield of 1.83%. Raytheon’s dividend payout ratio (DPR) is 43.94%.

In other Raytheon news, Director Robert E. Beauchamp bought 1,162 shares of the business’s stock in a transaction on 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 completion of the purchase, the director now directly owns 4,303 shares in the company, valued at $740,072.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Wesley D. Kremer sold 1,010 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total value of $164,731.00. Following the sale, the vice president now directly owns 23,136 shares of the company’s stock, valued at approximately $3,773,481.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,911 shares of company stock valued at $2,580,752. 0.19% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of RTN. Lockheed Martin Investment Management Co. acquired a new stake in Raytheon during the first quarter valued at about $1,830,000. James Investment Research Inc. boosted its stake in Raytheon by 0.6% in the first quarter. James Investment Research Inc. now owns 68,346 shares of the aerospace company’s stock valued at $10,422,000 after buying an additional 381 shares during the period. GHP Investment Advisors Inc. acquired a new stake in Raytheon during the first quarter valued at about $204,000. Capstone Asset Management Co. boosted its stake in Raytheon by 7.7% in the first quarter. Capstone Asset Management Co. now owns 72,253 shares of the aerospace company’s stock valued at $11,019,000 after buying an additional 5,179 shares during the period. Finally, Banced Corp boosted its stake in Raytheon by 6.0% in the first quarter. Banced Corp now owns 2,995 shares of the aerospace company’s stock valued at $457,000 after buying an additional 169 shares during the period. 74.98% of the stock is owned by institutional investors.

About Raytheon

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.