Argus reaffirmed their buy rating on shares of Raytheon Company (NYSE:RTN) in a report released on Friday, August 4th. The brokerage currently has a $195.00 target price on the aerospace company’s stock, up from their previous target price of $175.00.
Several other equities analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Raytheon from a buy rating to a hold rating in a report on Monday, May 29th. Jefferies Group LLC restated a buy rating and issued a $172.00 target price on shares of Raytheon in a report on Tuesday, May 23rd. Sanford C. Bernstein restated an outperform rating and issued a $183.00 target price (up previously from $180.00) on shares of Raytheon in a report on Sunday, July 30th. Stifel Nicolaus reiterated a buy rating and set a $185.00 price objective (up previously from $175.00) on shares of Raytheon in a report on Sunday, July 30th. Finally, BidaskClub upgraded shares of Raytheon from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $183.01.
Raytheon (RTN) opened at 177.25 on Friday. The stock has a 50 day moving average price of $170.47 and a 200-day moving average price of $159.43. The firm has a market cap of $51.45 billion, a P/E ratio of 24.48 and a beta of 0.59. Raytheon has a 1-year low of $132.89 and a 1-year high of $181.05.
Raytheon (NYSE:RTN) last issued its quarterly earnings results 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 company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. Raytheon’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.38 earnings per share. Equities research analysts forecast that Raytheon will post $7.59 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th were given a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Friday, June 30th. Raytheon’s dividend payout ratio is currently 43.94%.
In other news, Director Vernon E. Clark sold 829 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the transaction, the director now directly owns 7,588 shares of the company’s stock, valued at approximately $1,367,281.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Thomas A. Kennedy sold 10,703 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.05, for a total transaction of $1,734,421.15. Following the transaction, the chairman now directly owns 61,671 shares of the company’s stock, valued at $9,993,785.55. The disclosure for this sale can be found here. Insiders have sold a total of 16,740 shares of company stock valued at $2,730,129 over the last three months. Insiders own 0.19% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after buying an additional 18,551,353 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Raytheon by 13,784.9% in the second quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock worth $241,276,000 after buying an additional 1,483,389 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock worth $3,341,355,000 after buying an additional 989,986 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Raytheon by 55.2% in the second quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock worth $376,037,000 after buying an additional 827,931 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Raytheon by 42.7% in the second quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock worth $294,889,000 after buying an additional 546,398 shares during the last quarter. Institutional investors own 74.72% of the company’s stock.
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.
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