Several other analysts also recently issued reports on the stock. ValuEngine raised shares of Raytheon from a hold rating to a buy rating in a research note on Monday, April 2nd. Morgan Stanley lifted their price target on shares of Raytheon from $224.00 to $245.00 and gave the company an overweight rating in a research note on Friday, February 23rd. Wells Fargo reaffirmed an outperform rating and set a $215.00 price target (up previously from $202.00) on shares of Raytheon in a research note on Tuesday, January 16th. Robert W. Baird reaffirmed a buy rating and set a $237.00 price target on shares of Raytheon in a research note on Friday, January 26th. Finally, Zacks Investment Research raised shares of Raytheon from a hold rating to a buy rating and set a $237.00 price target for the company in a research note on Tuesday, April 3rd. Four research 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 price target of $220.53.
Shares of NYSE RTN opened at $228.06 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.54 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $65,522.59, a price-to-earnings ratio of 29.93, a PEG ratio of 2.14 and a beta of 0.70. Raytheon has a 1 year low of $152.71 and a 1 year high of $228.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Investors of record on Wednesday, April 11th will be issued a dividend of $0.8675 per share. This represents a $3.47 annualized dividend and a yield of 1.52%. This is a positive change from Raytheon’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, April 10th. Raytheon’s dividend payout ratio (DPR) is presently 45.54%.
In related news, VP Michael J. Wood sold 1,974 shares of Raytheon stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $208.07, for a total transaction of $410,730.18. Following the transaction, the vice president now directly owns 17,467 shares of the company’s stock, valued at $3,634,358.69. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Michael J. Wood sold 3,989 shares of Raytheon stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $215.88, for a total transaction of $861,145.32. Following the transaction, the chief accounting officer now directly owns 22,260 shares in the company, valued at $4,805,488.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,866 shares of company stock worth $22,730,714. 0.19% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Stonehearth Capital Management LLC purchased a new position in Raytheon during the fourth quarter valued at approximately $103,000. Rowland & Co. Investment Counsel ADV purchased a new position in Raytheon in the fourth quarter worth $106,000. Global Trust Asset Management LLC purchased a new position in Raytheon in the fourth quarter worth $136,000. Certified Advisory Corp purchased a new position in Raytheon in the fourth quarter worth $174,000. Finally, Risk Paradigm Group LLC grew its holdings in Raytheon by 120.9% in the fourth quarter. Risk Paradigm Group LLC now owns 963 shares of the aerospace company’s stock worth $181,000 after purchasing an additional 527 shares during the last quarter. 73.53% of the stock is currently owned by institutional investors.
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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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