Raytheon Company (NYSE:RTN) has received an average recommendation of “Buy” from the nineteen research firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $200.32.
Several research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price on the stock. in a research note on Wednesday, August 30th. Citigroup reaffirmed a “buy” rating and issued a $215.00 target price (up previously from $192.00) on shares of Raytheon in a research note on Monday, October 9th. Royal Bank Of Canada set a $193.00 target price on shares of Raytheon and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, September 11th.
Shares of Raytheon (NYSE RTN) opened at $188.07 on Monday. 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 firm has a market cap of $54,370.00, a PE ratio of 24.88, a price-to-earnings-growth ratio of 2.56 and a beta of 0.58. Raytheon has a 1 year low of $137.70 and a 1 year high of $191.36.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. The firm had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.79 EPS. equities research analysts forecast that Raytheon will post 7.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd will be paid a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a yield of 1.70%. The ex-dividend date is Tuesday, January 2nd. Raytheon’s payout ratio is 42.93%.
Raytheon announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 15th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
In other Raytheon news, Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $190.27, for a total transaction of $152,216.00. Following the sale, the director now directly owns 11,360 shares in the company, valued at approximately $2,161,467.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total transaction of $121,725.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,545 shares of company stock worth $291,955 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Hamilton Point Investment Advisors LLC increased its holdings in Raytheon by 1.2% during the first quarter. Hamilton Point Investment Advisors LLC now owns 29,276 shares of the aerospace company’s stock worth $4,465,000 after buying an additional 345 shares during the last quarter. Capital Investment Counsel Inc increased its holdings in Raytheon by 1.1% during the first quarter. Capital Investment Counsel Inc now owns 6,670 shares of the aerospace company’s stock worth $1,017,000 after buying an additional 70 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Raytheon during the first quarter worth $1,377,000. Westwood Holdings Group Inc. increased its holdings in Raytheon by 12.1% during the first quarter. Westwood Holdings Group Inc. now owns 530,546 shares of the aerospace company’s stock worth $80,909,000 after buying an additional 57,300 shares during the last quarter. Finally, Barings LLC increased its holdings in Raytheon by 69.0% during the first quarter. Barings LLC now owns 38,832 shares of the aerospace company’s stock worth $5,922,000 after buying an additional 15,857 shares during the last quarter. Hedge funds and other institutional investors own 73.53% 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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