Raytheon (RTN) Given Average Recommendation of “Buy” by Analysts

Raytheon (NYSE:RTN) has earned a consensus recommendation of “Buy” from the nineteen analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $213.94.

A number of brokerages have recently weighed in on RTN. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Morgan Stanley raised their price objective on shares of Raytheon from $224.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Cowen reissued a “buy” rating and set a $215.00 price objective on shares of Raytheon in a research note on Friday, February 9th. Sanford C. Bernstein raised their price objective on shares of Raytheon from $231.00 to $255.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Robert W. Baird reissued a “buy” rating and set a $237.00 price objective on shares of Raytheon in a research note on Friday, January 26th.

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RTN stock opened at $213.05 on Wednesday. Raytheon has a 1-year low of $148.65 and a 1-year high of $222.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.54 and a quick ratio of 1.46. The stock has a market cap of $60,609.34, a PE ratio of 30.65, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71.

Raytheon (NYSE:RTN) last issued its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.01. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period last year, the company posted $1.84 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. equities research analysts anticipate that Raytheon will post 9.66 EPS for the current year.

In related news, VP Frank R. Jimenez sold 175 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $189.13, for a total transaction of $33,097.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Anthony F. O’brien sold 10,503 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $214.17, for a total transaction of $2,249,427.51. Following the sale, the chief financial officer now owns 35,328 shares in the company, valued at approximately $7,566,197.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,400 shares of company stock worth $17,052,714. 0.19% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in RTN. BlackRock Inc. boosted its holdings in shares of Raytheon by 6.2% in the 4th quarter. BlackRock Inc. now owns 21,240,939 shares of the aerospace company’s stock valued at $3,990,111,000 after purchasing an additional 1,237,648 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Raytheon by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 4,182,034 shares of the aerospace company’s stock valued at $785,594,000 after purchasing an additional 99,090 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Raytheon by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 3,486,232 shares of the aerospace company’s stock valued at $653,684,000 after purchasing an additional 110,397 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Raytheon by 6.2% in the 4th quarter. Franklin Resources Inc. now owns 2,851,144 shares of the aerospace company’s stock valued at $535,605,000 after purchasing an additional 166,467 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Raytheon by 8.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,705,163 shares of the aerospace company’s stock valued at $508,166,000 after purchasing an additional 203,076 shares during the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.

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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.

Analyst Recommendations for Raytheon (NYSE:RTN)

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