Raytheon (NYSE:RTN) Given a $215.00 Price Target at Barclays

Barclays set a $215.00 price objective on Raytheon (NYSE:RTN) in a research report sent to investors on Tuesday morning, TipRanks reports. The brokerage currently has a hold rating on the aerospace company’s stock.

Other equities analysts have also recently issued research reports about the company. Vertical Research cut Raytheon from a buy rating to a hold rating and dropped their price target for the company from $216.00 to $203.00 in a research report on Tuesday, June 11th. Buckingham Research cut Raytheon from a buy rating to a neutral rating and dropped their price target for the company from $265.00 to $195.00 in a research report on Monday, June 24th. ValuEngine upgraded Raytheon from a sell rating to a hold rating in a research report on Wednesday, October 2nd. UBS Group boosted their price target on Raytheon from $205.00 to $215.00 and gave the company a neutral rating in a research report on Friday, September 13th. Finally, Stifel Nicolaus boosted their price target on Raytheon from $205.00 to $218.00 and gave the company a buy rating in a research report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $214.11.

Raytheon stock opened at $198.72 on Tuesday. Raytheon has a fifty-two week low of $144.27 and a fifty-two week high of $205.28. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 1.46. The company has a market capitalization of $55.73 billion, a P/E ratio of 18.73, a PEG ratio of 1.53 and a beta of 0.87. The stock has a 50-day simple moving average of $191.92 and a 200-day simple moving average of $183.01.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.61 by $0.31. The business had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.02 billion. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.45 EPS. As a group, analysts forecast that Raytheon will post 11.73 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, October 8th. Raytheon’s payout ratio is 35.53%.

In other Raytheon news, VP Randa G. Newsome sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the transaction, the vice president now owns 20,396 shares in the company, valued at approximately $3,773,463.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Wesley D. Kremer sold 2,915 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $583,000.00. Following the transaction, the vice president now owns 26,260 shares in the company, valued at approximately $5,252,000. The disclosure for this sale can be found here. Insiders have sold a total of 16,469 shares of company stock worth $3,114,720 in the last quarter. 0.18% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RTN. Nuveen Asset Management LLC increased its position in Raytheon by 11,865.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,593,864 shares of the aerospace company’s stock worth $277,141,000 after purchasing an additional 1,580,544 shares during the period. Thoroughbred Financial Services LLC increased its position in Raytheon by 17,408.1% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,107,038 shares of the aerospace company’s stock worth $110,704,000 after purchasing an additional 1,100,715 shares during the period. Point72 Asset Management L.P. increased its position in Raytheon by 1,380.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 876,706 shares of the aerospace company’s stock worth $152,442,000 after purchasing an additional 817,506 shares during the period. Balyasny Asset Management LLC increased its position in Raytheon by 2,697.2% during the 2nd quarter. Balyasny Asset Management LLC now owns 522,384 shares of the aerospace company’s stock worth $90,832,000 after purchasing an additional 503,709 shares during the period. Finally, Viking Global Investors LP acquired a new position in Raytheon during the 2nd quarter worth approximately $78,321,000. Institutional investors own 72.96% of the company’s stock.

Raytheon Company Profile

Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

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Analyst Recommendations for Raytheon (NYSE:RTN)

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