A number of other equities analysts have also recently issued reports on RTN. Jefferies Group raised their price objective on shares of Raytheon from $145.00 to $158.00 and gave the company a buy rating in a research note on Friday, July 29th. Credit Suisse Group AG reaffirmed a buy rating and issued a $151.00 price objective on shares of Raytheon in a research note on Friday, July 29th. Zacks Investment Research raised shares of Raytheon from a hold rating to a buy rating and set a $151.00 price objective on the stock in a research note on Monday, July 4th. JPMorgan Chase & Co. set a $145.00 price objective on shares of Raytheon and gave the company a buy rating in a research note on Friday, July 29th. Finally, Argus reaffirmed a buy rating and issued a $161.00 price objective on shares of Raytheon in a research note on Wednesday, August 3rd. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Raytheon has an average rating of Buy and a consensus target price of $174.67.
Raytheon (NYSE:RTN) opened at 136.30 on Thursday. Raytheon has a 12-month low of $109.10 and a 12-month high of $143.39. The stock has a market capitalization of $40.22 billion, a PE ratio of 19.05 and a beta of 0.64. The stock’s 50 day moving average is $138.60 and its 200 day moving average is $134.45.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 28th. The company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.64. Raytheon had a net margin of 9.02% and a return on equity of 19.26%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same period last year, the firm earned $1.65 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts forecast that Raytheon will post $7.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Wednesday, October 5th will be paid a $0.7325 dividend. The ex-dividend date is Monday, October 3rd. This represents a $2.93 annualized dividend and a yield of 2.15%. Raytheon’s payout ratio is currently 40.86%.
In other Raytheon news, Director Vernon E. Clark sold 2,540 shares of Raytheon stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $141.01, for a total value of $358,165.40. Following the sale, the director now directly owns 7,246 shares in the company, valued at approximately $1,021,758.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of RTN. Ferguson Wellman Capital Management Inc. increased its position in shares of Raytheon by 6.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 317,893 shares of the company’s stock worth $43,217,000 after buying an additional 19,421 shares during the period. Royal Bank of Canada increased its position in shares of Raytheon by 66.7% in the first quarter. Royal Bank of Canada now owns 1,136,397 shares of the company’s stock worth $139,356,000 after buying an additional 454,613 shares during the period. Artemis Investment Management LLP increased its position in shares of Raytheon by 60.4% in the second quarter. Artemis Investment Management LLP now owns 95,575 shares of the company’s stock worth $12,993,000 after buying an additional 35,975 shares during the period. Gluskin Sheff & Assoc Inc. increased its position in shares of Raytheon by 90.1% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 106,910 shares of the company’s stock worth $14,534,000 after buying an additional 50,679 shares during the period. Finally, Trust Department MB Financial Bank N A increased its position in shares of Raytheon by 16.8% in the second quarter. Trust Department MB Financial Bank N A now owns 2,335 shares of the company’s stock worth $223,000 after buying an additional 335 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
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