Raytheon (NYSE:RTN) Downgraded by ValuEngine

ValuEngine downgraded shares of Raytheon (NYSE:RTN) from a hold rating to a sell rating in a research report report published on Tuesday, ValuEngine reports.

Several other research analysts also recently weighed in on RTN. Sanford C. Bernstein upped their target price on shares of Raytheon from $212.00 to $225.00 and gave the stock a positive rating in a report on Friday, October 25th. UBS Group set a $230.00 price target on Raytheon and gave the stock a hold rating in a research note on Friday, October 25th. JPMorgan Chase & Co. set a $240.00 price target on Raytheon and gave the company a buy rating in a report on Friday, October 25th. Barclays set a $215.00 price objective on Raytheon and gave the company a hold rating in a research report on Tuesday, October 8th. Finally, Wolfe Research set a $221.00 price objective on Raytheon and gave the stock a buy rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $217.76.

NYSE:RTN traded up $2.32 during trading hours on Tuesday, hitting $217.21. 946,453 shares of the stock traded hands, compared to its average volume of 1,840,958. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 0.38. Raytheon has a 1 year low of $144.27 and a 1 year high of $220.03. The company has a market cap of $60.26 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.72 and a beta of 0.88. The stock has a 50 day moving average price of $213.53 and a 200 day moving average price of $191.69.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.86 by $0.22. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.29 billion. Raytheon had a net margin of 11.47% and a return on equity of 27.23%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.25 earnings per share. Equities analysts forecast that Raytheon will post 11.86 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Wednesday, January 8th will be issued a $0.9425 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $3.77 dividend on an annualized basis and a yield of 1.74%. Raytheon’s dividend payout ratio is currently 35.53%.

In other news, VP Randa G. Newsome sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $199.10, for a total transaction of $856,130.00. Following the completion of the transaction, the vice president now owns 18,281 shares in the company, valued at $3,639,747.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Frank R. Jimenez sold 2,500 shares of Raytheon stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $196.76, for a total value of $491,900.00. Following the completion of the sale, the vice president now directly owns 25,504 shares in the company, valued at $5,018,167.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,215 shares of company stock worth $2,038,770. Corporate insiders own 0.18% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Morgan Stanley boosted its position in shares of Raytheon by 5.5% during the 2nd quarter. Morgan Stanley now owns 3,432,646 shares of the aerospace company’s stock valued at $596,867,000 after acquiring an additional 178,321 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Raytheon by 11,865.9% during the second quarter. Nuveen Asset Management LLC now owns 1,593,864 shares of the aerospace company’s stock valued at $277,141,000 after purchasing an additional 1,580,544 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Raytheon by 16.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,509,939 shares of the aerospace company’s stock valued at $262,548,000 after purchasing an additional 212,361 shares during the last quarter. Charles Schwab Investment Advisory Inc. lifted its position in Raytheon by 5.5% during the second quarter. Charles Schwab Investment Advisory Inc. now owns 1,399,452 shares of the aerospace company’s stock valued at $243,337,000 after purchasing an additional 73,207 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Raytheon by 23.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,258,784 shares of the aerospace company’s stock worth $224,138,000 after buying an additional 234,994 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

About Raytheon

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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