Raytheon (NYSE:RTN) Stock Price Down 5.9%

Raytheon (NYSE:RTN) fell 5.9% during mid-day trading on Tuesday . The stock traded as low as $201.18 and last traded at $203.41, 3,566,671 shares were traded during mid-day trading. An increase of 83% from the average session volume of 1,950,815 shares. The stock had previously closed at $216.05.

RTN has been the subject of several analyst reports. UBS Group raised their price target on shares of Raytheon from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Alembic Global Advisors lowered shares of Raytheon from an “overweight” rating to a “neutral” rating and set a $244.00 price target on the stock. in a report on Wednesday, February 19th. Credit Suisse Group boosted their price objective on shares of Raytheon from $235.00 to $257.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Bank of America increased their price objective on Raytheon from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, ValuEngine lowered Raytheon from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Raytheon currently has a consensus rating of “Hold” and a consensus price target of $229.60.

The stock’s 50-day moving average price is $227.01 and its 200-day moving average price is $209.83. The company has a current ratio of 1.34, a quick ratio of 1.27 and a debt-to-equity ratio of 0.32. The stock has a market cap of $61.86 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 1.88 and a beta of 0.85.

Raytheon (NYSE:RTN) last announced its earnings results on Thursday, January 30th. The aerospace company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.05. The business had revenue of $7.84 billion during the quarter, compared to the consensus estimate of $8 billion. Raytheon had a net margin of 11.46% and a return on equity of 27.22%. Raytheon’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.93 earnings per share. As a group, analysts predict that Raytheon will post 12.61 earnings per share for the current year.

In other Raytheon news, CAO Michael J. Wood sold 3,215 shares of Raytheon stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $224.12, for a total value of $720,545.80. Following the completion of the sale, the chief accounting officer now directly owns 13,838 shares in the company, valued at $3,101,372.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen J. Hadley sold 1,900 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $232.00, for a total value of $440,800.00. Following the completion of the transaction, the director now directly owns 8,750 shares in the company, valued at $2,030,000. The disclosure for this sale can be found here. Insiders have sold 11,921 shares of company stock worth $2,686,707 in the last ninety days. Insiders own 0.18% of the company’s stock.

Several hedge funds have recently made changes to their positions in RTN. State Street Corp grew its stake in shares of Raytheon by 0.6% in the 4th quarter. State Street Corp now owns 11,737,573 shares of the aerospace company’s stock valued at $2,579,214,000 after buying an additional 65,555 shares during the period. Geode Capital Management LLC raised its stake in Raytheon by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 4,090,735 shares of the aerospace company’s stock worth $896,973,000 after buying an additional 183,628 shares during the period. Franklin Resources Inc. raised its stake in Raytheon by 0.8% during the 4th quarter. Franklin Resources Inc. now owns 3,859,168 shares of the aerospace company’s stock worth $848,012,000 after buying an additional 29,050 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in Raytheon by 7.5% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,831,673 shares of the aerospace company’s stock worth $622,232,000 after acquiring an additional 197,370 shares in the last quarter. Finally, Charles Schwab Investment Advisory Inc. boosted its holdings in Raytheon by 2.4% in the fourth quarter. Charles Schwab Investment Advisory Inc. now owns 1,486,054 shares of the aerospace company’s stock worth $326,546,000 after acquiring an additional 35,094 shares in the last quarter. 76.54% of the stock is owned by institutional investors.

About Raytheon (NYSE:RTN)

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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