Vetr Inc. Lowers Raytheon Company (RTN) to Hold

Vetr cut shares of Raytheon Company (NYSE:RTN) from a buy rating to a hold rating in a report released on Tuesday morning. The brokerage currently has $187.08 price target on the aerospace company’s stock.

RTN has been the topic of a number of other reports. Stifel Nicolaus raised their price objective on Raytheon from $160.00 to $175.00 and gave the company a buy rating in a research note on Friday, April 28th. BidaskClub raised Raytheon from a buy rating to a strong-buy rating in a research note on Wednesday, July 12th. Argus reissued a buy rating and issued a $195.00 price objective (up from $175.00) on shares of Raytheon in a research note on Friday, August 4th. Zacks Investment Research raised Raytheon from a hold rating to a buy rating and set a $183.00 price objective on the stock in a research note on Tuesday, May 30th. Finally, Jefferies Group LLC reissued a buy rating and issued a $172.00 price objective on shares of Raytheon in a research note on Monday, June 26th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $183.01.

Raytheon (NYSE RTN) opened at 176.90 on Tuesday. The firm has a market cap of $51.34 billion, a P/E ratio of 24.43 and a beta of 0.59. The stock’s 50 day moving average is $170.94 and its 200-day moving average is $159.65. Raytheon has a 1-year low of $132.89 and a 1-year high of $181.05.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.38 EPS. Analysts forecast that Raytheon will post $7.59 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were paid a $0.7975 dividend. This represents a $3.19 annualized dividend and a yield of 1.80%. The ex-dividend date was Friday, June 30th. Raytheon’s dividend payout ratio is 43.94%.

In related news, CAO Michael J. Wood sold 1,442 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $162.98, for a total value of $235,017.16. Following the sale, the chief accounting officer now owns 18,470 shares of the company’s stock, valued at approximately $3,010,240.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Taylor W. Lawrence sold 2,756 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $162.04, for a total value of $446,582.24. Following the completion of the sale, the vice president now directly owns 53,285 shares in the company, valued at approximately $8,634,301.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,740 shares of company stock worth $2,730,129. 0.19% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Banced Corp raised its stake in shares of Raytheon by 6.0% in the first quarter. Banced Corp now owns 2,995 shares of the aerospace company’s stock valued at $457,000 after buying an additional 169 shares in the last quarter. Edge Wealth Management LLC raised its position in Raytheon by 2.6% in the first quarter. Edge Wealth Management LLC now owns 12,028 shares of the aerospace company’s stock worth $1,838,000 after buying an additional 303 shares in the last quarter. Honkamp Krueger Financial Services Inc. raised its position in Raytheon by 1.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 6,953 shares of the aerospace company’s stock worth $1,060,000 after buying an additional 121 shares in the last quarter. Private Bank & Trust Co. raised its position in Raytheon by 3.6% in the first quarter. Private Bank & Trust Co. now owns 5,811 shares of the aerospace company’s stock worth $886,000 after buying an additional 200 shares in the last quarter. Finally, North American Management Corp raised its position in Raytheon by 2.8% in the first quarter. North American Management Corp now owns 34,569 shares of the aerospace company’s stock worth $5,272,000 after buying an additional 935 shares in the last quarter. 74.72% of the stock is currently owned by institutional investors and hedge funds.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Raytheon (NYSE:RTN)

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