Investors Buy Shares of Raytheon (RTN) on Weakness

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Investors bought shares of Raytheon (NYSE:RTN) on weakness during trading on Tuesday. $92.22 million flowed into the stock on the tick-up and $40.33 million flowed out of the stock on the tick-down, for a money net flow of $51.89 million into the stock. Of all companies tracked, Raytheon had the 12th highest net in-flow for the day. Raytheon traded down ($1.41) for the day and closed at $200.07

A number of research firms have weighed in on RTN. UBS Group began coverage on shares of Raytheon in a research note on Wednesday, August 15th. They set a “buy” rating and a $250.00 target price on the stock. Credit Suisse Group reaffirmed a “neutral” rating and set a $219.00 target price (down previously from $250.00) on shares of Raytheon in a research note on Tuesday, May 22nd. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Stifel Nicolaus decreased their target price on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. Finally, Wolfe Research raised shares of Raytheon from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 8th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $222.23.

The firm has a market capitalization of $57.07 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 1.53 and a beta of 0.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.61.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 26th. The aerospace company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.46. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.51 billion. Raytheon had a net margin of 9.24% and a return on equity of 24.01%. Raytheon’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.98 earnings per share. equities research analysts expect that Raytheon will post 9.93 earnings per share for the current fiscal year.

In related news, CAO Michael J. Wood sold 621 shares of the business’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $212.13, for a total value of $131,732.73. Following the transaction, the chief accounting officer now owns 14,462 shares in the company, valued at $3,067,824.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Taylor W. Lawrence sold 1,241 shares of the business’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $212.14, for a total transaction of $263,265.74. Following the completion of the transaction, the vice president now owns 46,999 shares in the company, valued at approximately $9,970,367.86. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Zweig DiMenna Associates LLC lifted its holdings in Raytheon by 10.0% in the second quarter. Zweig DiMenna Associates LLC now owns 65,880 shares of the aerospace company’s stock valued at $12,727,000 after buying an additional 6,008 shares during the period. Texas Yale Capital Corp. lifted its holdings in Raytheon by 5.0% in the second quarter. Texas Yale Capital Corp. now owns 8,951 shares of the aerospace company’s stock valued at $1,729,000 after buying an additional 425 shares during the period. Aviva PLC raised its holdings in shares of Raytheon by 39.1% during the second quarter. Aviva PLC now owns 364,396 shares of the aerospace company’s stock valued at $70,394,000 after purchasing an additional 102,349 shares during the period. TIAA FSB raised its holdings in shares of Raytheon by 4.8% during the second quarter. TIAA FSB now owns 98,459 shares of the aerospace company’s stock valued at $19,020,000 after purchasing an additional 4,496 shares during the period. Finally, Employees Retirement System of Texas raised its holdings in shares of Raytheon by 7.2% during the first quarter. Employees Retirement System of Texas now owns 111,200 shares of the aerospace company’s stock valued at $23,999,000 after purchasing an additional 7,500 shares during the period. Institutional investors and hedge funds own 73.36% of the company’s stock.

About Raytheon (NYSE:RTN)

Raytheon Company develops integrated products, services, and solutions for 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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