JPMorgan Chase & Co. upgraded shares of Raytheon (NYSE:RTN) from a neutral rating to an overweight rating in a report released on Monday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $230.00 target price on the aerospace company’s stock, up from their previous target price of $225.00.
Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Raytheon from a hold rating to a sell rating in a research note on Friday, June 28th. Bank of America reaffirmed a buy rating and set a $265.00 target price (up previously from $224.00) on shares of Raytheon in a research report on Friday, July 26th. Vertical Research cut Raytheon from a buy rating to a hold rating and cut their target price for the company from $216.00 to $203.00 in a research report on Tuesday, June 11th. Stifel Nicolaus lifted their target price on Raytheon from $205.00 to $218.00 and gave the company a buy rating in a research report on Monday, June 10th. Finally, UBS Group lifted their target price on Raytheon from $205.00 to $215.00 and gave the company a neutral rating in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $212.00.
Shares of Raytheon stock opened at $199.33 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 1.46. Raytheon has a 52 week low of $144.27 and a 52 week high of $209.18. The stock has a 50 day moving average price of $185.99 and a two-hundred day moving average price of $181.41. The stock has a market capitalization of $55.78 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 1.63 and a beta of 0.85.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, beating the Zacks’ consensus estimate of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The firm had revenue of $7.16 billion during the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter last year, the firm posted $2.45 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts forecast that Raytheon will post 11.73 EPS for the current year.
In related news, VP Frank R. Jimenez sold 1,054 shares of Raytheon stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total transaction of $189,720.00. Following the sale, the vice president now directly owns 25,863 shares in the company, valued at $4,655,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Randa G. Newsome sold 10,000 shares of Raytheon stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total value of $1,850,100.00. Following the sale, the vice president now owns 20,396 shares in the company, valued at $3,773,463.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,969 shares of company stock worth $2,622,820. 0.18% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Farmers National Bank bought a new stake in Raytheon during the first quarter worth $27,000. Semmax Financial Advisors Inc. lifted its holdings in Raytheon by 148.6% during the first quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 104 shares during the period. Weaver Consulting Group bought a new stake in Raytheon during the first quarter worth $36,000. Berman Capital Advisors LLC lifted its holdings in Raytheon by 74.6% during the second quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock worth $38,000 after acquiring an additional 94 shares during the period. Finally, Bremer Bank National Association bought a new stake in Raytheon during the first quarter worth $39,000. Institutional investors and hedge funds own 72.96% of the company’s stock.
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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