Raytheon Company (NYSE:RTN) Rating Increased to Buy at Vetr Inc.

Raytheon Company (NYSE:RTN) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage currently has a $178.87 price objective on the aerospace company’s stock. Vetr‘s target price would indicate a potential upside of 6.50% from the company’s current price.

A number of other research firms have also recently commented on RTN. Jefferies Group LLC raised their price target on Raytheon from $163.00 to $172.00 and gave the company a “buy” rating in a report on Monday, March 20th. Royal Bank Of Canada reissued a “buy” rating and set a $180.00 price target on shares of Raytheon in a report on Friday, March 24th. Credit Suisse Group reissued a “buy” rating and set a $170.00 price target on shares of Raytheon in a report on Friday, March 31st. Cowen and Company reissued a “buy” rating and set a $170.00 price target on shares of Raytheon in a report on Monday, April 10th. Finally, Stifel Nicolaus raised their price target on Raytheon from $160.00 to $175.00 and gave the company a “buy” rating in a report on Friday, April 28th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $168.45.

Raytheon (NYSE RTN) opened at 167.96 on Monday. The stock has a 50 day moving average price of $161.46 and a 200 day moving average price of $153.27. Raytheon has a 12 month low of $132.89 and a 12 month high of $168.92. The stock has a market capitalization of $48.89 billion, a PE ratio of 21.64 and a beta of 0.58.

Raytheon (NYSE:RTN) last announced its earnings results on Thursday, April 27th. The aerospace company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.12. Raytheon had a return on equity of 20.45% and a net margin of 9.41%. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same period last year, the firm earned $1.43 EPS. Raytheon’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that Raytheon will post $7.48 earnings per share for the current fiscal year.

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In other news, Chairman Thomas A. Kennedy sold 10,703 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $162.05, for a total transaction of $1,734,421.15. Following the completion of the transaction, the chairman now owns 61,671 shares in the company, valued at $9,993,785.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Michael J. Wood sold 1,442 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $162.98, for a total value of $235,017.16. Following the transaction, the chief accounting officer now owns 18,470 shares of the company’s stock, valued at approximately $3,010,240.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,911 shares of company stock valued at $2,580,752. Company insiders own 0.19% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of RTN. Financial Architects Inc raised its position in Raytheon by 0.5% in the first quarter. Financial Architects Inc now owns 1,305 shares of the aerospace company’s stock valued at $199,000 after buying an additional 7 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in Raytheon by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the aerospace company’s stock valued at $173,000 after buying an additional 7 shares in the last quarter. Cordasco Financial Network raised its position in Raytheon by 0.5% in the first quarter. Cordasco Financial Network now owns 2,110 shares of the aerospace company’s stock valued at $322,000 after buying an additional 10 shares in the last quarter. HM Capital Management LLC raised its position in Raytheon by 0.5% in the first quarter. HM Capital Management LLC now owns 2,015 shares of the aerospace company’s stock valued at $307,000 after buying an additional 10 shares in the last quarter. Finally, Founders Capital Management LLC raised its position in Raytheon by 0.5% in the first quarter. Founders Capital Management LLC now owns 2,327 shares of the aerospace company’s stock valued at $355,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 74.75% of the company’s stock.

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.

Analyst Recommendations for Raytheon (NYSE:RTN)

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