Raytheon (NYSE:RTN) Trading Up 8.2%

Raytheon (NYSE:RTN)’s share price was up 8.2% during mid-day trading on Wednesday . The company traded as high as $134.92 and last traded at $144.50, approximately 188,891 shares changed hands during trading. A decline of 96% from the average daily volume of 4,827,745 shares. The stock had previously closed at $133.57.

A number of equities analysts have issued reports on RTN shares. Bank of America increased their price target on Raytheon from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Wolfe Research cut Raytheon from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 28th. Citigroup cut Raytheon from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 19th. They noted that the move was a valuation call. UBS Group increased their price target on Raytheon from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Finally, ValuEngine upgraded Raytheon from a “sell” rating to a “hold” rating in a report on Monday, March 9th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $229.60.

The business has a fifty day moving average of $187.05 and a 200-day moving average of $206.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.27 and a current ratio of 1.34. The company has a market capitalization of $37.19 billion, a P/E ratio of 13.01, a PEG ratio of 1.38 and a beta of 0.93.

Raytheon (NYSE:RTN) last issued its earnings results on Thursday, January 30th. The aerospace company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.05. Raytheon had a return on equity of 27.22% and a net margin of 11.46%. The company had revenue of $7.84 billion for the quarter, compared to analysts’ expectations of $8 billion. During the same period last year, the business earned $2.93 EPS. Raytheon’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Raytheon will post 12.51 EPS for the current year.

In related news, Director Stephen J. Hadley sold 1,900 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $232.00, for a total value of $440,800.00. Following the completion of the sale, the director now directly owns 8,750 shares of the company’s stock, valued at approximately $2,030,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Michael J. Wood sold 3,215 shares of the stock in a transaction on Tuesday, February 18th. The shares were 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 of the company’s stock, valued at $3,101,372.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,921 shares of company stock worth $2,686,707. 0.18% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RTN. TFG Advisers LLC purchased a new stake in Raytheon in the 4th quarter valued at $25,000. PSI Advisors LLC purchased a new stake in shares of Raytheon during the 4th quarter valued at $30,000. Sailer Financial LLC purchased a new stake in shares of Raytheon during the 4th quarter valued at $31,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Raytheon during the 4th quarter valued at $37,000. Finally, NewSquare Capital LLC purchased a new stake in shares of Raytheon during the 4th quarter valued at $42,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Raytheon Company Profile (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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