Raytheon (NYSE:RTN) Stock Price Up 8.2%

Raytheon (NYSE:RTN) shares rose 8.2% 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.

RTN has been the topic of a number of recent analyst reports. Alembic Global Advisors downgraded shares of Raytheon from an “overweight” rating to a “neutral” rating and set a $244.00 target price on the stock. in a report on Wednesday, February 19th. Citigroup downgraded shares of 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. Cfra boosted their target price on shares of Raytheon from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wolfe Research downgraded shares of Raytheon from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 28th. Finally, Credit Suisse Group boosted their target price on shares of Raytheon from $235.00 to $257.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Raytheon presently has an average rating of “Buy” and an average target price of $229.60.

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.34 and a quick ratio of 1.27. The stock’s 50-day simple moving average is $187.05 and its 200 day simple moving average is $206.56. The stock 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 released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $3.16 EPS for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.05. Raytheon had a net margin of 11.46% and a return on equity of 27.22%. The firm had revenue of $7.84 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same period in the previous year, the business posted $2.93 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, analysts expect that Raytheon will post 12.51 earnings per share for the current fiscal year.

In other Raytheon news, VP Randa G. Newsome sold 6,806 shares of Raytheon stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $224.12, for a total transaction of $1,525,360.72. Following the completion of the transaction, the vice president now directly owns 17,396 shares of the company’s stock, valued at $3,898,791.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen J. Hadley sold 1,900 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $232.00, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,921 shares of company stock valued at $2,686,707. Company insiders own 0.18% of the company’s stock.

Several institutional investors have recently made changes to their positions in RTN. Norges Bank bought a new stake in shares of Raytheon in the fourth quarter valued at about $622,230,000. 1832 Asset Management L.P. boosted its position in shares of Raytheon by 751.6% in the fourth quarter. 1832 Asset Management L.P. now owns 990,400 shares of the aerospace company’s stock valued at $219,309,000 after acquiring an additional 874,095 shares during the period. Johanson Financial Advisors Inc. boosted its position in shares of Raytheon by 21,333.2% in the fourth quarter. Johanson Financial Advisors Inc. now owns 836,539 shares of the aerospace company’s stock valued at $3,807,000 after acquiring an additional 832,636 shares during the period. Third Point LLC bought a new stake in shares of Raytheon in the fourth quarter valued at about $122,000,000. Finally, PointState Capital LP bought a new stake in shares of Raytheon in the third quarter valued at about $85,921,000. 77.34% of the stock is owned by institutional investors.

About Raytheon (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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