Raytheon (RTN) Sets New 1-Year High at $216.11

Shares of Raytheon (NYSE:RTN) hit a new 52-week high during trading on Thursday . The company traded as high as $216.11 and last traded at $215.66, with a volume of 1072310 shares. The stock had previously closed at $212.58.

A number of analysts have commented on RTN shares. Royal Bank of Canada set a $235.00 price objective on Raytheon and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Robert W. Baird reissued a “buy” rating and set a $237.00 price objective on shares of Raytheon in a report on Friday, January 26th. Stifel Nicolaus boosted their price objective on Raytheon from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Finally, JPMorgan Chase & Co. lowered Raytheon from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $190.00 to $210.00 in a report on Tuesday, December 12th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $210.77.

The company has a market cap of $62,370.00, a price-to-earnings ratio of 31.07, a PEG ratio of 1.99 and a beta of 0.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.54.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.01. The company had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.81 billion. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. Raytheon’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. sell-side analysts anticipate that Raytheon will post 9.65 EPS for the current fiscal year.

Raytheon declared that its board has initiated a stock repurchase plan on Wednesday, November 15th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other Raytheon news, VP Frank R. Jimenez sold 175 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Frank R. Jimenez sold 3,405 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $210.93, for a total value of $718,216.65. Following the transaction, the vice president now directly owns 25,342 shares of the company’s stock, valued at $5,345,388.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,074 shares of company stock valued at $1,648,810. 0.19% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Linscomb & Williams Inc. raised its position in shares of Raytheon by 1.8% in the second quarter. Linscomb & Williams Inc. now owns 1,734 shares of the aerospace company’s stock worth $280,000 after buying an additional 30 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of Raytheon by 3.6% in the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,963 shares of the aerospace company’s stock worth $317,000 after buying an additional 69 shares in the last quarter. Scholtz & Company LLC raised its position in shares of Raytheon by 0.6% in the second quarter. Scholtz & Company LLC now owns 14,423 shares of the aerospace company’s stock worth $2,329,000 after buying an additional 80 shares in the last quarter. Trustmark National Bank Trust Department raised its position in shares of Raytheon by 2.0% in the second quarter. Trustmark National Bank Trust Department now owns 4,234 shares of the aerospace company’s stock worth $684,000 after buying an additional 83 shares in the last quarter. Finally, Harfst & Associates Inc. raised its position in shares of Raytheon by 4.7% in the second quarter. Harfst & Associates Inc. now owns 2,929 shares of the aerospace company’s stock worth $472,000 after buying an additional 131 shares in the last quarter. 72.66% of the stock is owned by institutional investors and hedge funds.

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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.

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