News articles about Raytheon (NYSE:RTN) have been trending somewhat positive recently, Accern reports. The research firm scores the sentiment of press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Raytheon earned a daily sentiment score of 0.22 on Accern’s scale. Accern also assigned media coverage about the aerospace company an impact score of 45.9349233299448 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the headlines that may have effected Accern Sentiment’s rankings:
- Raytheon to overhaul Canada’s anti-ship Phalanx system (upi.com)
- Way to read Technical data on Raytheon Company (RTN) – Wall Street Morning (wallstreetmorning.com)
- Global study reveals cybersecurity professionals believe a catastrophic data breach to their organization is inevitable (finance.yahoo.com)
- Financial Survey: Moog (MOG) versus Raytheon (RTN) (americanbankingnews.com)
- Raytheon overhauling Royal Canadian Navy Phalanx Close-In … – Markets Insider (markets.businessinsider.com)
A number of brokerages have commented on RTN. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Stifel Nicolaus lifted their price target on Raytheon from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Cowen reaffirmed a “buy” rating and issued a $215.00 price target on shares of Raytheon in a research note on Thursday, January 25th. JPMorgan Chase & Co. decreased their price target on Raytheon from $194.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, October 30th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $237.00 price target on shares of Raytheon in a research note on Friday, January 26th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Raytheon presently has an average rating of “Buy” and a consensus target price of $210.77.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.01. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. analysts forecast that Raytheon will post 9.65 earnings per share for the current fiscal year.
Raytheon declared that its board has initiated a stock buyback plan on Wednesday, November 15th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, VP Frank R. Jimenez sold 175 shares of Raytheon stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Thomas A. Kennedy sold 44,778 shares of Raytheon stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $215.90, for a total value of $9,667,570.20. Following the sale, the chairman now owns 138,339 shares in the company, valued at $29,867,390.10. The disclosure for this sale can be found here. Insiders have sold 69,792 shares of company stock worth $14,973,517 over the last 90 days. 0.19% of the stock is currently owned by corporate insiders.
Raytheon Company Profile
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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