Morgan Stanley Cuts Raytheon (RTN) Price Target to $238.00

Raytheon (NYSE:RTN) had its price target decreased by equities researchers at Morgan Stanley from $245.00 to $238.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “overweight” rating on the aerospace company’s stock. Morgan Stanley’s target price indicates a potential upside of 8.98% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus raised their price objective on Raytheon from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Cowen reiterated a “buy” rating and issued a $215.00 price target on shares of Raytheon in a research note on Thursday, January 25th. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research note on Friday, April 6th. ValuEngine upgraded Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Barclays began coverage on Raytheon in a research note on Thursday, March 29th. They issued an “equal weight” rating and a $239.00 price target for the company. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $219.36.

Shares of RTN stock opened at $218.39 on Thursday. Raytheon has a 1-year low of $150.90 and a 1-year high of $222.82. The stock has a market cap of $62,926.04, a P/E ratio of 28.66, a P/E/G ratio of 2.06 and a beta of 0.70. 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 issued its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter last year, the company earned $1.84 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. equities analysts anticipate that Raytheon will post 9.67 earnings per share for the current fiscal year.

In other news, CAO Michael J. Wood sold 3,989 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $215.88, for a total value of $861,145.32. Following the completion of the transaction, the chief accounting officer now directly owns 22,260 shares in the company, valued at $4,805,488.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Anthony F. O’brien sold 10,503 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $214.17, for a total value of $2,249,427.51. Following the completion of the transaction, the chief financial officer now owns 35,328 shares of the company’s stock, valued at $7,566,197.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,866 shares of company stock valued at $22,730,714. Company insiders own 0.19% of the company’s stock.

Large investors have recently made changes to their positions in the company. Stonehearth Capital Management LLC acquired a new stake in Raytheon during the fourth quarter worth about $103,000. Rowland & Co. Investment Counsel ADV acquired a new stake in Raytheon during the fourth quarter worth about $106,000. Global Trust Asset Management LLC acquired a new stake in Raytheon during the fourth quarter worth about $136,000. Certified Advisory Corp acquired a new stake in Raytheon during the fourth quarter worth about $174,000. Finally, Risk Paradigm Group LLC grew its holdings in Raytheon by 120.9% during the fourth quarter. Risk Paradigm Group LLC now owns 963 shares of the aerospace company’s stock worth $181,000 after acquiring an additional 527 shares during the period. Hedge funds and other institutional investors own 73.60% of the company’s stock.

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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.

Analyst Recommendations for Raytheon (NYSE:RTN)

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