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.
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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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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