Raytheon (NYSE:RTN) Lowered to “Market Perform” at Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of Raytheon (NYSE:RTN) from an outperform rating to a market perform rating in a research note released on Tuesday, BenzingaRatingsTable reports. Sanford C. Bernstein currently has $212.00 price target on the aerospace company’s stock.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. upgraded shares of Raytheon from a neutral rating to an overweight rating and raised their price target for the company from $225.00 to $230.00 in a research report on Monday. UBS Group raised their price target on shares of Raytheon from $205.00 to $215.00 and gave the company a neutral rating in a research report on Friday, September 13th. Vertical Research lowered shares of Raytheon from a buy rating to a hold rating and dropped their price target for the company from $216.00 to $203.00 in a research report on Tuesday, June 11th. ValuEngine lowered shares of Raytheon from a hold rating to a sell rating in a research report on Friday, June 28th. Finally, Bank of America restated a buy rating and set a $265.00 price target (up previously from $224.00) on shares of Raytheon in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $212.00.

RTN stock opened at $199.33 on Tuesday. The firm has a market cap of $55.98 billion, a PE ratio of 18.49, a P/E/G ratio of 1.61 and a beta of 0.85. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 1.46. The firm’s fifty day moving average is $185.99 and its 200 day moving average is $181.41. Raytheon has a one year low of $144.27 and a one year high of $209.18.



Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.61 by $0.31. The company had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.02 billion. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $2.45 earnings per share. Research analysts predict that Raytheon will post 11.73 earnings per share for the current fiscal year.

In other news, VP Randa G. Newsome sold 10,000 shares of Raytheon stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total value of $1,850,100.00. Following the sale, the vice president now owns 20,396 shares in the company, valued at $3,773,463.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Frank R. Jimenez sold 1,054 shares of Raytheon stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total transaction of $189,720.00. Following the completion of the sale, the vice president now owns 25,863 shares in the company, valued at approximately $4,655,340. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,969 shares of company stock worth $2,622,820. Company insiders own 0.18% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Country Club Trust Company n.a. lifted its stake in shares of Raytheon by 7.4% in the second quarter. Country Club Trust Company n.a. now owns 46,543 shares of the aerospace company’s stock worth $8,093,000 after buying an additional 3,216 shares in the last quarter. Clarius Group LLC purchased a new position in shares of Raytheon in the first quarter worth about $233,000. First Foundation Advisors lifted its stake in shares of Raytheon by 27.9% in the second quarter. First Foundation Advisors now owns 4,580 shares of the aerospace company’s stock worth $796,000 after buying an additional 999 shares in the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of Raytheon by 11.3% in the second quarter. Great Valley Advisor Group Inc. now owns 2,126 shares of the aerospace company’s stock worth $370,000 after buying an additional 216 shares in the last quarter. Finally, Tredje AP fonden lifted its stake in shares of Raytheon by 1.0% in the first quarter. Tredje AP fonden now owns 23,343 shares of the aerospace company’s stock worth $4,250,000 after buying an additional 227 shares in the last quarter. Institutional investors and hedge funds own 72.96% of the company’s stock.

Raytheon Company Profile

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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Analyst Recommendations for Raytheon (NYSE:RTN)

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