ValuEngine Lowers Raytheon (NYSE:RTN) to Sell

Raytheon (NYSE:RTN) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

A number of other research analysts also recently commented on RTN. Sanford C. Bernstein increased their price objective on Raytheon from $212.00 to $225.00 and gave the company a “positive” rating in a report on Friday, October 25th. Cowen reissued a “buy” rating and issued a $225.00 target price on shares of Raytheon in a research report on Thursday, October 24th. Barclays set a $215.00 target price on Raytheon and gave the company a “hold” rating in a research report on Tuesday, October 8th. UBS Group set a $230.00 target price on Raytheon and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Wolfe Research set a $221.00 target price on Raytheon and gave the company a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $217.76.

RTN opened at $214.06 on Tuesday. Raytheon has a one year low of $144.27 and a one year high of $220.03. The company has a market cap of $60.65 billion, a P/E ratio of 20.18, a PEG ratio of 1.72 and a beta of 0.88. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.44 and a current ratio of 1.54. The business’s 50-day simple moving average is $212.64 and its 200-day simple moving average is $191.15.

Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.22. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the business posted $2.25 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts predict that Raytheon will post 11.86 earnings per share for the current fiscal year.

In other Raytheon news, Director Tracy A. Atkinson sold 500 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $215.48, for a total transaction of $107,740.00. Following the completion of the sale, the director now directly owns 4,376 shares of the company’s stock, valued at approximately $942,940.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Wesley D. Kremer sold 2,915 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $583,000.00. Following the sale, the vice president now directly owns 26,260 shares of the company’s stock, valued at $5,252,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,215 shares of company stock valued at $2,038,770. Insiders own 0.18% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Liberty Wealth Management LLC lifted its position in Raytheon by 312.5% during the 3rd quarter. Liberty Wealth Management LLC now owns 132 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Bridger Capital Management LLC acquired a new stake in Raytheon during the 3rd quarter worth approximately $26,000. Garrett Wealth Advisory Group LLC acquired a new stake in Raytheon during the 3rd quarter worth approximately $32,000. Sound Income Strategies LLC lifted its position in Raytheon by 95.3% during the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 81 shares during the period. Finally, First Financial Corp IN purchased a new position in shares of Raytheon during the 3rd quarter worth approximately $33,000. 74.30% of the stock is owned by institutional investors.

About Raytheon

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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