Raytheon Company Chairman Sells $4,172,601 in Stock (RTN)
Raytheon Company (NYSE:RTN) Chairman William H. Swanson unloaded 42,608 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $97.93, for a total value of $4,172,601.44. Following the completion of the transaction, the chairman now directly owns 647,310 shares in the company, valued at approximately $63,391,068. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Raytheon Company (NYSE:RTN) traded down 0.94% on Tuesday, hitting $97.57. 1,617,659 shares of the company’s stock traded hands. Raytheon Company has a 52-week low of $64.48 and a 52-week high of $102.33. The stock’s 50-day moving average is $97.12 and its 200-day moving average is $94.41. The company has a market cap of $30.525 billion and a price-to-earnings ratio of 15.30.
Raytheon Company (NYSE:RTN) last announced its earnings results on Thursday, April 24th. The company reported $1.87 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.77 by $0.10. The company had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the company posted $1.56 earnings per share. Raytheon Company’s revenue was down 6.3% compared to the same quarter last year. On average, analysts predict that Raytheon Company will post $6.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 7th. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Monday, June 30th.
A number of research firms have recently commented on RTN. Analysts at Wolfe Research initiated coverage on shares of Raytheon Company in a research note on Tuesday, May 13th. They set an “outperform” rating on the stock. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Raytheon Company from $91.00 to $87.00 in a research note on Friday, April 25th. They now have a “neutral” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Raytheon Company in a research note on Wednesday, April 9th. They now have a $120.00 price target on the stock, up previously from $104.00. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $103.94.
Raytheon Company together with its subsidiaries, is a technology company specializing in defense, homeland security and other government markets worldwide.
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