Raytheon Company VP Sells $2,598,750 in Stock (RTN)
Raytheon Company (NYSE:RTN) VP Lynn A. Dugle unloaded 27,124 shares of the stock in a transaction dated Thursday, June 19th. The shares were sold at an average price of $95.81, for a total transaction of $2,598,750.44. Following the completion of the transaction, the vice president now directly owns 57,726 shares of the company’s stock, valued at approximately $5,530,728. The transaction was disclosed in a filing with the SEC, which is available at this link.
Raytheon Company (NYSE:RTN) traded down 0.97% during mid-day trading on Monday, hitting $95.83. The stock had a trading volume of 889,334 shares. 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 $96. and its 200-day moving average is $94.87. The company has a market cap of $29.981 billion and a P/E ratio of 15.03.
Raytheon Company (NYSE:RTN) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.56 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Analysts expect that Raytheon Company will post $6.93 EPS 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 2.53%. The ex-dividend date is Monday, June 30th.
RTN has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of Raytheon Company from $87.00 to $88.00 in a research note on Tuesday, June 17th. They now have a “neutral” rating on the stock. Separately, 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. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $104.00.
Raytheon Company together with its subsidiaries, is a technology company specializing in defense, homeland security and other government markets worldwide.
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