Insider Selling: Vernon E. Clark Sells 1,000 Shares of Raytheon Company Stock (RTN)
Raytheon Company (NYSE:RTN) Director Vernon E. Clark unloaded 1,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $96.47, for a total value of $96,470.00. Following the sale, the director now directly owns 8,458 shares of the company’s stock, valued at approximately $815,943. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on RTN. Analysts at Sanford C. Bernstein downgraded shares of Raytheon Company from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 23rd. Separately, analysts at Bernstein downgraded shares of Raytheon Company from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 23rd. They now have a $101.00 price target on the stock, down previously from $110.00. Finally, 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. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $105.00.
Raytheon Company (NYSE:RTN) traded down 0.12% on Thursday, hitting $96.04. The stock had a trading volume of 1,400,628 shares. Raytheon Company has a 52 week low of $73.81 and a 52 week high of $102.33. The stock’s 50-day moving average is $93.55 and its 200-day moving average is $96.20. The company has a market cap of $29.841 billion and a price-to-earnings ratio of 14.38.
Raytheon Company (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.59. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, analysts predict that Raytheon Company will post $6.90 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 30th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Monday, September 29th.
Raytheon Company together with its subsidiaries, is a technology company specializing in defense, homeland security and other government markets worldwide.
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