Raytheon Company (RTN) Plans Quarterly Dividend of $0.80
Raytheon Company (NYSE:RTN) declared a quarterly dividend on Thursday, May 25th. Shareholders of record on Wednesday, July 5th will be given a dividend of 0.7975 per share by the aerospace company on Thursday, August 3rd. This represents a $3.19 annualized dividend and a yield of 1.96%.
Raytheon Company has raised its dividend by an average of 10.1% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Raytheon Company has a dividend payout ratio of 42.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Raytheon Company to earn $8.39 per share next year, which means the company should continue to be able to cover its $3.19 annual dividend with an expected future payout ratio of 38.0%.
Raytheon Company (NYSE:RTN) traded up 0.60% during trading on Thursday, reaching $163.11. The company’s stock had a trading volume of 962,824 shares. The stock’s 50 day moving average is $156.19 and its 200-day moving average is $150.55. The firm has a market cap of $47.48 billion, a P/E ratio of 21.01 and a beta of 0.67. Raytheon Company has a 52 week low of $129.00 and a 52 week high of $163.57.
Raytheon Company (NYSE:RTN) last released its quarterly earnings results on Thursday, April 27th. The aerospace company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.12. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.83 billion. Raytheon Company had a return on equity of 19.77% and a net margin of 9.19%. Raytheon Company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 earnings per share. On average, equities research analysts forecast that Raytheon Company will post $7.48 earnings per share for the current fiscal year.
RTN has been the topic of a number of recent research reports. Vetr lowered Raytheon Company from a “buy” rating to a “hold” rating and set a $159.34 target price on the stock. in a research report on Monday, March 13th. Stifel Nicolaus lifted their target price on Raytheon Company from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Royal Bank of Canada reiterated a “buy” rating and set a $180.00 target price on shares of Raytheon Company in a research note on Friday, March 24th. Jefferies Group LLC restated a “buy” rating on shares of Raytheon Company in a research note on Monday, February 27th. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $170.00 price target on shares of Raytheon Company in a research note on Friday, March 31st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Raytheon Company has a consensus rating of “Buy” and an average target price of $167.26.
In other Raytheon Company news, VP Michael J. Wood sold 518 shares of the company’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $151.73, for a total value of $78,596.14. Following the sale, the vice president now owns 21,714 shares in the company, valued at approximately $3,294,665.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP David C. Wajsgras sold 5,250 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $154.46, for a total value of $810,915.00. Following the completion of the sale, the vice president now owns 150,182 shares in the company, valued at approximately $23,197,111.72. The disclosure for this sale can be found here. Insiders have sold a total of 14,776 shares of company stock worth $2,257,281 in the last 90 days. 0.21% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Raytheon Company by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after buying an additional 18,551,353 shares during the period. Vanguard Group Inc. raised its stake in Raytheon Company by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock worth $3,341,355,000 after buying an additional 989,986 shares during the period. Renaissance Technologies LLC raised its stake in Raytheon Company by 66.5% in the first quarter. Renaissance Technologies LLC now owns 1,289,200 shares of the aerospace company’s stock worth $196,603,000 after buying an additional 514,800 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in Raytheon Company during the first quarter worth approximately $58,030,000. Finally, Marshall Wace North America L.P. bought a new stake in Raytheon Company during the first quarter worth approximately $58,030,000. Hedge funds and other institutional investors own 75.72% of the company’s stock.
About Raytheon Company
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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