Vernon E. Clark Sells 829 Shares of Raytheon Company (RTN) Stock
Raytheon Company (NYSE:RTN) Director Vernon E. Clark sold 829 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the sale, the director now owns 7,588 shares in the company, valued at approximately $1,367,281.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Raytheon Company (NYSE RTN) traded down 1.18% on Tuesday, reaching $178.22. 1,664,995 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $169.11 and its 200 day moving average price is $158.93. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $181.05. The firm has a market capitalization of $51.73 billion, a PE ratio of 24.62 and a beta of 0.59.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. During the same period in the prior year, the business earned $2.38 earnings per share. Raytheon’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts predict that Raytheon Company will post $7.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th were given a dividend of $0.7975 per share. The ex-dividend date was Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.79%. Raytheon’s payout ratio is 43.94%.
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RTN has been the topic of several analyst reports. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price target on the stock. in a research note on Tuesday, May 9th. Deutsche Bank AG raised their price target on shares of Raytheon from $156.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Royal Bank Of Canada restated a “buy” rating and issued a $181.00 price target on shares of Raytheon in a research note on Friday, June 2nd. Finally, BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $183.01.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Raytheon 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 last quarter. Janus Henderson Group PLC increased its stake in Raytheon by 13,784.9% in the second quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock worth $241,276,000 after buying an additional 1,483,389 shares during the period. Vanguard Group Inc. increased its stake in Raytheon 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. Alliancebernstein L.P. increased its stake in Raytheon by 55.2% in the second quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock worth $376,037,000 after buying an additional 827,931 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in Raytheon by 42.7% in the second quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock worth $294,889,000 after buying an additional 546,398 shares during the period. Institutional investors own 74.72% of the company’s stock.
Raytheon Company Profile
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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