Insider Selling: Raytheon Company (RTN) VP Sells 650 Shares of Stock
Raytheon Company (NYSE:RTN) VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Raytheon Company (NYSE RTN) traded down 0.40% during mid-day trading on Wednesday, reaching $187.55. The company had a trading volume of 1,426,035 shares. The firm’s 50-day moving average price is $181.80 and its 200-day moving average price is $166.58. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $188.31. The stock has a market cap of $54.44 billion, a PE ratio of 25.90 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 for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. The firm had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.38 EPS. Equities research analysts forecast that Raytheon Company will post $7.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be paid a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Wednesday, October 11th. Raytheon’s payout ratio is presently 43.94%.
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Several analysts have recently commented on the company. ValuEngine cut Raytheon from a “buy” rating to a “hold” rating in a research report on Monday. BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Buckingham Research raised their target price on Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Morgan Stanley assumed coverage on Raytheon in a research report on Tuesday, August 8th. They issued an “equal weight” rating and a $188.00 target price for the company. Finally, Argus reaffirmed a “buy” rating and issued a $195.00 target price (up previously from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Raytheon presently has an average rating of “Buy” and an average price target of $190.67.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Raytheon by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock worth $3,597,519,000 after purchasing an additional 367,898 shares during the period. BlackRock Inc. boosted its stake in Raytheon by 2.7% in the 2nd quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock worth $3,219,097,000 after purchasing an additional 527,139 shares during the period. State Street Corp boosted its stake in Raytheon by 2.6% in the 1st quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock worth $1,919,348,000 after purchasing an additional 313,435 shares during the period. Morgan Stanley boosted its stake in Raytheon by 7.2% in the 1st quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock worth $684,945,000 after purchasing an additional 302,274 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in Raytheon by 0.7% in the 1st quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock worth $537,996,000 after purchasing an additional 23,172 shares during the period. 73.75% of the stock is owned by hedge funds and other institutional investors.
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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