Raytheon Company (RTN) VP Sells $18,013.90 in Stock

Raytheon Company (NYSE:RTN) VP Frank R. Jimenez sold 95 shares of Raytheon stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $189.62, for a total transaction of $18,013.90. Following the sale, the vice president now owns 28,486 shares of the company’s stock, valued at $5,401,515.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Raytheon Company (NYSE RTN) traded up $2.57 during mid-day trading on Thursday, hitting $191.15. 3,122,091 shares of the company’s stock traded hands, compared to its average volume of 1,472,751. The stock has a market capitalization of $54,520.00, a P/E ratio of 24.97, a PEG ratio of 2.56 and a beta of 0.57. Raytheon Company has a 52-week low of $137.70 and a 52-week high of $191.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. The firm had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.79 earnings per share. equities analysts forecast that Raytheon Company will post 7.61 EPS for the current fiscal year.

Raytheon declared that its Board of Directors has approved a stock repurchase program on Wednesday, November 15th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd will be paid a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Tuesday, January 2nd. Raytheon’s payout ratio is 42.93%.

Several hedge funds and other institutional investors have recently modified their holdings of RTN. BlackRock Inc. increased its stake 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 period. Janus Henderson Group PLC increased its stake in shares of 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 shares of 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 shares of 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 shares of 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. 73.51% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on RTN. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price for the company. in a research report on Tuesday, August 15th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research report on Wednesday, September 20th. Cowen reiterated an “outperform” rating and set a $189.00 target price (up from $182.00) on shares of Raytheon in a research report on Thursday, August 10th. ValuEngine lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Argus reissued a “buy” rating and set a $195.00 price target (up from $175.00) on shares of Raytheon in a research note on Friday, August 4th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $200.59.

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About Raytheon

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.

Insider Buying and Selling by Quarter for Raytheon (NYSE:RTN)

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