Raytheon (RTN) Director Sells $120,789.50 in Stock
Raytheon (NYSE:RTN) Director Letitia A. Long sold 650 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total transaction of $120,789.50. Following the completion of the transaction, the director now directly owns 2,273 shares in the company, valued at $422,391.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Raytheon (NYSE:RTN) traded up $2.02 during midday trading on Wednesday, hitting $188.30. 1,290,575 shares of the company’s stock traded hands, compared to its average volume of 1,250,000. The stock has a market cap of $54,440.00, a price-to-earnings ratio of 25.34, a P/E/G ratio of 2.36 and a beta of 0.58. Raytheon has a 52 week low of $141.28 and a 52 week high of $192.41. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44.
Raytheon (NYSE:RTN) last issued its 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 company had revenue of $6.28 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.79 EPS. equities research analysts forecast that Raytheon will post 7.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd will be given a $0.7975 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a dividend yield of 1.69%. Raytheon’s dividend payout ratio is presently 42.93%.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 367,898 shares in the last quarter. BlackRock Inc. boosted its position in shares of 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 buying an additional 527,139 shares in the last quarter. Boston Partners boosted its position in shares of Raytheon by 3.3% in the 2nd quarter. Boston Partners now owns 3,374,514 shares of the aerospace company’s stock worth $544,916,000 after buying an additional 106,788 shares in the last quarter. Pioneer Investment Management Inc. boosted its position in shares of Raytheon by 5.6% in the 2nd quarter. Pioneer Investment Management Inc. now owns 3,123,802 shares of the aerospace company’s stock worth $504,431,000 after buying an additional 165,905 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Raytheon by 1.8% in the 2nd quarter. Franklin Resources Inc. now owns 2,611,461 shares of the aerospace company’s stock worth $421,682,000 after buying an additional 46,444 shares in the last quarter. Institutional investors and hedge funds own 73.12% of the company’s stock.
Several brokerages have issued reports on RTN. Jefferies Group reissued a “buy” rating and issued a $190.00 price objective on shares of Raytheon in a research note on Friday, September 29th. ValuEngine cut shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Wells Fargo & Co reissued an “outperform” rating and issued a $202.00 price objective (up from $195.00) on shares of Raytheon in a research note on Tuesday, November 28th. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $209.00 price objective on shares of Raytheon in a research note on Tuesday, October 10th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $201.77.
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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