Raytheon (RTN) VP Sells $33,097.75 in Stock
Raytheon (NYSE:RTN) VP Frank R. Jimenez sold 175 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $189.13, for a total value of $33,097.75. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Raytheon (RTN) traded up $0.03 during trading on Friday, reaching $190.12. The company had a trading volume of 87,988 shares, compared to its average volume of 1,561,133. The stock has a market capitalization of $54,960.00, a price-to-earnings ratio of 25.59, a price-to-earnings-growth 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 quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The company had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same period in the prior year, the business posted $1.79 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. equities research analysts predict that Raytheon will post 7.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be given a dividend of $0.7975 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a dividend yield of 1.68%. Raytheon’s dividend payout ratio is currently 42.93%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised 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 valued at $241,276,000 after buying an additional 1,483,389 shares in the last quarter. Alliancebernstein L.P. raised 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 valued at $376,037,000 after buying an additional 827,931 shares in the last quarter. UBS Asset Management Americas Inc. raised 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 valued at $294,889,000 after buying an additional 546,398 shares in the last quarter. BlackRock Inc. raised its stake in Raytheon by 2.7% in the second quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock valued at $3,219,097,000 after buying an additional 527,139 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in Raytheon by 2,385.7% in the third quarter. Stifel Financial Corp now owns 488,766 shares of the aerospace company’s stock valued at $90,995,000 after buying an additional 469,103 shares in the last quarter. Institutional investors and hedge funds own 73.12% of the company’s stock.
A number of equities analysts have commented on the company. ValuEngine raised Raytheon from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. JPMorgan Chase & Co. cut Raytheon from an “overweight” rating to a “neutral” rating and increased their target price for the company from $190.00 to $210.00 in a report on Tuesday, December 12th. Wells Fargo & Co reissued an “outperform” rating and set a $202.00 target price (up previously from $195.00) on shares of Raytheon in a report on Tuesday, November 28th. Royal Bank of Canada set a $225.00 target price on Raytheon and gave the company a “buy” rating in a report on Thursday, November 16th. Finally, Buckingham Research increased their target price on Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $201.77.
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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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