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

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

Raytheon Company (NYSE:RTN) traded down $4.26 during mid-day trading on Friday, reaching $186.89. The company had a trading volume of 1,848,589 shares, compared to its average volume of 1,234,828. Raytheon Company has a 12-month low of $137.70 and a 12-month high of $191.36. The company has a current ratio of 1.66, a quick ratio of 1.55 and a debt-to-equity ratio of 0.44. The stock has a market cap of $54,027.47, a price-to-earnings ratio of 24.72, a P/E/G ratio of 2.54 and a beta of 0.57.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The firm had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the company earned $1.79 EPS. Raytheon’s revenue was up 4.5% on a year-over-year basis. analysts anticipate that Raytheon Company will post 7.61 EPS for the current year.

Raytheon announced that its board has initiated a share repurchase plan on Wednesday, November 15th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

The business 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 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Tuesday, January 2nd. Raytheon’s payout ratio is currently 42.88%.

Hedge funds have recently bought and sold shares of the stock. Signature Estate & Investment Advisors LLC purchased a new position in shares of Raytheon during the 3rd quarter worth $103,000. St. Johns Investment Management Company LLC purchased a new position in shares of Raytheon during the 2nd quarter worth $113,000. Jacobi Capital Management LLC lifted its stake in shares of Raytheon by 271.1% during the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after purchasing an additional 553 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in shares of Raytheon during the 2nd quarter worth $139,000. Finally, Invictus RG purchased a new position in shares of Raytheon during the 3rd quarter worth $152,000. 73.51% of the stock is currently owned by hedge funds and other institutional investors.

RTN has been the topic of several research analyst reports. Morgan Stanley initiated coverage on Raytheon in a research note on Tuesday, August 8th. They set an “equal weight” rating and a $188.00 price target on the stock. Robert W. Baird reissued an “outperform” rating and set a $212.00 price target (up previously from $170.00) on shares of Raytheon in a research note on Thursday, August 10th. Cowen reissued an “outperform” rating and set a $189.00 price target (up previously from $182.00) on shares of Raytheon in a research note on Thursday, August 10th. Buckingham Research boosted their price target on Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Finally, BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target 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.

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