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.

Raytheon announced that its board has approved a stock repurchase program on Wednesday, November 15th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.

TRADEMARK VIOLATION WARNING: “Raytheon (RTN) Director Sells $120,789.50 in Stock” was first reported by Community Financial News and is owned by of Community Financial News. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://www.com-unik.info/2018/01/03/raytheon-rtn-director-sells-120789-50-in-stock.html.

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)

What are top analysts saying about Raytheon? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Raytheon and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit