Raytheon (NYSE:RTN) shares were down 0.9% during trading on Wednesday following insider selling activity. The company traded as low as $176.60 and last traded at $176.06. Approximately 1,607,341 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 1,946,583 shares. The stock had previously closed at $177.62.
Specifically, VP Wesley D. Kremer sold 8,186 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $185.00, for a total transaction of $1,514,410.00. Following the completion of the transaction, the vice president now owns 29,175 shares in the company, valued at approximately $5,397,375. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Michael J. Wood sold 543 shares of Raytheon stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $180.72, for a total transaction of $98,130.96. Following the completion of the sale, the chief accounting officer now owns 15,081 shares of the company’s stock, valued at approximately $2,725,438.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,592 shares of company stock valued at $2,310,174. Company insiders own 0.18% of the company’s stock.
Several analysts have recently weighed in on RTN shares. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Vertical Research lowered shares of Raytheon from a “buy” rating to a “hold” rating and lowered their price objective for the company from $216.00 to $203.00 in a research note on Tuesday. Stifel Nicolaus lifted their price objective on shares of Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a research note on Monday. ValuEngine upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a research note on Friday, June 7th. Finally, Jefferies Financial Group lifted their price objective on shares of Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $208.36.
The company has a market cap of $52.03 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.42 and a beta of 0.91. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, April 25th. The aerospace company reported $2.77 EPS for the quarter, beating the Zacks’ consensus estimate of $2.45 by $0.32. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.58 billion. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. Raytheon’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 EPS. On average, equities analysts expect that Raytheon will post 11.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.9425 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $3.77 dividend on an annualized basis and a yield of 2.13%. Raytheon’s dividend payout ratio (DPR) is presently 35.53%.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Raytheon by 2.3% during the 1st quarter. BlackRock Inc. now owns 23,365,818 shares of the aerospace company’s stock valued at $4,254,449,000 after purchasing an additional 527,708 shares in the last quarter. Vanguard Group Inc boosted its holdings in Raytheon by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 23,074,017 shares of the aerospace company’s stock worth $4,768,477,000 after acquiring an additional 212,408 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Raytheon by 8,792.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,238 shares of the aerospace company’s stock worth $63,000 after acquiring an additional 9,565,442 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Raytheon by 3.2% during the 1st quarter. Macquarie Group Ltd. now owns 4,102,475 shares of the aerospace company’s stock worth $746,978,000 after acquiring an additional 127,270 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in Raytheon by 4.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,050,716 shares of the aerospace company’s stock worth $737,556,000 after acquiring an additional 170,226 shares during the last quarter. Institutional investors and hedge funds own 74.39% of the company’s stock.
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About Raytheon (NYSE:RTN)
Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
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