Stephen J. Hadley Sells 800 Shares of Raytheon (RTN) Stock
Raytheon (NYSE:RTN) Director Stephen J. Hadley sold 800 shares of Raytheon stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $203.31, for a total transaction of $162,648.00. Following the sale, the director now directly owns 10,845 shares of the company’s stock, valued at approximately $2,204,896.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Raytheon (NYSE:RTN) traded up $3.00 during midday trading on Monday, reaching $207.52. 2,130,000 shares of the company’s stock were exchanged, compared to its average volume of 1,830,000. The company has a quick ratio of 1.46, a current ratio of 1.54 and a debt-to-equity ratio of 0.48. The company has a market cap of $59,990.00, a P/E ratio of 29.90, a P/E/G ratio of 1.94 and a beta of 0.76. Raytheon has a 52-week low of $148.65 and a 52-week high of $213.45.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.01. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the firm posted $1.84 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. research analysts forecast that Raytheon will post 9.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd were issued a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Tuesday, January 2nd. Raytheon’s dividend payout ratio (DPR) is presently 45.97%.
Institutional investors have recently modified their holdings of the company. Signature Estate & Investment Advisors LLC bought a new stake in shares of Raytheon during the 3rd quarter worth approximately $103,000. Stonehearth Capital Management LLC bought a new stake in shares of Raytheon during the 4th quarter worth approximately $103,000. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Raytheon during the 4th quarter worth approximately $106,000. Global Trust Asset Management LLC bought a new stake in shares of Raytheon during the 4th quarter worth approximately $136,000. Finally, Invictus RG bought a new stake in shares of Raytheon during the 3rd quarter worth approximately $152,000. 72.66% of the stock is owned by institutional investors.
RTN has been the subject of several research analyst reports. Cowen reaffirmed a “buy” rating and set a $203.00 target price on shares of Raytheon in a report on Thursday, October 19th. Robert W. Baird reaffirmed a “buy” rating and set a $212.00 target price on shares of Raytheon in a report on Tuesday, October 24th. Stifel Nicolaus lifted their target price on shares of Raytheon from $185.00 to $195.00 and gave the stock a “hold” rating in a report on Friday, October 27th. Bank of America set a $220.00 price objective on shares of Raytheon and gave the company a “buy” rating in a report on Friday, October 27th. Finally, Wells Fargo & Co cut their price objective on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, October 27th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Raytheon currently has a consensus rating of “Buy” and a consensus target price of $210.77.
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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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