Raytheon Company (RTN) Director Vernon E. Clark Sells 829 Shares
Raytheon Company (NYSE:RTN) Director Vernon E. Clark sold 829 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the sale, the director now directly owns 7,588 shares of the company’s stock, valued at approximately $1,367,281.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Raytheon Company (NYSE RTN) traded down 1.18% on Tuesday, hitting $178.22. 1,664,995 shares of the stock traded hands. The stock has a 50-day moving average price of $169.11 and a 200 day moving average price of $158.93. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $181.05. The company has a market cap of $51.73 billion, a price-to-earnings ratio of 24.62 and a beta of 0.59.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. Raytheon’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.38 EPS. On average, analysts anticipate that Raytheon Company will post $7.59 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th were paid a $0.7975 dividend. The ex-dividend date was Friday, June 30th. This represents a $3.19 annualized dividend and a dividend yield of 1.79%. Raytheon’s dividend payout ratio is currently 43.94%.
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Several equities research analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of Raytheon from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price for the company. in a research note on Tuesday. BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Argus reaffirmed a “buy” rating and issued a $195.00 target price (up previously from $175.00) on shares of Raytheon in a research note on Friday, August 4th. Finally, Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $183.00 target price for the company in a research note on Tuesday, May 30th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $183.01.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after buying an additional 18,551,353 shares during the period. Janus Henderson Group PLC raised its stake in shares of 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 worth $241,276,000 after buying an additional 1,483,389 shares during the period. Vanguard Group Inc. raised its stake in shares of Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock worth $3,341,355,000 after buying an additional 989,986 shares during the period. Alliancebernstein L.P. raised its stake in shares of Raytheon by 55.2% in the second quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock worth $376,037,000 after buying an additional 827,931 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of 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 worth $294,889,000 after buying an additional 546,398 shares during the period. Institutional investors own 74.72% of the company’s stock.
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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