Raytheon Target of Unusually Large Options Trading (RTN)
Raytheon Company (NYSE:RTN) was the recipient of some unusual options trading activity on Thursday. Traders bought 14,447 call options on the stock. This represents an increase of approximately 901% compared to the average daily volume of 1,443 call options.
Raytheon (NYSE RTN) opened at 179.35 on Friday. Raytheon has a 12-month low of $132.89 and a 12-month high of $181.05. The company has a market capitalization of $52.06 billion, a P/E ratio of 24.77 and a beta of 0.59. The company has a 50-day moving average of $168.59 and a 200 day moving average of $158.50.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) 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%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.38 earnings per share. Equities research analysts forecast that Raytheon will post $7.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were given a dividend of $0.7975 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $3.19 annualized dividend and a yield of 1.78%. Raytheon’s dividend payout ratio (DPR) is 43.94%.
In other news, VP Taylor W. Lawrence sold 2,756 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.04, for a total transaction of $446,582.24. Following the completion of the transaction, the vice president now directly owns 53,285 shares of the company’s stock, valued at approximately $8,634,301.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Thomas A. Kennedy sold 10,703 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.05, for a total transaction of $1,734,421.15. Following the transaction, the chairman now directly owns 61,671 shares of the company’s stock, valued at $9,993,785.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,911 shares of company stock valued at $2,580,752. Company insiders own 0.19% of the company’s stock.
A number of hedge funds have recently made changes to their positions in RTN. St. Johns Investment Management Company LLC acquired a new stake in shares of Raytheon during the second quarter valued at about $113,000. Crestwood Advisors Group LLC acquired a new stake in shares of Raytheon during the first quarter valued at about $110,000. Oakworth Capital Inc. raised its stake in shares of Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock valued at $111,000 after buying an additional 445 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Raytheon during the first quarter valued at about $111,000. Finally, Jacobi Capital Management LLC raised its stake in shares of Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after buying an additional 553 shares during the period. Institutional investors own 74.98% of the company’s stock.
A number of research analysts have recently weighed in on the stock. BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Robert W. Baird reissued an “outperform” rating and set a $212.00 target price (up from $170.00) on shares of Raytheon in a research report on Thursday. Cowen and Company reissued an “outperform” rating and set a $189.00 target price (up from $182.00) on shares of Raytheon in a research report on Thursday. Buckingham Research increased their target price on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research report on Friday. Finally, Argus reissued a “buy” rating and set a $195.00 target price (up from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $182.49.
Raytheon Company Profile
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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