Raytheon Company (RTN) Director Sells $152,216.00 in Stock

Raytheon Company (NYSE:RTN) Director Stephen J. Hadley sold 800 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $190.27, for a total transaction of $152,216.00. Following the sale, the director now directly owns 11,360 shares in the company, valued at $2,161,467.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Raytheon Company (NYSE:RTN) traded up $1.35 during midday trading on Thursday, hitting $185.20. 1,214,000 shares of the stock were exchanged, compared to its average volume of 1,472,432. The company has a market capitalization of $53,148.65, a PE ratio of 24.32, a price-to-earnings-growth ratio of 2.50 and a beta of 0.58. Raytheon Company has a 52 week low of $137.70 and a 52 week high of $191.36. The company has a current ratio of 1.66, a quick ratio of 1.55 and a debt-to-equity ratio of 0.44.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.79 earnings per share. analysts forecast that Raytheon Company will post 7.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be given a dividend of $0.7975 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.72%. Raytheon’s dividend payout ratio is 42.88%.

Raytheon declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 15th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Several hedge funds and other institutional investors have recently made changes to their positions in RTN. BlackRock Inc. raised its holdings in shares of Raytheon by 2,166.0% during the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after acquiring an additional 18,551,353 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Raytheon by 13,784.9% during the second quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock worth $241,276,000 after acquiring an additional 1,483,389 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Raytheon by 55.2% during the second quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock worth $376,037,000 after acquiring an additional 827,931 shares during the period. UBS Asset Management Americas Inc. raised its holdings in shares of Raytheon by 42.7% during 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 acquiring an additional 546,398 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Raytheon by 66.5% during the first quarter. Renaissance Technologies LLC now owns 1,289,200 shares of the aerospace company’s stock worth $196,603,000 after acquiring an additional 514,800 shares during the period. 73.53% of the stock is currently owned by institutional investors.

RTN has been the topic of a number of recent research reports. Buckingham Research raised their price objective on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price objective on the stock in a research note on Thursday, September 14th. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Royal Bank Of Canada set a $193.00 price objective on shares of Raytheon and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, BidaskClub cut shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $200.59.

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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.

Insider Buying and Selling by Quarter for Raytheon (NYSE:RTN)

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