Traders Sell Raytheon (RTN) on Strength (RTN)

Traders sold shares of Raytheon (NYSE:RTN) on strength during trading on Friday. $154.50 million flowed into the stock on the tick-up and $191.71 million flowed out of the stock on the tick-down, for a money net flow of $37.21 million out of the stock. Of all companies tracked, Raytheon had the 0th highest net out-flow for the day. Raytheon traded up $5.46 for the day and closed at $214.57

RTN has been the subject of several research analyst reports. Wells Fargo reissued an “outperform” rating and set a $202.00 price objective (up previously from $195.00) on shares of Raytheon in a research report on Tuesday, November 28th. JPMorgan Chase & Co. cut Raytheon from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $190.00 to $210.00 in a research report on Tuesday, December 12th. ValuEngine raised Raytheon from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Stifel Nicolaus reissued a “buy” rating and set a $210.00 price objective on shares of Raytheon in a research report on Tuesday, January 9th. Finally, Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $217.00 price objective for the company in a research report on Friday, January 12th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $214.12.

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.54. The stock has a market cap of $61,904.74, a price-to-earnings ratio of 27.83, a P/E/G ratio of 2.03 and a beta of 0.71.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 EPS for the quarter, beating the consensus estimate of $2.02 by $0.01. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 EPS. equities analysts predict that Raytheon will post 9.66 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Wednesday, April 11th will be issued a $0.8675 dividend. This is a boost from Raytheon’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, April 10th. This represents a $3.47 annualized dividend and a yield of 1.62%. Raytheon’s dividend payout ratio is 45.90%.

In other news, Director Letitia A. Long sold 650 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $185.83, for a total value of $120,789.50. Following the completion of the transaction, the director now directly owns 2,273 shares of the company’s stock, valued at approximately $422,391.59. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anthony F. O’brien sold 10,503 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $214.17, for a total value of $2,249,427.51. Following the completion of the transaction, the chief financial officer now directly owns 35,328 shares of the company’s stock, valued at $7,566,197.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,400 shares of company stock valued at $17,052,714. Insiders own 0.19% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Signature Estate & Investment Advisors LLC acquired a new position in shares of Raytheon in the 3rd quarter worth approximately $103,000. Stonehearth Capital Management LLC acquired a new position in shares of Raytheon in the 4th quarter worth approximately $103,000. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Raytheon in the 4th quarter worth approximately $106,000. Global Trust Asset Management LLC acquired a new position in shares of Raytheon in the 4th quarter worth approximately $136,000. Finally, Invictus RG acquired a new position in shares of Raytheon in the 3rd quarter worth approximately $152,000. 73.40% of the stock is owned by institutional investors and hedge funds.

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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.

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