Insider Selling: Raytheon (RTN) VP Sells $2,556,532.86 in Stock

Raytheon (NYSE:RTN) VP Rebecca R. Rhoads sold 12,054 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $212.09, for a total value of $2,556,532.86. Following the completion of the transaction, the vice president now directly owns 26,266 shares in the company, valued at approximately $5,570,755.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Raytheon stock opened at $215.91 on Friday. 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 firm has a market cap of $62,605.80, a price-to-earnings ratio of 28.33, a P/E/G ratio of 2.05 and a beta of 0.70. Raytheon has a twelve month low of $150.72 and a twelve month high of $222.82.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Wednesday, April 11th will be issued a dividend of $0.8675 per share. The ex-dividend date of this dividend is Tuesday, April 10th. This represents a $3.47 dividend on an annualized basis and a yield of 1.61%. This is a positive change from Raytheon’s previous quarterly dividend of $0.80. Raytheon’s dividend payout ratio is currently 41.86%.

Institutional investors have recently bought and sold shares of the business. Investment Centers of America Inc. lifted its holdings in Raytheon by 26.8% during the third quarter. Investment Centers of America Inc. now owns 2,635 shares of the aerospace company’s stock worth $492,000 after buying an additional 557 shares during the period. MUFG Securities EMEA plc purchased a new stake in shares of Raytheon during the 4th quarter valued at $39,449,000. Marietta Wealth Management LLC lifted its holdings in shares of Raytheon by 7.4% during the 3rd quarter. Marietta Wealth Management LLC now owns 9,730 shares of the aerospace company’s stock valued at $1,815,000 after purchasing an additional 667 shares during the last quarter. Independent Advisor Alliance lifted its holdings in shares of Raytheon by 151.1% during the 3rd quarter. Independent Advisor Alliance now owns 4,289 shares of the aerospace company’s stock valued at $806,000 after purchasing an additional 2,581 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of Raytheon by 97.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 131,675 shares of the aerospace company’s stock valued at $24,568,000 after purchasing an additional 64,996 shares during the last quarter. Institutional investors own 73.43% of the company’s stock.

Several research analysts recently issued reports on RTN shares. JPMorgan Chase cut Raytheon from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $190.00 to $210.00 in a research note on Tuesday, December 12th. Morgan Stanley increased their price objective on Raytheon from $224.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Wells Fargo reissued an “outperform” rating and issued a $215.00 price objective (up previously from $202.00) on shares of Raytheon in a research note on Tuesday, January 16th. Robert W. Baird reissued a “buy” rating and issued a $237.00 price objective on shares of Raytheon in a research note on Friday, January 26th. Finally, Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $217.00 price objective on the stock in a research note on Friday, January 12th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $219.36.

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About Raytheon

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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