Traders Sell Raytheon Company (RTN) on Strength (RTN)
Traders sold shares of Raytheon Company (NYSE:RTN) on strength during trading on Monday. $58.60 million flowed into the stock on the tick-up and $102.41 million flowed out of the stock on the tick-down, for a money net flow of $43.81 million out of the stock. Of all companies tracked, Raytheon had the 0th highest net out-flow for the day. Raytheon traded up $1.03 for the day and closed at $183.88
Several equities analysts have recently commented on RTN shares. Sanford C. Bernstein reiterated an “outperform” rating and set a $183.00 price objective (up from $180.00) on shares of Raytheon in a research report on Sunday, July 30th. Stifel Nicolaus reiterated a “buy” rating and set a $185.00 price objective (up from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. BidaskClub lowered Raytheon from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Bank of America Corporation reiterated a “buy” rating and set a $200.00 price objective (up from $185.00) on shares of Raytheon in a research report on Tuesday, August 1st. Finally, Argus reiterated a “buy” rating and set a $195.00 price objective (up from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $200.18.
The company has a market capitalization of $53,940.00, a P/E ratio of 24.32, a P/E/G ratio of 2.50 and a beta of 0.57. 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 released its earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.07. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.79 EPS. research analysts anticipate that Raytheon Company will post 7.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be paid a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Tuesday, January 2nd. Raytheon’s payout ratio is presently 42.93%.
Raytheon declared that its board has approved a share buyback plan on Wednesday, November 15th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other Raytheon news, VP Frank R. Jimenez sold 500 shares of Raytheon stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total transaction of $90,970.00. Following the completion of the transaction, the vice president now owns 29,292 shares in the company, valued at $5,329,386.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Frank R. Jimenez sold 650 shares of Raytheon stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $187.27, for a total value of $121,725.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,941 shares of company stock valued at $902,999. 0.19% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Raytheon by 1.7% during the second quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock valued at $3,597,519,000 after buying an additional 367,898 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Raytheon by 2.7% in the 2nd quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock worth $3,219,097,000 after purchasing an additional 527,139 shares in the last quarter. State Street Corp increased its holdings in shares of Raytheon by 2.6% in the 1st quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock worth $1,919,348,000 after purchasing an additional 313,435 shares in the last quarter. Morgan Stanley increased its holdings in shares of Raytheon by 7.2% in the 1st quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock worth $684,945,000 after purchasing an additional 302,274 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Raytheon by 0.7% in the 1st quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock worth $537,996,000 after purchasing an additional 23,172 shares in the last quarter. Institutional investors and hedge funds own 73.87% of the company’s stock.
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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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