Investors Buy Shares of Raytheon Company (NYSE:RTN) on Weakness

Traders purchased shares of Raytheon Company (NYSE:RTN) on weakness during trading hours on Thursday. $178.70 million flowed into the stock on the tick-up and $131.30 million flowed out of the stock on the tick-down, for a money net flow of $47.40 million into the stock. Of all equities tracked, Raytheon had the 12th highest net in-flow for the day. Raytheon traded down ($1.68) for the day and closed at $177.62

Several research analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Raytheon from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, April 28th. BidaskClub upgraded Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $166.44 price objective for the company. in a research report on Tuesday, May 23rd. Argus restated a “buy” rating and issued a $195.00 price objective (up from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Finally, Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $183.00 price objective for the company in a research report on Tuesday, May 30th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Raytheon presently has a consensus rating of “Buy” and an average target price of $182.49.

The company has a 50 day moving average of $168.59 and a 200 day moving average of $158.50. The stock has a market capitalization of $52.06 billion, a PE ratio of 24.77 and a beta of 0.59. Raytheon also was the target of some unusual options trading on Thursday. Traders bought 14,447 call options on the stock. This is an increase of 901% compared to the average daily volume of 1,443 call options.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $2.38 EPS. On average, equities analysts predict that Raytheon Company will post $7.59 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were paid a $0.7975 dividend. This represents a $3.19 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Friday, June 30th. Raytheon’s payout ratio is currently 43.94%.

In related news, CAO Michael J. Wood sold 1,442 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $162.98, for a total value of $235,017.16. Following the completion of the transaction, the chief accounting officer now directly owns 18,470 shares of the company’s stock, valued at approximately $3,010,240.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Wesley D. Kremer sold 1,010 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total value of $164,731.00. Following the completion of the transaction, the vice president now directly owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The disclosure for this sale can be found here. Insiders sold a total of 15,911 shares of company stock valued at $2,580,752 over the last ninety days. 0.19% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in RTN. Crestwood Advisors Group LLC purchased a new position in Raytheon during the first quarter valued at $110,000. Oakworth Capital Inc. increased its position in 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 last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Raytheon during the first quarter valued at $111,000. St. Johns Investment Management Company LLC purchased a new position in Raytheon during the second quarter valued at $113,000. Finally, Jacobi Capital Management LLC increased its position in 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 last quarter. 74.98% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Investors Buy Shares of Raytheon Company (NYSE:RTN) on Weakness” was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this article can be accessed at https://stocknewstimes.com/2017/08/12/investors-buy-shares-of-raytheon-company-nysertn-on-weakness.html.

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.

Receive News & Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply