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.
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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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