Traders Buy Raytheon (RTN) on Weakness

Traders bought shares of Raytheon (NYSE:RTN) on weakness during trading on Friday. $114.44 million flowed into the stock on the tick-up and $42.17 million flowed out of the stock on the tick-down, for a money net flow of $72.27 million into the stock. Of all companies tracked, Raytheon had the 14th highest net in-flow for the day. Raytheon traded down ($0.71) for the day and closed at $227.35

Several equities analysts have recently issued reports on the company. Cowen reaffirmed a “buy” rating and set a $235.00 price target on shares of Raytheon in a research note on Tuesday, April 17th. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. Morgan Stanley cut their price target on Raytheon from $245.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, April 12th. ValuEngine raised Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Sanford C. Bernstein increased their target price on Raytheon from $231.00 to $255.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Raytheon presently has a consensus rating of “Buy” and an average target price of $220.53.

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The company has a debt-to-equity ratio of 0.48, a current ratio of 1.54 and a quick ratio of 1.46. The company has a market cap of $65,796.67, a price-to-earnings ratio of 29.84, a PEG ratio of 2.15 and a beta of 0.70.



Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.01. The company had revenue of $6.78 billion for 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 earnings per share. equities research analysts anticipate that Raytheon will post 9.69 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Wednesday, April 11th will be given 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 dividend yield of 1.53%. This is a positive change from Raytheon’s previous quarterly dividend of $0.80. Raytheon’s dividend payout ratio (DPR) is currently 45.54%.

In other news, VP Rebecca R. Rhoads sold 12,054 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $212.09, for a total transaction of $2,556,532.86. Following the sale, the vice president now owns 26,266 shares of the company’s stock, valued at $5,570,755.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Thomas A. Kennedy sold 44,778 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $215.90, for a total value of $9,667,570.20. Following the sale, the chairman now directly owns 138,339 shares in the company, valued at approximately $29,867,390.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,866 shares of company stock worth $22,730,714. 0.19% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RTN. Stonehearth Capital Management LLC bought a new position in shares of Raytheon during the fourth quarter worth about $103,000. Rowland & Co. Investment Counsel ADV bought a new position in shares of Raytheon during the fourth quarter worth about $106,000. Global Trust Asset Management LLC bought a new position in shares of Raytheon during the fourth quarter worth about $136,000. Certified Advisory Corp bought a new position in shares of Raytheon during the fourth quarter worth about $174,000. Finally, Risk Paradigm Group LLC grew its holdings in shares of Raytheon by 120.9% during the fourth quarter. Risk Paradigm Group LLC now owns 963 shares of the aerospace company’s stock worth $181,000 after buying an additional 527 shares in the last quarter. 73.53% of the stock is currently owned by institutional investors.

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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.

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