Stephen J. Hadley Sells 800 Shares of Raytheon Company (RTN) Stock

Raytheon Company (NYSE:RTN) Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total transaction of $152,216.00. Following the completion of the transaction, the director now owns 11,360 shares in the company, valued at approximately $2,161,467.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Raytheon Company (NYSE:RTN) opened at $183.85 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. The stock has a market capitalization of $53,637.20, a PE ratio of 24.54, a PEG ratio of 2.52 and a beta of 0.58. Raytheon Company has a 52-week low of $137.70 and a 52-week high of $191.36.

Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same period last year, the company earned $1.79 EPS. Raytheon’s revenue for the quarter was up 4.5% on a year-over-year basis. research analysts expect that Raytheon Company will post 7.61 earnings per share for the current year.

Raytheon announced that its board has approved a stock repurchase program on Wednesday, November 15th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd will be issued a $0.7975 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a yield of 1.74%. Raytheon’s payout ratio is 42.88%.

A number of analysts recently commented on RTN shares. Vetr lowered Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price target for the company. in a research note on Tuesday, August 15th. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research note on Wednesday, September 20th. Cowen reaffirmed an “outperform” rating and issued a $189.00 price target (up previously from $182.00) on shares of Raytheon in a research note on Thursday, August 10th. ValuEngine lowered Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Stifel Nicolaus raised their price target on Raytheon from $185.00 to $195.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $200.59.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OxFORD Asset Management LLP grew its stake in shares of Raytheon by 238.8% during the 2nd quarter. OxFORD Asset Management LLP now owns 51,452 shares of the aerospace company’s stock valued at $8,308,000 after purchasing an additional 36,265 shares during the period. National Pension Service grew its stake in shares of Raytheon by 12.1% during the 2nd quarter. National Pension Service now owns 248,655 shares of the aerospace company’s stock valued at $39,892,000 after acquiring an additional 26,830 shares during the period. Abner Herrman & Brock LLC grew its stake in shares of Raytheon by 8.2% during the 2nd quarter. Abner Herrman & Brock LLC now owns 77,617 shares of the aerospace company’s stock valued at $12,534,000 after acquiring an additional 5,866 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in shares of Raytheon by 13.9% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,720 shares of the aerospace company’s stock valued at $1,085,000 after acquiring an additional 820 shares during the period. Finally, Appleton Partners Inc. MA grew its stake in shares of Raytheon by 13.7% during the 2nd quarter. Appleton Partners Inc. MA now owns 8,345 shares of the aerospace company’s stock valued at $1,348,000 after acquiring an additional 1,005 shares during the period. Institutional investors own 73.53% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Raytheon (NYSE:RTN)

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