Insider Selling: Raytheon (RTN) Director Sells 800 Shares of Stock

Raytheon (NYSE:RTN) Director Stephen J. Hadley sold 800 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $203.31, for a total transaction of $162,648.00. Following the sale, the director now owns 10,845 shares of the company’s stock, valued at approximately $2,204,896.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Raytheon (NYSE RTN) opened at $212.58 on Thursday. The firm has a market cap of $60,572.40, a PE ratio of 30.59, a P/E/G ratio of 1.99 and a beta of 0.77. Raytheon has a 1-year low of $148.65 and a 1-year high of $213.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.54 and a quick ratio of 1.46.

Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.01. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.81 billion. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 earnings per share. analysts forecast that Raytheon will post 9.65 EPS for the current fiscal year.

Raytheon announced that its board has authorized a stock repurchase program on Wednesday, November 15th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Several analysts have weighed in on RTN shares. Bank of America set a $220.00 target price on shares of Raytheon and gave the company a “buy” rating in a research note on Friday, October 27th. Royal Bank of Canada set a $225.00 price target on shares of Raytheon and gave the stock a “buy” rating in a research report on Thursday, November 16th. Buckingham Research upped their price target on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Wells Fargo & Co lowered their price target on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Finally, Robert W. Baird restated a “buy” rating and set a $212.00 price target on shares of Raytheon in a research report on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $210.77.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Raytheon by 1.7% in the second quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock worth $3,597,519,000 after purchasing an additional 367,898 shares during the period. BlackRock Inc. lifted its holdings in Raytheon by 6.2% in the fourth quarter. BlackRock Inc. now owns 21,240,939 shares of the aerospace company’s stock worth $3,990,111,000 after purchasing an additional 1,237,648 shares during the period. Bank of New York Mellon Corp lifted its holdings in Raytheon by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,182,034 shares of the aerospace company’s stock worth $785,594,000 after purchasing an additional 99,090 shares during the period. Geode Capital Management LLC lifted its holdings in Raytheon by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 3,486,232 shares of the aerospace company’s stock worth $653,684,000 after purchasing an additional 110,397 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Raytheon by 6.2% in the fourth quarter. Franklin Resources Inc. now owns 2,851,144 shares of the aerospace company’s stock worth $535,605,000 after purchasing an additional 166,467 shares during the period. 72.66% of the stock is owned by institutional investors and hedge funds.

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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.

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

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