Raytheon (NYSE:RTN) VP Michael J. Wood sold 1,974 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $208.07, for a total value of $410,730.18. Following the transaction, the vice president now owns 17,467 shares of the company’s stock, valued at approximately $3,634,358.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Raytheon (NYSE:RTN) opened at $212.58 on Thursday. 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 has a 52 week low of $148.65 and a 52 week high of $213.45. The company has a market capitalization of $61,450.00, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.97 and a beta of 0.76.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.01. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.81 billion. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.84 EPS. equities research analysts forecast that Raytheon will post 9.65 EPS for the current fiscal year.
Raytheon announced that its board has initiated a stock repurchase program on Wednesday, November 15th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. boosted its stake in Raytheon by 0.8% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,048 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 17 shares during the period. Omnia Family Wealth LLC boosted its stake in Raytheon by 2.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 1,326 shares of the aerospace company’s stock valued at $215,000 after purchasing an additional 30 shares during the period. Courier Capital LLC boosted its stake in Raytheon by 1.1% during the 2nd quarter. Courier Capital LLC now owns 2,772 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 30 shares during the period. Linscomb & Williams Inc. boosted its stake in Raytheon by 1.8% during the 2nd quarter. Linscomb & Williams Inc. now owns 1,734 shares of the aerospace company’s stock valued at $280,000 after purchasing an additional 30 shares during the period. Finally, Regal Investment Advisors LLC boosted its stake in Raytheon by 1.9% during the 2nd quarter. Regal Investment Advisors LLC now owns 1,722 shares of the aerospace company’s stock valued at $278,000 after purchasing an additional 32 shares during the period. Institutional investors own 72.66% of the company’s stock.
A number of brokerages have issued reports on RTN. Sanford C. Bernstein restated an “outperform” rating and issued a $199.00 price objective (up previously from $188.00) on shares of Raytheon in a report on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Co cut their target price on Raytheon from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Buckingham Research boosted their target price on Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Stifel Nicolaus boosted their target price on Raytheon from $185.00 to $195.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, Cowen reaffirmed a “buy” rating and set a $203.00 target price on shares of Raytheon in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $210.77.
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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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