Thomas A. Kennedy Sells 6,076 Shares of Raytheon (RTN) Stock

Raytheon (NYSE:RTN) Chairman Thomas A. Kennedy sold 6,076 shares of Raytheon stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $214.32, for a total transaction of $1,302,208.32. Following the transaction, the chairman now directly owns 53,458 shares of the company’s stock, valued at $11,457,118.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NYSE:RTN opened at $215.82 on Friday. The firm has a market cap of $62,265.37, a PE ratio of 28.32, a P/E/G ratio of 2.04 and a beta of 0.71. Raytheon has a 12-month low of $149.70 and a 12-month high of $222.82. The company has a quick ratio of 1.46, a current ratio of 1.54 and a debt-to-equity ratio of 0.48.

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Raytheon (NYSE:RTN) last issued its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.01. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.81 billion. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 earnings per share. analysts predict that Raytheon will post 9.66 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Wednesday, April 11th will be paid a dividend of $0.8675 per share. This is a positive change from Raytheon’s previous quarterly dividend of $0.80. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Tuesday, April 10th. Raytheon’s payout ratio is currently 41.86%.

RTN has been the subject of several recent analyst reports. Wells Fargo reaffirmed an “outperform” rating and set a $215.00 price objective (up from $202.00) on shares of Raytheon in a research note on Tuesday, January 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $210.00 price objective on shares of Raytheon in a research note on Tuesday, January 9th. Morgan Stanley lifted their price objective on shares of Raytheon from $224.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $219.83.

Several institutional investors and hedge funds have recently modified their holdings of RTN. Investment Centers of America Inc. raised its holdings in shares of Raytheon by 26.8% in the third quarter. Investment Centers of America Inc. now owns 2,635 shares of the aerospace company’s stock valued at $492,000 after acquiring an additional 557 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Raytheon in the fourth quarter valued at about $39,449,000. Marietta Wealth Management LLC raised its holdings in shares of Raytheon by 7.4% in the third quarter. Marietta Wealth Management LLC now owns 9,730 shares of the aerospace company’s stock valued at $1,815,000 after acquiring an additional 667 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of Raytheon by 151.1% in the third quarter. Independent Advisor Alliance now owns 4,289 shares of the aerospace company’s stock valued at $806,000 after acquiring an additional 2,581 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Raytheon by 97.5% in the third quarter. Artisan Partners Limited Partnership now owns 131,675 shares of the aerospace company’s stock valued at $24,568,000 after acquiring an additional 64,996 shares in the last quarter. 73.43% 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.

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

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