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.
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.
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.
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