Short Interest in Raytheon (NYSE:RTN) Expands By 9.2%

Raytheon (NYSE:RTN) was the target of a large growth in short interest in November. As of November 29th, there was short interest totalling 6,410,000 shares, a growth of 9.2% from the November 14th total of 5,870,000 shares. Based on an average daily trading volume, of 1,560,000 shares, the short-interest ratio is presently 4.1 days. Approximately 2.3% of the shares of the stock are sold short.

In related news, VP Frank R. Jimenez sold 2,500 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $196.76, for a total value of $491,900.00. Following the sale, the vice president now directly owns 25,504 shares in the company, valued at approximately $5,018,167.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Randa G. Newsome sold 4,300 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $199.10, for a total transaction of $856,130.00. Following the completion of the sale, the vice president now owns 18,281 shares in the company, valued at $3,639,747.10. The disclosure for this sale can be found here. Insiders sold a total of 7,300 shares of company stock worth $1,455,770 over the last quarter. Insiders own 0.18% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of RTN. Liberty Wealth Management LLC increased its position in Raytheon by 312.5% during the 3rd quarter. Liberty Wealth Management LLC now owns 132 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Bridger Capital Management LLC acquired a new stake in Raytheon during the 3rd quarter worth approximately $26,000. Garrett Wealth Advisory Group LLC acquired a new stake in Raytheon during the 3rd quarter worth approximately $32,000. Sound Income Strategies LLC increased its position in Raytheon by 95.3% during the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 81 shares in the last quarter. Finally, First Financial Corp IN acquired a new stake in Raytheon during the 3rd quarter worth approximately $33,000. 74.30% of the stock is owned by institutional investors.

A number of research analysts have issued reports on the stock. ValuEngine lowered shares of Raytheon from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Cowen restated a “buy” rating and issued a $225.00 target price on shares of Raytheon in a report on Thursday, October 24th. Sanford C. Bernstein upped their target price on shares of Raytheon from $212.00 to $225.00 and gave the company a “positive” rating in a report on Friday, October 25th. Wolfe Research set a $221.00 target price on shares of Raytheon and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Barclays set a $215.00 target price on shares of Raytheon and gave the company a “hold” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $217.76.

NYSE:RTN traded down $0.79 on Friday, reaching $217.40. The stock had a trading volume of 928,145 shares, compared to its average volume of 1,088,343. The company has a market cap of $60.76 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 1.72 and a beta of 0.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.54 and a quick ratio of 1.44. The firm’s fifty day moving average is $216.02 and its two-hundred day moving average is $193.21. Raytheon has a 12-month low of $144.27 and a 12-month high of $220.03.

Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $3.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.86 by $0.22. Raytheon had a net margin of 11.47% and a return on equity of 27.23%. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the company posted $2.25 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts forecast that Raytheon will post 11.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Tuesday, January 7th. Raytheon’s dividend payout ratio is currently 35.53%.

About Raytheon

Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

Read More: Net Margin

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