Raytheon Co. (RTN) Sees Large Volume Increase
Shares of Raytheon Co. (NYSE:RTN) saw strong trading volume on Tuesday . 1,676,306 shares traded hands during trading, a decline of 18% from the previous session’s volume of 2,049,023 shares.The stock last traded at $137.56 and had previously closed at $138.01.
A number of equities research analysts have commented on the company. Royal Bank Of Canada raised their price target on Raytheon from $147.00 to $148.00 and gave the company a “top pick” rating in a report on Friday, April 29th. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a report on Tuesday. Goldman Sachs Group Inc. lifted their target price on Raytheon from $130.00 to $131.00 and gave the stock a “neutral” rating in a report on Monday, May 2nd. Barclays PLC lifted their target price on Raytheon from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Monday, May 2nd. Finally, Sanford C. Bernstein lifted their target price on Raytheon from $148.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, May 2nd. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $167.99.
The stock has a market capitalization of $40.97 billion and a PE ratio of 21.39. The stock’s 50 day moving average price is $135.72 and its 200 day moving average price is $127.77.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, April 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.05. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.45 billion. During the same period last year, the firm posted $1.78 earnings per share. Raytheon’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts expect that Raytheon Co. will post $7.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 4th. Stockholders of record on Wednesday, July 6th will be given a dividend of $0.7325 per share. The ex-dividend date is Friday, July 1st. This represents a $2.93 annualized dividend and a dividend yield of 2.12%.
In related news, CFO Anthony F. O’brien sold 1,238 shares of Raytheon stock in a transaction on Monday, June 6th. The shares were sold at an average price of $133.35, for a total transaction of $165,087.30. Following the sale, the chief financial officer now directly owns 20,309 shares in the company, valued at approximately $2,708,205.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas A. Kennedy sold 13,858 shares of Raytheon stock in a transaction on Monday, June 6th. The stock was sold at an average price of $133.82, for a total transaction of $1,854,477.56. Following the sale, the chief executive officer now owns 89,385 shares in the company, valued at $11,961,500.70. The disclosure for this sale can be found here.
A number of large investors recently made changes to their positions in the company. FTB Advisors Inc. raised its stake in shares of Raytheon by 1.1% in the fourth quarter. FTB Advisors Inc. now owns 13,056 shares of the company’s stock valued at $1,625,000 after buying an additional 136 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Raytheon by 0.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,672 shares of the company’s stock valued at $2,450,000 after buying an additional 169 shares in the last quarter. BOKF NA raised its stake in shares of Raytheon by 0.5% in the fourth quarter. BOKF NA now owns 48,155 shares of the company’s stock valued at $5,997,000 after buying an additional 222 shares in the last quarter. Tredje AP fonden raised its stake in shares of Raytheon by 1.4% in the fourth quarter. Tredje AP fonden now owns 19,767 shares of the company’s stock valued at $2,462,000 after buying an additional 280 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Raytheon by 0.5% in the fourth quarter. KBC Group NV now owns 59,530 shares of the company’s stock valued at $7,413,000 after buying an additional 298 shares in the last quarter.
Raytheon Company, together with its subsidiaries, is a technology Company that specializes in defense and other Government markets. The Company develops products, services and solutions in markets: sensing; effects; command, control, communications and intelligence (C3I); and mission support, as well as cyber and information security.
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