Investors Sell Raytheon Co. (RTN) on Strength (RTN)
Traders sold shares of Raytheon Co. (NYSE:RTN) on strength during trading hours on Friday. $90.03 million flowed into the stock on the tick-up and $175.28 million flowed out of the stock on the tick-down, for a money net flow of $85.25 million out of the stock. Of all equities tracked, Raytheon had the 0th highest net out-flow for the day. Raytheon traded up $1.47 for the day and closed at $139.53
Several analysts have commented on RTN shares. Barclays PLC reiterated a “neutral” rating on shares of Raytheon in a research report on Tuesday, May 3rd. Royal Bank Of Canada upped their target price on shares of Raytheon from $147.00 to $148.00 and gave the company a “top pick” rating in a research report on Friday, April 29th. Credit Suisse Group AG reiterated a “buy” rating and set a $151.00 target price on shares of Raytheon in a research report on Friday. JPMorgan Chase & Co. upped their target price on shares of Raytheon from $139.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Sanford C. Bernstein upped their price objective on shares of Raytheon from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, May 2nd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $171.54.
The firm’s 50-day moving average is $136.42 and its 200-day moving average is $128.45. The company has a market cap of $41.48 billion and a PE ratio of 19.48.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, July 28th. The company reported $2.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.64. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.83 billion. Raytheon’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 EPS. Equities analysts anticipate that Raytheon Co. will post $7.18 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 4th. Shareholders of record on Wednesday, July 6th will be given a dividend of $0.7325 per share. The ex-dividend date of this dividend is Friday, July 1st. This represents a $2.93 annualized dividend and a yield of 2.10%.
In other Raytheon news, CAO Michael J. Wood sold 2,582 shares of the stock in a transaction on Monday, June 6th. The shares were sold at an average price of $133.35, for a total transaction of $344,309.70. Following the completion of the sale, the chief accounting officer now owns 19,871 shares of the company’s stock, valued at approximately $2,649,797.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Anthony F. O’brien sold 1,238 shares of the 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 of the company’s stock, valued at approximately $2,708,205.15. The disclosure for this sale can be found here.
Other large investors recently bought and sold shares of the company. Brown Advisory Inc. boosted its stake in Raytheon by 7.1% in the fourth quarter. Brown Advisory Inc. now owns 9,058 shares of the company’s stock valued at $1,128,000 after buying an additional 604 shares in the last quarter. WFG Advisors LP boosted its stake in Raytheon by 5.8% in the fourth quarter. WFG Advisors LP now owns 9,615 shares of the company’s stock valued at $1,197,000 after buying an additional 528 shares in the last quarter. OppenheimerFunds Inc. bought a new stake in Raytheon during the fourth quarter valued at approximately $1,281,000. Pittenger & Anderson Inc. boosted its stake in Raytheon by 10,340.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 10,440 shares of the company’s stock valued at $1,300,000 after buying an additional 10,340 shares in the last quarter. Finally, BHF Kleinwort Benson Group S.A. bought a new stake in Raytheon during the fourth quarter valued at approximately $1,400,000.
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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