Traders Sell Shares of Raytheon Co. (RTN) on Strength (RTN)
Investors sold shares of Raytheon Co. (NYSE:RTN) on strength during trading on Monday. $51.21 million flowed into the stock on the tick-up and $68.72 million flowed out of the stock on the tick-down, for a money net flow of $17.51 million out of the stock. Of all stocks tracked, Raytheon had the 0th highest net out-flow for the day. Raytheon traded up $0.71 for the day and closed at $140.24
Several brokerages recently commented on RTN. Barclays PLC boosted their price target on shares of Raytheon from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Monday, May 2nd. Sanford C. Bernstein boosted their price target on shares of Raytheon from $148.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, May 2nd. Royal Bank Of Canada reissued a “buy” rating on shares of Raytheon in a report on Saturday, April 30th. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, Jefferies Group boosted their price target on shares of Raytheon from $145.00 to $158.00 and gave the stock a “buy” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Raytheon currently has an average rating of “Buy” and an average price target of $171.54.
The stock has a 50 day moving average price of $136.52 and a 200 day moving average price of $128.66. The firm has a market cap of $41.69 billion and a P/E ratio of 19.58.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.64. The firm earned $6 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same quarter in the prior year, the business earned $1.65 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts anticipate that Raytheon Co. will post $7.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 4th. Stockholders of record on Wednesday, July 6th will be given a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, July 1st.
In other news, CEO Thomas A. Kennedy sold 13,858 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $133.82, for a total value of $1,854,477.56. Following the completion of the transaction, the chief executive officer now owns 89,385 shares in the company, valued at $11,961,500.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Taylor W. Lawrence sold 4,336 shares of the firm’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $133.80, for a total value of $580,156.80. Following the completion of the transaction, the vice president now owns 57,525 shares of the company’s stock, valued at approximately $7,696,845. The disclosure for this sale can be found here.
Other hedge funds recently bought and sold shares of the company. Mandatum Life Insurance Co Ltd bought a new stake in Raytheon during the fourth quarter worth approximately $3,085,000. Aberdeen Asset Management PLC UK boosted its stake in Raytheon by 6.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 228,371 shares of the company’s stock worth $26,784,000 after buying an additional 14,361 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 worth $1,197,000 after buying an additional 528 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Raytheon by 6.0% in the fourth quarter. Principal Financial Group Inc. now owns 411,336 shares of the company’s stock worth $51,224,000 after buying an additional 23,134 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Raytheon by 33.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,436,366 shares of the company’s stock worth $178,871,000 after buying an additional 360,266 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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