Raytheon Co. (RTN) Sets New 1-Year High at $142.56
Raytheon Co. (NYSE:RTN)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $142.56 and last traded at $142.33, with a volume of 1,568,528 shares. The stock had previously closed at $140.79.
Several equities analysts recently issued reports on the company. Sanford C. Bernstein lifted their price objective on Raytheon from $148.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, May 2nd. Barclays PLC lifted their price objective on Raytheon from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Monday, May 2nd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Raytheon in a report on Saturday, April 30th. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, Jefferies Group boosted their price target on Raytheon from $145.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $172.99.
The firm has a 50 day moving average of $137.80 and a 200 day moving average of $129.69. The company has a market capitalization of $42.00 billion and a P/E ratio of 19.89.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 28th. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.64. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.83 billion. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 earnings per share. On average, analysts expect that Raytheon Co. will post $7.41 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 4th. Stockholders of record on Wednesday, July 6th were paid a dividend of $0.7325 per share. This represents a $2.93 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Friday, July 1st.
In other news, CEO Thomas A. Kennedy sold 13,858 shares of the 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 sale, the chief executive officer now owns 89,385 shares in the company, valued at $11,961,500.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $165,087.30. Following the completion of the sale, the chief financial officer now 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.
Several hedge funds have added to or reduced their stakes in the stock. State of Tennessee Treasury Department raised its stake in Raytheon by 11.5% in the fourth quarter. State of Tennessee Treasury Department now owns 347,223 shares of the company’s stock worth $43,239,000 after buying an additional 35,918 shares during the last quarter. Gluskin Sheff & Assoc Inc. acquired a new stake in Raytheon during the fourth quarter worth about $4,242,000. Employees Retirement System of Texas raised its stake in Raytheon by 15.2% in the fourth quarter. Employees Retirement System of Texas now owns 186,900 shares of the company’s stock worth $23,275,000 after buying an additional 24,700 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Raytheon by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 799,140 shares of the company’s stock worth $99,523,000 after buying an additional 24,638 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Raytheon during the fourth quarter worth about $2,715,000.
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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