Raytheon Co. (RTN) Stock Price Up 1.5%
Raytheon Co. (NYSE:RTN) shares rose 1.5% during trading on Tuesday . The stock traded as high as $137.33 and last traded at $136.90, with a volume of 3,127,437 shares changing hands. The stock had previously closed at $134.82.
RTN has been the topic of several research reports. Goldman Sachs Group Inc. raised their price objective on Raytheon from $123.00 to $130.00 and gave the company a “neutral” rating in a research report on Tuesday, April 12th. Sterne Agee CRT reissued a “buy” rating on shares of Raytheon in a research report on Monday, May 16th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Raytheon in a research report on Tuesday, June 7th. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $151.00 price objective on the stock in a research report on Monday. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Raytheon in a research report on Thursday, June 9th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Raytheon currently has a consensus rating of “Buy” and a consensus target price of $167.99.
The company’s 50-day moving average price is $133.62 and its 200 day moving average price is $126.97. The company has a market capitalization of $41.00 billion and a P/E ratio of 21.41.
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, beating the consensus estimate of $1.38 by $0.05. The business earned $5.80 billion during the quarter, compared to analyst estimates of $5.45 billion. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 EPS. Analysts predict that Raytheon Co. will post $7.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 4th. Investors of record on Wednesday, July 6th will be paid a $0.7325 dividend. This represents a $2.93 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, July 1st.
In related news, CEO Thomas A. Kennedy sold 13,858 shares of Raytheon stock in a transaction on Monday, June 6th. The shares were 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 of the company’s stock, valued at approximately $11,961,500.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of 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.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. Essex Financial Services Inc. purchased a new position in Raytheon during the fourth quarter worth $1,099,000. Brown Advisory Inc. raised its position in Raytheon by 7.1% in the fourth quarter. Brown Advisory Inc. now owns 9,058 shares of the company’s stock worth $1,128,000 after buying an additional 604 shares in the last quarter. WFG Advisors LP raised its position 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. Bank of Hawaii raised its position in Raytheon by 34.8% in the fourth quarter. Bank of Hawaii now owns 10,073 shares of the company’s stock worth $1,254,000 after buying an additional 2,598 shares in the last quarter. Finally, OppenheimerFunds Inc. purchased a new position in Raytheon during the fourth quarter worth $1,281,000.
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.