Raytheon Co. (RTN) Hits New 1-Year High at $137.36
Raytheon Co. (NYSE:RTN) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $137.36 and last traded at $137.26, with a volume of 1,282,301 shares traded. The stock had previously closed at $136.70.
Several equities research analysts have recently issued reports on RTN shares. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Raytheon in a report on Thursday, June 9th. Sterne Agee CRT reaffirmed a “buy” rating on shares of Raytheon in a report on Monday, May 16th. Goldman Sachs Group Inc. lifted their target price on Raytheon from $123.00 to $130.00 and gave the stock a “neutral” rating in a report on Tuesday, April 12th. Guggenheim started coverage on Raytheon in a research note on Monday, April 4th. They set a “buy” rating and a $144.00 price objective on the stock. Finally, Jefferies Group reissued a “buy” rating on shares of Raytheon in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Raytheon currently has an average rating of “Buy” and an average target price of $167.99.
The firm has a market capitalization of $40.67 billion and a P/E ratio of 21.23. The company has a 50-day moving average price of $133.81 and a 200 day moving average price of $127.04.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, April 28th. The company reported $1.43 EPS for the quarter, beating the Zacks’ 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. During the same quarter in the previous year, the company posted $1.78 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. On average, analysts forecast that Raytheon Co. will post $7.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 4th. Shareholders of record on Wednesday, July 6th will be issued a $0.7325 dividend. The ex-dividend date of this dividend is Friday, July 1st. This represents a $2.93 dividend on an annualized basis and a yield of 2.14%.
In other news, VP Taylor W. Lawrence sold 4,336 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $133.80, for a total transaction of $580,156.80. Following the completion of the sale, the vice president now owns 57,525 shares in the company, valued at approximately $7,696,845. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas A. Kennedy sold 13,858 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $11,961,500.70. The disclosure for this sale can be found here.
Other hedge funds have recently made changes to their positions in the company. FTB Advisors Inc. increased 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 worth $1,625,000 after buying an additional 136 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased 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 worth $2,450,000 after buying an additional 169 shares in the last quarter. BOKF NA increased 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 worth $5,997,000 after buying an additional 222 shares in the last quarter. Stonebridge Capital Advisors LLC increased its stake in shares of Raytheon by 1.6% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 17,201 shares of the company’s stock worth $2,142,000 after buying an additional 277 shares in the last quarter. Finally, Tredje AP fonden increased 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 worth $2,462,000 after buying an additional 280 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.