Raytheon Co. (RTN) Hits New 1-Year High at $139.93
Shares of Raytheon Co. (NYSE:RTN) hit a new 52-week high during trading on Tuesday . The stock traded as high as $139.93 and last traded at $138.68, with a volume of 497,904 shares. The stock had previously closed at $139.19.
Several analysts have recently commented on RTN shares. Goldman Sachs Group Inc. increased 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. Sterne Agee CRT restated a “buy” rating on shares of Raytheon in a report on Monday, May 16th. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $151.00 target price on the stock in a report on Monday, July 4th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Raytheon in a report on Tuesday, June 7th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Raytheon in a report on Thursday, June 9th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Raytheon presently has a consensus rating of “Buy” and a consensus price target of $167.99.
The stock has a market cap of $41.09 billion and a price-to-earnings ratio of 21.45. The stock’s 50 day moving average price is $134.37 and its 200 day moving average price is $127.23.
Raytheon (NYSE:RTN) last issued its quarterly earnings results 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 had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.45 billion. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 earnings per share. On average, equities research analysts expect that Raytheon Co. will post $7.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 4th. Investors of record on Wednesday, July 6th will be given a dividend of $0.7325 per share. This represents a $2.93 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, July 1st.
In other Raytheon news, CFO Anthony F. O’brien sold 1,238 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $133.35, for a total transaction of $165,087.30. Following the completion of the transaction, the chief financial officer now directly owns 20,309 shares of the company’s stock, valued at $2,708,205.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $344,309.70. Following the transaction, the chief accounting officer now directly owns 19,871 shares of the company’s stock, valued at $2,649,797.85. The disclosure for this sale can be found here.
Other institutional investors have recently made changes to their positions in the company. Creative Planning raised its position in shares of Raytheon by 10.5% in the fourth quarter. Creative Planning now owns 16,625 shares of the company’s stock valued at $2,070,000 after buying an additional 1,583 shares during the period. TD Asset Management Inc. raised its position in shares of Raytheon by 5.4% in the fourth quarter. TD Asset Management Inc. now owns 218,244 shares of the company’s stock valued at $27,178,000 after buying an additional 11,139 shares during the period. Toron Capital Markets Inc. raised its position in shares of Raytheon by 0.9% in the fourth quarter. Toron Capital Markets Inc. now owns 88,526 shares of the company’s stock valued at $11,024,000 after buying an additional 784 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Raytheon by 644.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 89,680 shares of the company’s stock valued at $11,168,000 after buying an additional 77,630 shares during the period. Finally, Busey Trust CO raised its position in shares of Raytheon by 2.6% in the fourth quarter. Busey Trust CO now owns 48,314 shares of the company’s stock valued at $6,016,000 after buying an additional 1,240 shares during the period.
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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