Insider Selling: Raytheon (NYSE:RTN) VP Sells 8,186 Shares of Stock
Raytheon (NYSE:RTN) VP Wesley D. Kremer sold 8,186 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $185.00, for a total value of $1,514,410.00. Following the transaction, the vice president now directly owns 29,175 shares in the company, valued at approximately $5,397,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NYSE:RTN opened at $177.00 on Thursday. Raytheon has a 12-month low of $144.27 and a 12-month high of $210.89. The company has a market cap of $52.03 billion, a PE ratio of 16.68, a PEG ratio of 1.42 and a beta of 0.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.31.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.32. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.58 billion. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 earnings per share. As a group, sell-side analysts predict that Raytheon will post 11.62 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Alpha Omega Wealth Management LLC bought a new stake in Raytheon during the first quarter worth $25,000. Loomis Sayles & Co. L P bought a new stake in Raytheon during the first quarter worth $25,000. Athena Capital Advisors LLC bought a new stake in Raytheon during the fourth quarter worth $26,000. Sontag Advisory LLC bought a new stake in Raytheon during the fourth quarter worth $26,000. Finally, WP Advisors LLC bought a new stake in Raytheon during the first quarter worth $26,000. Institutional investors and hedge funds own 74.39% of the company’s stock.
A number of equities analysts have weighed in on RTN shares. UBS Group downgraded Raytheon from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $220.00 to $200.00 in a research report on Wednesday, April 3rd. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a research report on Wednesday, April 17th. Wolfe Research set a $205.00 price target on Raytheon and gave the stock a “buy” rating in a research report on Friday, April 26th. Jefferies Financial Group boosted their price target on Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, ValuEngine raised Raytheon from a “sell” rating to a “hold” rating in a research report on Friday, June 7th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Raytheon has an average rating of “Buy” and an average target price of $208.36.
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Raytheon Company Profile
Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
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