Stephen J. Hadley Sells 800 Shares of Raytheon (RTN) Stock

Raytheon (NYSE:RTN) Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $203.31, for a total transaction of $162,648.00. Following the sale, the director now owns 10,845 shares in the company, valued at approximately $2,204,896.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Raytheon (NYSE:RTN) opened at $209.53 on Wednesday. Raytheon has a one year low of $148.65 and a one year high of $213.45. The company has a quick ratio of 1.46, a current ratio of 1.54 and a debt-to-equity ratio of 0.48. The company has a market cap of $60,570.00, a price-to-earnings ratio of 30.19, a PEG ratio of 1.94 and a beta of 0.76.

Raytheon (NYSE:RTN) last issued its earnings results on Thursday, January 25th. The aerospace company reported $2.03 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.01. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter last year, the firm posted $1.84 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. sell-side analysts forecast that Raytheon will post 9.65 earnings per share for the current year.

Raytheon declared that its Board of Directors has approved a share buyback plan on Wednesday, November 15th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

RTN has been the topic of a number of analyst reports. Buckingham Research raised their target price on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Robert W. Baird restated a “buy” rating and set a $212.00 target price on shares of Raytheon in a research report on Tuesday, October 24th. Cowen restated a “buy” rating and set a $203.00 target price on shares of Raytheon in a research report on Thursday, October 26th. Wells Fargo & Co decreased their target price on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $210.00 price target on shares of Raytheon in a research note on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Raytheon has a consensus rating of “Buy” and a consensus price target of $210.77.

Several hedge funds have recently modified their holdings of RTN. Signature Estate & Investment Advisors LLC acquired a new stake in Raytheon during the 3rd quarter valued at $103,000. Stonehearth Capital Management LLC acquired a new stake in Raytheon during the 4th quarter valued at $103,000. Rowland & Co. Investment Counsel ADV acquired a new stake in Raytheon during the 4th quarter valued at $106,000. Global Trust Asset Management LLC acquired a new stake in Raytheon during the 4th quarter valued at $136,000. Finally, Invictus RG acquired a new stake in Raytheon during the 3rd quarter valued at $152,000. 72.66% of the stock is currently owned by institutional investors and hedge funds.

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About Raytheon

Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.

Insider Buying and Selling by Quarter for Raytheon (NYSE:RTN)

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