Traders Sell Raytheon (RTN) on Strength (RTN)

Traders sold shares of Raytheon (NYSE:RTN) on strength during trading hours on Thursday. $65.50 million flowed into the stock on the tick-up and $94.51 million flowed out of the stock on the tick-down, for a money net flow of $29.01 million out of the stock. Of all equities tracked, Raytheon had the 0th highest net out-flow for the day. Raytheon traded up $2.80 for the day and closed at $213.94

RTN has been the subject of several recent research reports. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. ValuEngine upgraded Raytheon from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Cowen reiterated a “buy” rating and issued a $235.00 price target on shares of Raytheon in a research report on Tuesday, April 17th. Morgan Stanley lifted their price target on Raytheon from $224.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Robert W. Baird reiterated a “buy” rating and issued a $237.00 price target on shares of Raytheon in a research report on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $220.45.

The company has a market cap of $61.45 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 1.88 and a beta of 0.70. The company has a quick ratio of 1.52, a current ratio of 1.62 and a debt-to-equity ratio of 0.46.

Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, April 26th. The aerospace company reported $2.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.10 by $0.10. The company had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.21 billion. Raytheon had a return on equity of 22.69% and a net margin of 8.40%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $1.74 earnings per share. equities analysts anticipate that Raytheon will post 9.87 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 10th. Shareholders of record on Wednesday, April 11th were paid a dividend of $0.8675 per share. The ex-dividend date of this dividend was Tuesday, April 10th. This represents a $3.47 annualized dividend and a yield of 1.64%. This is a positive change from Raytheon’s previous quarterly dividend of $0.80. Raytheon’s payout ratio is 45.54%.

In other Raytheon news, VP Taylor W. Lawrence sold 1,088 shares of Raytheon stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $215.02, for a total transaction of $233,941.76. Following the completion of the sale, the vice president now owns 51,657 shares of the company’s stock, valued at $11,107,288.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anthony F. O’brien sold 10,503 shares of Raytheon stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $214.17, for a total value of $2,249,427.51. Following the sale, the chief financial officer now directly owns 35,328 shares of the company’s stock, valued at approximately $7,566,197.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,969 shares of company stock valued at $8,323,643. Corporate insiders own 0.19% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Suntrust Banks Inc. increased its holdings in shares of Raytheon by 2.8% in the first quarter. Suntrust Banks Inc. now owns 266,463 shares of the aerospace company’s stock worth $57,506,000 after buying an additional 7,356 shares during the period. Redwood Investments LLC increased its holdings in shares of Raytheon by 23.4% in the first quarter. Redwood Investments LLC now owns 11,699 shares of the aerospace company’s stock worth $2,525,000 after buying an additional 2,222 shares during the period. Worth Venture Partners LLC purchased a new position in shares of Raytheon in the first quarter worth about $261,000. Summit X LLC increased its holdings in shares of Raytheon by 35.7% in the first quarter. Summit X LLC now owns 3,328 shares of the aerospace company’s stock worth $717,000 after buying an additional 876 shares during the period. Finally, Amalgamated Bank increased its holdings in shares of Raytheon by 3.4% in the first quarter. Amalgamated Bank now owns 38,587 shares of the aerospace company’s stock worth $8,328,000 after buying an additional 1,261 shares during the period. 72.71% of the stock is owned by hedge funds and other institutional investors.

About Raytheon

Raytheon Company develops integrated products, services, and solutions for 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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