Insider Selling: Raytheon (NYSE:RTN) VP Sells 1,496 Shares of Stock

Raytheon (NYSE:RTN) VP Frank R. Jimenez sold 1,496 shares of Raytheon stock in a transaction on Friday, March 29th. The stock was sold at an average price of $181.58, for a total value of $271,643.68. Following the sale, the vice president now owns 28,613 shares of the company’s stock, valued at $5,195,548.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

NYSE RTN traded up $0.06 during trading hours on Friday, reaching $177.43. The stock had a trading volume of 2,048,065 shares, compared to its average volume of 1,956,448. The firm has a market cap of $52.94 billion, a P/E ratio of 16.72, a P/E/G ratio of 1.43 and a beta of 0.99. Raytheon has a 52-week low of $144.27 and a 52-week high of $214.76. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.41.

Raytheon (NYSE:RTN) last issued its earnings results on Thursday, April 25th. The aerospace company reported $2.77 EPS for the quarter, beating the Zacks’ consensus estimate of $2.45 by $0.32. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. Raytheon’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts expect that Raytheon will post 11.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Wednesday, April 10th will be issued a $0.9425 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This is an increase from Raytheon’s previous quarterly dividend of $0.87. This represents a $3.77 dividend on an annualized basis and a yield of 2.12%. Raytheon’s payout ratio is presently 35.53%.

Several analysts recently weighed in on RTN shares. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a report on Monday, December 31st. ValuEngine downgraded Raytheon from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. Susquehanna Bancshares started coverage on Raytheon in a report on Thursday, January 10th. They issued a “positive” rating and a $187.00 price objective for the company. Citigroup decreased their price objective on Raytheon from $230.00 to $208.00 and set a “buy” rating for the company in a report on Monday, January 14th. Finally, Argus restated a “buy” rating and issued a $200.00 price objective on shares of Raytheon in a report on Friday, February 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $209.92.

A number of large investors have recently made changes to their positions in RTN. JPMorgan Chase & Co. lifted its holdings in Raytheon by 10.5% in the third quarter. JPMorgan Chase & Co. now owns 1,039,876 shares of the aerospace company’s stock valued at $214,900,000 after acquiring an additional 99,186 shares during the period. Martingale Asset Management L P raised its stake in shares of Raytheon by 3.2% during the 3rd quarter. Martingale Asset Management L P now owns 249,803 shares of the aerospace company’s stock worth $51,625,000 after buying an additional 7,810 shares during the period. Standard Life Aberdeen plc raised its stake in shares of Raytheon by 64.9% during the 3rd quarter. Standard Life Aberdeen plc now owns 1,950,068 shares of the aerospace company’s stock worth $403,010,000 after buying an additional 767,198 shares during the period. New Vernon Investment Management LLC acquired a new position in shares of Raytheon during the 3rd quarter worth approximately $579,000. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Raytheon by 28.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,424 shares of the aerospace company’s stock worth $296,000 after buying an additional 313 shares during the period. 75.86% of the stock is owned by institutional investors.

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Raytheon Company Profile

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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