Raytheon Company (RTN): Not All Is OK

The stock of Raytheon Company (NYSE:RTN) has been Reiterated to Buy by BofA/Merrill in its latest research note that was published on July 26. RTN has given a price target of $265 by BofA/Merrill, with other Wall Street analysts also giving their reports regarding the stock. Buckingham Research analysts have downgraded their rating of RTN stock from Buy to Neutral in a separate flash note to investors on June 24. Analysts at Vertical Research downgraded the stock to a Hold call from its previous Buy stance, in a research note that dated back to June 11.

Raytheon Company, which has current market capitalization of above $55 Billion, published its last quarter earnings on June 30, 2019.

RTN surged by $5.87 during the normal trading session on Thursday and reaching a high of $198.99 during the day while it closed the day at $197.45. The Raytheon stock had a high trading volume of 1.94 million shares on that day, which is high compared to the average daily volume of 1.89M shares. RTN has also gained 6.57% of its value over the past 7 days. However, the stock has surged by 11.48% in the 3 months of the year. Over the past six months meanwhile, it has gained 9.54% while it has added 28.76% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -0.77% from its 3 months high price. However, taking another look at RTN will indicate that it is trading +16.39% away from its 90-day low. Looking at the bigger picture, the Raytheon Company stock has dropped by -6.37% from its 52-week high while it has surged by +36.86% from its 52-week low price.

On August 28, 2019 Jimenez Frank R, VP, General Counsel, Secretary sold 1054 shares of the company. The average price for that transaction was $180 per share, which meant that Jimenez Frank R earned $189720 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Vice President, WAJSGRAS DAVID C selling 50000 shares of this stock on July 25, 2019. The average selling price for the stock was $190 per share, with the sold stock accruing $9500000. Following this transaction, the Vice President WAJSGRAS DAVID C now holds 20396 shares of the company, which is worth around $3938876.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 94.62%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 93.45%. Over the past 20 days, Raytheon’s Stochastic %K stood at 94.96% while its Stochastic %D was revealed to be 91.81%.