Golden State Wealth Management LLC bought a new position in shares of Raytheon (NYSE:RTN) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,788 shares of the aerospace company’s stock, valued at approximately $508,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Alpha Omega Wealth Management LLC acquired a new position in Raytheon during the 1st quarter worth approximately $25,000. Athena Capital Advisors LLC acquired a new position in Raytheon during the 4th quarter worth approximately $26,000. Sontag Advisory LLC acquired a new position in Raytheon during the 4th quarter worth approximately $26,000. WP Advisors LLC acquired a new position in Raytheon during the 1st quarter worth approximately $26,000. Finally, Farmers National Bank acquired a new position in Raytheon during the 1st quarter worth approximately $27,000. 74.39% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Frank R. Jimenez sold 1,417 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $180.10, for a total value of $255,201.70. Following the completion of the transaction, the vice president now owns 30,748 shares in the company, valued at approximately $5,537,714.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael J. Wood sold 427 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $177.58, for a total transaction of $75,826.66. Following the completion of the transaction, the vice president now owns 13,165 shares of the company’s stock, valued at approximately $2,337,840.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,592 shares of company stock valued at $2,310,174. Company insiders own 0.18% of the company’s stock.
NYSE RTN opened at $177.35 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. Raytheon has a 52 week low of $144.27 and a 52 week high of $210.89. The company has a market cap of $49.57 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.35 and a beta of 0.92.
Raytheon (NYSE:RTN) last issued its 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. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter in the prior year, the business posted $2.20 EPS. The company’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 11.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, July 9th. Raytheon’s payout ratio is 35.53%.
Several research analysts have commented on RTN shares. Wolfe Research set a $205.00 price target on shares of Raytheon and gave the stock a “buy” rating in a report on Friday, April 26th. Vertical Research cut shares of Raytheon from a “buy” rating to a “hold” rating and lowered their price target for the stock from $216.00 to $203.00 in a report on Tuesday. UBS Group cut shares of 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 report on Wednesday, April 3rd. Jefferies Financial Group boosted their price target on shares of Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Stifel Nicolaus boosted their price target on shares of Raytheon from $205.00 to $218.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Raytheon currently has an average rating of “Buy” and a consensus 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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