Texas Yale Capital Corp. cut its holdings in Raytheon (NYSE:RTN) by 48.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,127 shares of the aerospace company’s stock after selling 9,623 shares during the period. Texas Yale Capital Corp.’s holdings in Raytheon were worth $1,761,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of RTN. Alpha Omega Wealth Management LLC acquired a new position in Raytheon during the 1st quarter valued at about $25,000. WP Advisors LLC purchased a new position in shares of Raytheon in the 1st quarter worth approximately $26,000. Farmers National Bank purchased a new position in shares of Raytheon in the 1st quarter worth approximately $27,000. Semmax Financial Advisors Inc. boosted its stake in shares of Raytheon by 148.6% in the 1st quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock worth $32,000 after buying an additional 104 shares during the last quarter. Finally, Destination Wealth Management boosted its stake in shares of Raytheon by 670.8% in the 1st quarter. Destination Wealth Management now owns 185 shares of the aerospace company’s stock worth $34,000 after buying an additional 161 shares during the last quarter. 74.90% of the stock is owned by hedge funds and other institutional investors.
RTN stock traded up $0.15 on Monday, hitting $179.42. The company had a trading volume of 792,916 shares, compared to its average volume of 1,961,550. Raytheon has a 12-month low of $144.27 and a 12-month high of $210.89. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average of $179.17. The company has a market capitalization of $49.93 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.44 and a beta of 0.86.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.31. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The firm had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the previous year, the firm posted $2.45 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts anticipate that Raytheon will post 11.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Tuesday, July 9th. Raytheon’s dividend payout ratio (DPR) is 35.53%.
In other news, VP Randa G. Newsome sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the transaction, the vice president now directly owns 20,396 shares of the company’s stock, valued at $3,773,463.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Wesley D. Kremer sold 8,186 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $185.00, for a total value of $1,514,410.00. Following the transaction, the vice president now directly owns 29,175 shares in the company, valued at $5,397,375. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.
A number of equities analysts have recently weighed in on the company. Wolfe Research set a $205.00 target price on Raytheon and gave the stock a “buy” rating in a research note on Friday, April 26th. Buckingham Research downgraded Raytheon from a “buy” rating to a “neutral” rating and cut their target price for the stock from $265.00 to $195.00 in a research note on Monday, June 24th. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. ValuEngine cut shares of Raytheon from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Finally, 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, June 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $209.80.
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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