Verity & Verity LLC raised its holdings in shares of Raytheon (NYSE:RTN) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,606 shares of the aerospace company’s stock after buying an additional 830 shares during the period. Raytheon comprises 1.5% of Verity & Verity LLC’s investment portfolio, making the stock its 28th largest position. Verity & Verity LLC’s holdings in Raytheon were worth $6,983,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC lifted its position in Raytheon by 95.3% during the third quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock valued at $33,000 after buying an additional 81 shares in the last quarter. Weaver Consulting Group acquired a new position in Raytheon during the first quarter valued at approximately $36,000. Berman Capital Advisors LLC lifted its position in Raytheon by 74.6% during the second quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock valued at $38,000 after buying an additional 94 shares in the last quarter. LLBH Private Wealth Management LLC acquired a new position in Raytheon during the second quarter valued at approximately $43,000. Finally, Meridian Wealth Management LLC acquired a new position in Raytheon during the first quarter valued at approximately $46,000. 72.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RTN traded up $0.11 during mid-day trading on Friday, reaching $198.72. 2,142,982 shares of the stock traded hands, compared to its average volume of 1,922,461. The firm has a market cap of $55.73 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 1.53 and a beta of 0.87. The stock has a fifty day simple moving average of $191.62 and a 200 day simple moving average of $182.91. Raytheon has a 12-month low of $144.27 and a 12-month high of $205.28. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.41.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.31. The business had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.02 billion. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.45 earnings per share. On average, equities research analysts expect that Raytheon will post 11.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Wednesday, October 9th will be paid a $0.9425 dividend. The ex-dividend date is Tuesday, October 8th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 1.90%. Raytheon’s dividend payout ratio (DPR) is presently 35.53%.
RTN has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of Raytheon from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. raised shares of Raytheon from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $225.00 to $230.00 in a research report on Monday, September 16th. Buckingham Research lowered shares of Raytheon from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $265.00 to $195.00 in a research note on Monday, June 24th. Sanford C. Bernstein lowered shares of Raytheon from an “outperform” rating to a “market perform” rating and set a $212.00 price objective on the stock. in a research note on Tuesday, September 17th. Finally, Credit Suisse Group upgraded shares of Raytheon from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $188.00 to $230.00 in a research note on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Raytheon presently has an average rating of “Buy” and an average target price of $213.00.
In related news, VP Frank R. Jimenez sold 1,054 shares of Raytheon stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total value of $189,720.00. Following the completion of the sale, the vice president now owns 25,863 shares in the company, valued at $4,655,340. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Wesley D. Kremer sold 2,915 shares of Raytheon stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $583,000.00. Following the completion of the sale, the vice president now owns 26,260 shares of the company’s stock, valued at approximately $5,252,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,469 shares of company stock valued at $3,114,720. Insiders own 0.18% of the company’s stock.
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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