Raymond James Trust N.A. lowered its stake in shares of Raytheon Company (NYSE:RTN) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,968 shares of the aerospace company’s stock after selling 251 shares during the quarter. Raymond James Trust N.A.’s holdings in Raytheon were worth $1,933,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Stephens Inc. AR increased its holdings in shares of Raytheon by 3.3% during the second quarter. Stephens Inc. AR now owns 30,793 shares of the aerospace company’s stock valued at $4,972,000 after acquiring an additional 993 shares in the last quarter. Summit Global Investments increased its holdings in shares of Raytheon by 18.3% during the second quarter. Summit Global Investments now owns 3,940 shares of the aerospace company’s stock valued at $636,000 after acquiring an additional 610 shares in the last quarter. AJO LP increased its holdings in shares of Raytheon by 7.6% during the second quarter. AJO LP now owns 12,719 shares of the aerospace company’s stock valued at $2,054,000 after acquiring an additional 893 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Raytheon by 9.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 23,007 shares of the aerospace company’s stock valued at $3,714,000 after acquiring an additional 1,990 shares in the last quarter. Finally, Regal Investment Advisors LLC increased its holdings in shares of Raytheon by 1.9% during the second quarter. Regal Investment Advisors LLC now owns 1,722 shares of the aerospace company’s stock valued at $278,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 73.74% of the company’s stock.
Raytheon Company (RTN) opened at 187.22 on Thursday. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $188.62. The stock has a market cap of $54.34 billion, a price-to-earnings ratio of 25.86 and a beta of 0.59. The stock’s 50 day moving average price is $183.49 and its 200-day moving average price is $167.95.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. Raytheon’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.38 earnings per share. Equities research analysts predict that Raytheon Company will post $7.59 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be given a dividend of $0.7975 per share. The ex-dividend date of this dividend is Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a yield of 1.70%. Raytheon’s payout ratio is 43.94%.
In other Raytheon news, VP Taylor W. Lawrence sold 3,791 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $182.09, for a total transaction of $690,303.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Frank R. Jimenez sold 650 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,770 shares of company stock worth $1,052,376. 0.19% of the stock is owned by company insiders.
Several equities analysts have recently issued reports on RTN shares. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price objective on the stock in a report on Thursday, September 14th. ValuEngine upgraded shares of Raytheon from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Royal Bank Of Canada set a $193.00 price target on shares of Raytheon and gave the stock a “buy” rating in a report on Monday, August 28th. Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price target on the stock. in a report on Wednesday, August 30th. Finally, BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $193.19.
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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