Teachers Advisors LLC boosted its stake in Raytheon Company (NYSE:RTN) by 8.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 776,489 shares of the aerospace company’s stock after acquiring an additional 60,851 shares during the quarter. Teachers Advisors LLC owned about 0.27% of Raytheon worth $125,387,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RTN. St. Johns Investment Management Company LLC purchased a new position in Raytheon in the 2nd quarter worth approximately $113,000. Jacobi Capital Management LLC boosted its holdings in Raytheon by 271.1% in the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after acquiring an additional 553 shares during the period. Tarbox Family Office Inc. boosted its holdings in Raytheon by 1,666.7% in the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock worth $128,000 after acquiring an additional 750 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in Raytheon in the 2nd quarter worth approximately $139,000. Finally, CWM LLC boosted its holdings in Raytheon by 7.4% in the 2nd quarter. CWM LLC now owns 916 shares of the aerospace company’s stock worth $148,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 73.74% of the company’s stock.
Shares of Raytheon Company (NYSE RTN) opened at 188.91 on Friday. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $189.39. The firm has a market capitalization of $54.83 billion, a price-to-earnings ratio of 26.09 and a beta of 0.59. The company’s 50 day moving average price is $183.79 and its 200 day moving average price is $168.10.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. During the same quarter last year, the firm earned $2.38 EPS. Raytheon’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts forecast that Raytheon Company will post $7.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be issued a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, October 11th. Raytheon’s payout ratio is presently 43.94%.
In other news, VP Frank R. Jimenez sold 650 shares of Raytheon stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total transaction of $121,725.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 500 shares of Raytheon stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total value of $90,970.00. Following the sale, the vice president now directly owns 29,292 shares in the company, valued at approximately $5,329,386.48. The disclosure for this sale can be found here. Insiders have sold a total of 5,770 shares of company stock worth $1,052,376 in the last three months. 0.19% of the stock is owned by insiders.
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A number of research firms have weighed in on RTN. Royal Bank Of Canada restated a “buy” rating and issued a $209.00 price target on shares of Raytheon in a report on Tuesday. ValuEngine cut Raytheon from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub upgraded Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Morgan Stanley began coverage on Raytheon in a report on Tuesday, August 8th. They issued an “equal weight” rating and a $188.00 price target for the company. Finally, Argus restated a “buy” rating and issued a $195.00 price target (up previously from $175.00) on shares of Raytheon in a report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Raytheon presently has a consensus rating of “Buy” and a consensus price target of $193.19.
Raytheon Company Profile
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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