Bright Rock Capital Management LLC acquired a new stake in shares of Raytheon (NYSE:RTN) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 27,500 shares of the aerospace company’s stock, valued at approximately $4,782,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Raytheon by 2.3% during the 1st quarter. BlackRock Inc. now owns 23,365,818 shares of the aerospace company’s stock valued at $4,254,449,000 after buying an additional 527,708 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in Raytheon by 7.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,165,178 shares of the aerospace company’s stock valued at $758,397,000 after buying an additional 284,688 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Raytheon by 11.3% in the 4th quarter. Macquarie Group Ltd. now owns 3,975,205 shares of the aerospace company’s stock valued at $609,599,000 after purchasing an additional 402,785 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Raytheon by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 3,729,683 shares of the aerospace company’s stock valued at $570,952,000 after purchasing an additional 186,460 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Raytheon by 1.6% in the 1st quarter. Clearbridge Investments LLC now owns 3,018,011 shares of the aerospace company’s stock valued at $549,519,000 after purchasing an additional 47,460 shares in the last quarter. Institutional investors own 74.24% of the company’s stock.
Several research firms have recently commented on RTN. Buckingham Research lowered shares of Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the company from $93.00 to $81.00 in a report on Monday, June 24th. Wolfe Research set a $205.00 price target on shares of Raytheon and gave the company a “buy” rating in a report on Friday, April 26th. Zacks Investment Research upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Monday, April 29th. Jefferies Financial Group boosted their price target on shares of KeyCorp from $20.00 to $18.50 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, ValuEngine lowered shares of WideOpenWest from a “hold” rating to a “sell” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $207.47.
Shares of NYSE RTN traded up $0.76 during trading hours on Tuesday, hitting $181.32. 2,087,996 shares of the stock were exchanged, compared to its average volume of 2,006,401. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.43. The firm has a market capitalization of $50.84 billion, a P/E ratio of 17.09, a PEG ratio of 1.37 and a beta of 0.87. The firm’s fifty day simple moving average is $178.24. Raytheon has a 12 month low of $144.27 and a 12 month high of $210.89.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.45 by $0.32. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.58 billion. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. Raytheon’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 EPS. Research analysts predict that Raytheon will post 11.62 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 2.08%. The ex-dividend date is Tuesday, July 9th. Raytheon’s dividend payout ratio is presently 35.53%.
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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