Affinity Investment Advisors LLC reduced its position in Raytheon Company (NYSE:RTN) by 15.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,754 shares of the aerospace company’s stock after selling 850 shares during the period. Affinity Investment Advisors LLC’s holdings in Raytheon were worth $887,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. St. Johns Investment Management Company LLC bought a new position in Raytheon in the 2nd quarter valued at about $113,000. Jacobi Capital Management LLC raised 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 valued at $114,000 after acquiring an additional 553 shares during the period. Tarbox Family Office Inc. raised 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 valued at $128,000 after acquiring an additional 750 shares during the period. Shine Investment Advisory Services Inc. bought a new position in Raytheon in the 2nd quarter valued at about $139,000. Finally, CWM LLC raised its holdings in Raytheon by 7.4% in the 2nd quarter. CWM LLC now owns 916 shares of the aerospace company’s stock valued at $148,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds own 74.24% of the company’s stock.
Several research firms have weighed in on RTN. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price target on the stock in a report on Thursday, September 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $199.00 target price (up from $188.00) on shares of Raytheon in a report on Monday, October 30th. They noted that the move was a valuation call. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price on the stock. in a report on Tuesday, August 15th. Wells Fargo & Company lowered their target price on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Finally, Buckingham Research raised their target price on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $199.24.
In other Raytheon news, VP Taylor W. Lawrence sold 3,791 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total value of $690,303.19. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $187.27, for a total transaction of $121,725.50. The disclosure for this sale can be found here. Insiders sold 4,941 shares of company stock worth $902,999 in the last 90 days. Company insiders own 0.19% of the company’s stock.
Raytheon Company (NYSE RTN) opened at $183.94 on Wednesday. The stock has a market cap of $53,324.99, a P/E ratio of 24.40, a P/E/G ratio of 2.51 and a beta of 0.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. Raytheon Company has a one year low of $137.70 and a one year high of $190.25.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same period last year, the firm posted $1.79 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. equities analysts anticipate that Raytheon Company will post 7.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th were given a $0.7975 dividend. The ex-dividend date was Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a yield of 1.73%. Raytheon’s dividend payout ratio is currently 42.88%.
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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