Verity & Verity LLC cut its position in Raytheon Company (NYSE:RTN) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,296 shares of the aerospace company’s stock after selling 347 shares during the period. Raytheon accounts for 1.9% of Verity & Verity LLC’s investment portfolio, making the stock its 23rd largest holding. Verity & Verity LLC’s holdings in Raytheon were worth $6,399,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in RTN. Mastrapasqua Asset Management Inc. increased its position in shares of Raytheon by 2.4% in the 1st quarter. Mastrapasqua Asset Management Inc. now owns 54,647 shares of the aerospace company’s stock valued at $8,334,000 after purchasing an additional 1,265 shares during the last quarter. AE Wealth Management LLC purchased a new position in shares of Raytheon in the 1st quarter valued at $846,000. Comerica Securities Inc. grew its position in shares of Raytheon by 27.3% in the 1st quarter. Comerica Securities Inc. now owns 24,492 shares of the aerospace company’s stock valued at $3,735,000 after buying an additional 5,257 shares during the last quarter. InterOcean Capital LLC purchased a new position in shares of Raytheon in the 1st quarter valued at $207,000. Finally, Alliancebernstein L.P. grew its position in shares of Raytheon by 19.4% in the 1st quarter. Alliancebernstein L.P. now owns 1,500,760 shares of the aerospace company’s stock valued at $228,866,000 after buying an additional 244,216 shares during the last quarter. 74.24% of the stock is currently owned by institutional investors.
A number of research analysts recently commented on RTN shares. Argus reaffirmed a “buy” rating and issued a $195.00 target price (up from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Bank of America Corporation reaffirmed a “buy” rating and issued a $200.00 target price (up from $185.00) on shares of Raytheon in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $185.00 target price (up from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. Finally, Royal Bank Of Canada set a $193.00 target price on shares of Raytheon and gave the company a “buy” rating in a research report on Monday, August 28th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $200.18.
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In other news, VP Taylor W. Lawrence sold 3,791 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total value of $690,303.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was 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 a total of 4,941 shares of company stock valued at $902,999 in the last 90 days. Company insiders own 0.19% of the company’s stock.
Shares of Raytheon Company (NYSE RTN) opened at $182.85 on Thursday. Raytheon Company has a 52 week low of $137.70 and a 52 week high of $190.25. The firm has a market cap of $53,174.66, a price-to-earnings ratio of 24.33, a P/E/G ratio of 2.50 and a beta of 0.57. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.07. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter last year, the business earned $1.79 EPS. The business’s revenue was up 4.5% on a year-over-year basis. analysts forecast that Raytheon Company will post 7.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be paid a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.74%. Raytheon’s dividend payout ratio (DPR) is presently 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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