Abner Herrman & Brock LLC increased its position in shares of Raytheon (NYSE:RTN) by 4.4% in the third quarter, HoldingsChannel reports. The firm owned 99,102 shares of the aerospace company’s stock after purchasing an additional 4,145 shares during the period. Raytheon makes up approximately 2.9% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 12th biggest holding. Abner Herrman & Brock LLC’s holdings in Raytheon were worth $19,443,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC increased its position in Raytheon by 95.3% in the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 81 shares in the last quarter. Weaver Consulting Group acquired a new stake in Raytheon in the 1st quarter valued at about $36,000. Berman Capital Advisors LLC increased its position in Raytheon by 74.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 94 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in Raytheon in the 1st quarter valued at about $46,000. Finally, Boston Partners acquired a new stake in Raytheon in the 2nd quarter valued at about $46,000. Institutional investors and hedge funds own 72.96% of the company’s stock.
In related news, VP Wesley D. Kremer sold 2,915 shares of Raytheon stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $583,000.00. Following the transaction, the vice president now owns 26,260 shares of the company’s stock, valued at approximately $5,252,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Frank R. Jimenez sold 1,054 shares of Raytheon stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total transaction of $189,720.00. Following the transaction, the vice president now directly owns 25,863 shares in the company, valued at approximately $4,655,340. The disclosure for this sale can be found here. Insiders have sold a total of 16,469 shares of company stock worth $3,114,720 in the last three months. 0.18% of the stock is owned by insiders.
RTN has been the subject of several research reports. UBS Group raised their price objective on shares of Raytheon from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. Buckingham Research cut shares of Raytheon from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $265.00 to $195.00 in a research report on Monday, June 24th. Credit Suisse Group upgraded shares of Raytheon from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $188.00 to $230.00 in a research report on Thursday, October 3rd. Bank of America restated a “buy” rating and issued a $265.00 price objective (up previously from $224.00) on shares of Raytheon in a research report on Friday, July 26th. Finally, ValuEngine raised shares of Raytheon from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Raytheon currently has a consensus rating of “Buy” and an average price target of $213.00.
Shares of NYSE RTN traded up $0.37 during mid-day trading on Friday, hitting $198.98. The company’s stock had a trading volume of 33,103 shares, compared to its average volume of 1,823,170. The stock has a market cap of $55.73 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 1.53 and a beta of 0.87. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.35. Raytheon has a one year low of $144.27 and a one year high of $205.28. The company’s fifty day simple moving average is $191.62 and its 200-day simple moving average is $182.91.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.31. The company had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.02 billion. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.45 EPS. On average, sell-side analysts predict that Raytheon will post 11.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Wednesday, October 9th will be paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 8th. Raytheon’s payout ratio is 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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