Institute for Wealth Management LLC. trimmed its holdings in Raytheon (NYSE:RTN) by 6.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,587 shares of the aerospace company’s stock after selling 426 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Raytheon were worth $1,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Garrett Wealth Advisory Group LLC acquired a new position in Raytheon during the 3rd quarter worth approximately $32,000. Sound Income Strategies LLC raised its stake in Raytheon by 95.3% during the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock worth $33,000 after buying an additional 81 shares during the period. First Financial Corp IN acquired a new position in Raytheon during the 3rd quarter worth approximately $33,000. Farmers & Merchants Investments Inc. raised its stake in Raytheon by 39.1% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 185 shares of the aerospace company’s stock worth $36,000 after buying an additional 52 shares during the period. Finally, Berman Capital Advisors LLC raised its stake in Raytheon by 74.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock worth $38,000 after buying an additional 94 shares during the period. 72.80% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the company. Wolfe Research set a $221.00 price target on Raytheon and gave the stock a “buy” rating in a research note on Friday. Barclays set a $215.00 price objective on Raytheon and gave the stock a “hold” rating in a report on Tuesday, October 8th. Cowen reissued a “buy” rating and set a $225.00 price objective on shares of Raytheon in a report on Thursday. Sanford C. Bernstein boosted their price objective on Raytheon from $212.00 to $225.00 and gave the stock a “positive” rating in a report on Friday. Finally, ValuEngine lowered Raytheon from a “hold” rating to a “sell” rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. Raytheon presently has an average rating of “Buy” and an average price target of $217.94.
In other Raytheon news, VP Randa G. Newsome sold 4,300 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $199.10, for a total transaction of $856,130.00. Following the sale, the vice president now owns 18,281 shares in the company, valued at $3,639,747.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 1,054 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total value of $189,720.00. Following the sale, the vice president now owns 25,863 shares in the company, valued at approximately $4,655,340. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,769 shares of company stock worth $2,120,750. Company insiders own 0.18% of the company’s stock.
Raytheon stock traded down $0.54 during trading on Monday, hitting $211.61. The stock had a trading volume of 1,456,860 shares, compared to its average volume of 1,915,032. Raytheon has a 1 year low of $144.27 and a 1 year high of $216.54. The company has a quick ratio of 1.35, a current ratio of 1.54 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average is $197.58 and its two-hundred day moving average is $184.54. The stock has a market cap of $58.82 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.69 and a beta of 0.87.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $3.08 EPS for the quarter, beating the consensus estimate of $2.86 by $0.22. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the business earned $2.25 earnings per share. Raytheon’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Raytheon will post 11.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.9425 per share. The ex-dividend date is Tuesday, October 8th. This represents a $3.77 annualized dividend and a dividend yield of 1.78%. Raytheon’s dividend payout ratio is currently 35.53%.
Raytheon Company Profile
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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