Wedbush Securities Inc. boosted its holdings in Raytheon (NYSE:RTN) by 13.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,716 shares of the aerospace company’s stock after buying an additional 820 shares during the period. Wedbush Securities Inc.’s holdings in Raytheon were worth $1,168,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC grew its position in Raytheon by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 3,729,683 shares of the aerospace company’s stock valued at $570,952,000 after acquiring an additional 186,460 shares in the last quarter. USS Investment Management Ltd grew its position in Raytheon by 5.7% in the first quarter. USS Investment Management Ltd now owns 1,527,946 shares of the aerospace company’s stock valued at $278,193,000 after acquiring an additional 82,955 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Raytheon in the first quarter valued at approximately $35,000. Mercer Global Advisors Inc. ADV acquired a new stake in Raytheon in the first quarter valued at approximately $949,000. Finally, Strategic Advisors LLC acquired a new stake in Raytheon in the first quarter valued at approximately $232,000. Hedge funds and other institutional investors own 74.71% of the company’s stock.
In other news, VP Randa G. Newsome sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the completion of the sale, the vice president now owns 20,396 shares of the company’s stock, valued at $3,773,463.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Wesley D. Kremer sold 8,186 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $185.00, for a total transaction of $1,514,410.00. Following the sale, the vice president now directly owns 29,175 shares of the company’s stock, valued at approximately $5,397,375. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.
Shares of RTN stock traded down $4.56 during mid-day trading on Wednesday, reaching $179.04. 23,325 shares of the company were exchanged, compared to its average volume of 1,982,296. Raytheon has a fifty-two week low of $144.27 and a fifty-two week high of $210.89. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $50.77 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.50 and a beta of 0.86. The company has a 50 day moving average price of $180.01.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.31. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The business had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the company earned $2.45 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, research analysts forecast that Raytheon will post 11.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Tuesday, July 9th. Raytheon’s payout ratio is currently 35.53%.
Several analysts have issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Wolfe Research set a $205.00 price objective on shares of Raytheon and gave the company a “buy” rating in a research report on Friday, April 26th. Vertical Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating and lowered their price objective for the company from $216.00 to $203.00 in a research report on Tuesday, June 11th. ValuEngine downgraded shares of Raytheon from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Finally, Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Raytheon currently has an average rating of “Buy” and an average target price of $209.80.
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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