Catamount Wealth Management grew its position in shares of Raytheon Company (NYSE:RTN) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,581 shares of the aerospace company’s stock after purchasing an additional 545 shares during the quarter. Raytheon makes up about 3.3% of Catamount Wealth Management’s holdings, making the stock its 9th largest position. Catamount Wealth Management’s holdings in Raytheon were worth $5,706,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. OxFORD Asset Management LLP grew its holdings in shares of Raytheon by 238.8% during the second quarter. OxFORD Asset Management LLP now owns 51,452 shares of the aerospace company’s stock worth $8,308,000 after purchasing an additional 36,265 shares during the last quarter. National Pension Service grew its holdings in shares of Raytheon by 12.1% during the second quarter. National Pension Service now owns 248,655 shares of the aerospace company’s stock worth $39,892,000 after purchasing an additional 26,830 shares during the last quarter. Abner Herrman & Brock LLC grew its holdings in shares of Raytheon by 8.2% during the second quarter. Abner Herrman & Brock LLC now owns 77,617 shares of the aerospace company’s stock worth $12,534,000 after purchasing an additional 5,866 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Raytheon by 13.9% during the second quarter. Kornitzer Capital Management Inc. KS now owns 6,720 shares of the aerospace company’s stock worth $1,085,000 after purchasing an additional 820 shares during the last quarter. Finally, Appleton Partners Inc. MA grew its holdings in shares of Raytheon by 13.7% during the second quarter. Appleton Partners Inc. MA now owns 8,345 shares of the aerospace company’s stock worth $1,348,000 after purchasing an additional 1,005 shares during the last quarter. 73.53% of the stock is currently owned by institutional investors.
Raytheon Company (NYSE RTN) traded up $1.35 during midday trading on Thursday, hitting $185.20. The company had a trading volume of 1,214,000 shares, compared to its average volume of 1,472,432. 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 Company has a 52-week low of $137.70 and a 52-week high of $191.36. The stock has a market capitalization of $53,148.65, a price-to-earnings ratio of 24.32, a P/E/G ratio of 2.50 and a beta of 0.58.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.07. The firm had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.79 earnings per share. equities analysts forecast that Raytheon Company will post 7.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd will be given a $0.7975 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $3.19 dividend on an annualized basis and a yield of 1.72%. Raytheon’s payout ratio is currently 42.88%.
Raytheon announced that its Board of Directors has approved a share buyback plan on Wednesday, November 15th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities analysts have issued reports on RTN shares. Robert W. Baird reaffirmed an “outperform” rating and set a $212.00 price objective (up previously from $170.00) on shares of Raytheon in a report on Thursday, August 10th. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Vetr lowered Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price target on the stock. in a report on Wednesday, August 30th. Buckingham Research raised their price target on Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Finally, Royal Bank Of Canada set a $193.00 price target on Raytheon and gave the stock a “buy” rating in a report on Monday, August 28th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $200.59.
In related news, Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $190.27, for a total value of $152,216.00. Following the completion of the sale, the director now owns 11,360 shares in the company, valued at $2,161,467.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction dated 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. In the last 90 days, insiders sold 1,545 shares of company stock valued at $291,955. 0.19% of the stock is owned by insiders.
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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