Pacer Advisors Inc. raised its stake in Raytheon (NYSE:RTN) by 10.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,827 shares of the aerospace company’s stock after buying an additional 2,839 shares during the period. Pacer Advisors Inc.’s holdings in Raytheon were worth $5,852,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Country Club Trust Company n.a. boosted its stake in shares of Raytheon by 7.4% during the second quarter. Country Club Trust Company n.a. now owns 46,543 shares of the aerospace company’s stock valued at $8,093,000 after purchasing an additional 3,216 shares in the last quarter. Clarius Group LLC acquired a new position in shares of Raytheon in the 1st quarter valued at $233,000. First Foundation Advisors boosted its holdings in shares of Raytheon by 27.9% in the 2nd quarter. First Foundation Advisors now owns 4,580 shares of the aerospace company’s stock valued at $796,000 after buying an additional 999 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Raytheon by 12.7% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 2,744 shares of the aerospace company’s stock valued at $447,000 after buying an additional 310 shares in the last quarter. Finally, Great Valley Advisor Group Inc. boosted its stake in Raytheon by 11.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 2,126 shares of the aerospace company’s stock worth $370,000 after purchasing an additional 216 shares during the period. Hedge funds and other institutional investors 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 stock was sold at an average price of $200.00, for a total value of $583,000.00. Following the sale, the vice president now owns 26,260 shares of the company’s stock, valued at approximately $5,252,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Frank R. Jimenez sold 2,500 shares of Raytheon stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $196.76, for a total value of $491,900.00. Following the completion of the sale, the vice president now directly owns 25,504 shares in the company, valued at approximately $5,018,167.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,469 shares of company stock worth $3,114,720. 0.18% of the stock is currently owned by insiders.
Several analysts have recently commented on RTN shares. Bank of America restated a “buy” rating and issued a $265.00 target price (up previously from $224.00) on shares of Raytheon in a research note on Friday, July 26th. UBS Group raised their target price on shares of Raytheon from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. ValuEngine upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group upgraded shares of Raytheon from a “neutral” rating to an “outperform” rating and increased their price target for the company from $188.00 to $230.00 in a report on Thursday, October 3rd. Finally, Sanford C. Bernstein downgraded shares of Raytheon from an “outperform” rating to a “market perform” rating and set a $212.00 price target for the company. in a report on Tuesday, September 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $213.00.
Shares of RTN traded up $1.03 during mid-day trading on Friday, hitting $199.65. The company had a trading volume of 232,174 shares, compared to its average volume of 1,823,170. The business’s 50-day simple moving average is $191.62 and its 200-day simple moving average is $182.91. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. Raytheon has a 1-year low of $144.27 and a 1-year high of $205.28. The stock has a market cap of $55.73 billion, a PE ratio of 18.82, a P/E/G ratio of 1.53 and a beta of 0.87.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.31. The firm had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $7.02 billion. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. Raytheon’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.45 earnings per share. On average, sell-side analysts expect that Raytheon will post 11.73 earnings per share for the current 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 issued a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 8th. Raytheon’s dividend payout ratio (DPR) is currently 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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