Abner Herrman & Brock LLC raised its position in shares of Raytheon (NYSE:RTN) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,102 shares of the aerospace company’s stock after purchasing an additional 4,145 shares during the period. Raytheon accounts for approximately 2.9% of Abner Herrman & Brock LLC’s holdings, making the stock its 12th biggest position. Abner Herrman & Brock LLC’s holdings in Raytheon were worth $19,443,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Nuveen Asset Management LLC lifted its stake in shares of Raytheon by 11,865.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,593,864 shares of the aerospace company’s stock worth $277,141,000 after acquiring an additional 1,580,544 shares during the period. Thoroughbred Financial Services LLC lifted its stake in Raytheon by 17,408.1% during the second quarter. Thoroughbred Financial Services LLC now owns 1,107,038 shares of the aerospace company’s stock valued at $110,704,000 after purchasing an additional 1,100,715 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Raytheon by 1,380.9% during the second quarter. Point72 Asset Management L.P. now owns 876,706 shares of the aerospace company’s stock valued at $152,442,000 after purchasing an additional 817,506 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in Raytheon by 2,697.2% during the second quarter. Balyasny Asset Management LLC now owns 522,384 shares of the aerospace company’s stock valued at $90,832,000 after purchasing an additional 503,709 shares during the last quarter. Finally, Viking Global Investors LP acquired a new stake in Raytheon during the second quarter valued at approximately $78,321,000. 72.96% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Frank R. Jimenez sold 1,054 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total transaction of $189,720.00. Following the transaction, the vice president now owns 25,863 shares in the company, valued at approximately $4,655,340. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Randa G. Newsome sold 10,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the transaction, the vice president now owns 20,396 shares in the company, valued at approximately $3,773,463.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,469 shares of company stock worth $3,114,720. 0.18% of the stock is currently owned by company insiders.
RTN has been the topic of a number of recent analyst reports. Credit Suisse Group upgraded shares of Raytheon from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $188.00 to $230.00 in a report on Thursday, October 3rd. ValuEngine upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded shares of Raytheon from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $225.00 to $230.00 in a report on Monday, September 16th. Buckingham Research lowered shares of Raytheon from a “buy” rating to a “neutral” rating and cut their price target for the company from $265.00 to $195.00 in a report on Monday, June 24th. Finally, Sanford C. Bernstein lowered shares of Raytheon from an “outperform” rating to a “market perform” rating and set a $212.00 price target on the stock. in a report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $213.00.
Raytheon stock traded up $0.37 during trading hours on Friday, hitting $198.98. The company had a trading volume of 33,103 shares, compared to its average volume of 1,823,170. The firm has a market capitalization of $55.73 billion, a P/E 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. The firm’s fifty day moving average is $191.62 and its 200-day moving average is $182.91. Raytheon has a fifty-two week low of $144.27 and a fifty-two week high of $205.28.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.61 by $0.31. The firm 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.45 EPS. Analysts anticipate that Raytheon will post 11.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.9425 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $3.77 annualized dividend and a dividend yield of 1.89%. Raytheon’s dividend payout ratio (DPR) 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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