Raytheon (NYSE:RTN) Shares Sold by Fishman Jay A Ltd. MI

Fishman Jay A Ltd. MI trimmed its holdings in Raytheon (NYSE:RTN) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,600 shares of the aerospace company’s stock after selling 695 shares during the period. Raytheon accounts for 3.5% of Fishman Jay A Ltd. MI’s holdings, making the stock its 10th largest position. Fishman Jay A Ltd. MI’s holdings in Raytheon were worth $18,952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RTN. Delta Asset Management LLC TN raised its position in Raytheon by 5.3% during the third quarter. Delta Asset Management LLC TN now owns 940 shares of the aerospace company’s stock valued at $184,000 after purchasing an additional 47 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in shares of Raytheon by 39.1% during the third quarter. Farmers & Merchants Investments Inc. now owns 185 shares of the aerospace company’s stock worth $36,000 after buying an additional 52 shares in the last quarter. YorkBridge Wealth Partners LLC increased its holdings in shares of Raytheon by 1.8% during the third quarter. YorkBridge Wealth Partners LLC now owns 3,161 shares of the aerospace company’s stock worth $620,000 after buying an additional 55 shares in the last quarter. Cornerstone Advisors Inc. increased its holdings in shares of Raytheon by 8.2% during the third quarter. Cornerstone Advisors Inc. now owns 727 shares of the aerospace company’s stock worth $143,000 after buying an additional 55 shares in the last quarter. Finally, Wright Investors Service Inc. increased its holdings in shares of Raytheon by 0.7% during the second quarter. Wright Investors Service Inc. now owns 8,826 shares of the aerospace company’s stock worth $1,534,000 after buying an additional 57 shares in the last quarter. Institutional investors own 72.63% of the company’s stock.

Shares of Raytheon stock traded up $0.84 during trading on Friday, hitting $215.84. The company’s stock had a trading volume of 1,149,100 shares, compared to its average volume of 1,897,773. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.54 and a quick ratio of 1.44. Raytheon has a 52 week low of $144.27 and a 52 week high of $218.00. The stock has a market cap of $59.34 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 1.69 and a beta of 0.89. The stock has a 50-day moving average price of $202.76 and a two-hundred day moving average price of $186.79.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.22. Raytheon had a net margin of 11.47% and a return on equity of 27.23%. The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the firm posted $2.25 earnings per share. Raytheon’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts predict that Raytheon will post 11.84 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Wednesday, October 9th were paid a $0.9425 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $3.77 annualized dividend and a dividend yield of 1.75%. Raytheon’s dividend payout ratio is 35.53%.

Several research analysts have recently issued reports on the stock. Credit Suisse Group upped their price target on shares of Raytheon from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. UBS Group set a $230.00 price target on shares of Raytheon and gave the stock a “hold” rating in a report on Friday, October 25th. Cowen reiterated a “buy” rating and set a $225.00 price target on shares of Raytheon in a report on Thursday, October 24th. ValuEngine upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Barclays set a $215.00 price target on shares of Raytheon and gave the stock a “hold” rating in a report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Raytheon presently has a consensus rating of “Buy” and an average price target of $217.94.

In other Raytheon news, VP Frank R. Jimenez sold 1,054 shares of the company’s 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 sale, the vice president now owns 25,863 shares of the company’s stock, valued at $4,655,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Frank R. Jimenez sold 2,500 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $196.76, for a total transaction of $491,900.00. Following 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 three months, insiders sold 10,769 shares of company stock worth $2,120,750. 0.18% of the stock is currently owned by insiders.

About Raytheon

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.

See Also: Retained Earnings

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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