AE Wealth Management LLC boosted its position in Raytheon (NYSE:RTN) by 9.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,343 shares of the aerospace company’s stock after buying an additional 1,868 shares during the quarter. AE Wealth Management LLC’s holdings in Raytheon were worth $4,187,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Liberty Wealth Management LLC grew its stake in Raytheon by 312.5% in the 3rd quarter. Liberty Wealth Management LLC now owns 132 shares of the aerospace company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. Bridger Capital Management LLC acquired a new stake in Raytheon in the 3rd quarter worth $26,000. Garrett Wealth Advisory Group LLC acquired a new stake in Raytheon in the 3rd quarter worth $32,000. Sound Income Strategies LLC grew its position in Raytheon by 95.3% in the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 81 shares during the last quarter. Finally, First Financial Corp IN acquired a new stake in Raytheon in the 3rd quarter worth $33,000. Institutional investors and hedge funds own 72.46% of the company’s stock.
Several research firms have issued reports on RTN. UBS Group set a $230.00 price target on shares of Raytheon and gave the stock a “hold” rating in a research report on Friday, October 25th. Cowen restated a “buy” rating and issued a $225.00 price target on shares of Raytheon in a research report on Thursday, October 24th. Sanford C. Bernstein raised their price target on shares of Raytheon from $212.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. Barclays set a $215.00 price target on shares of Raytheon and gave the stock a “hold” rating in a research report on Tuesday, October 8th. Finally, Bank of America restated a “buy” rating and issued a $265.00 price target (up from $224.00) on shares of Raytheon in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $217.94.
In other news, VP Randa G. Newsome sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $199.10, for a total transaction of $856,130.00. Following the completion of the transaction, the vice president now directly owns 18,281 shares of the company’s stock, valued at approximately $3,639,747.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Wesley D. Kremer sold 2,915 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $583,000.00. Following the transaction, the vice president now directly owns 26,260 shares of the company’s stock, valued at $5,252,000. The disclosure for this sale can be found here. Insiders have sold a total of 10,769 shares of company stock valued at $2,120,750 over the last ninety days. 0.18% of the stock is owned by insiders.
NYSE:RTN opened at $216.88 on Wednesday. The company has a 50-day moving average of $203.99 and a 200-day moving average of $187.27. The company has a market capitalization of $60.11 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.71 and a beta of 0.89. Raytheon has a 52 week low of $144.27 and a 52 week high of $218.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.44 and a current ratio of 1.54.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.22. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.29 billion. Raytheon had a net margin of 11.47% and a return on equity of 27.23%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $2.25 EPS. Sell-side analysts forecast that Raytheon will post 11.84 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Tuesday, October 8th. Raytheon’s payout ratio 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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