Raytheon Co. (RTN) Stake Raised by Genesee Valley Trust Co.
Genesee Valley Trust Co. raised its position in Raytheon Co. (NYSE:RTN) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,965 shares of the company’s stock after buying an additional 70 shares during the period. Genesee Valley Trust Co.’s holdings in Raytheon were worth $403,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the company. Apex Capital Management increased its stake in shares of Raytheon by 7.0% in the first quarter. Apex Capital Management now owns 31,442 shares of the company’s stock worth $3,856,000 after buying an additional 2,070 shares during the last quarter. Wade G W & Inc. increased its stake in shares of Raytheon by 2.7% in the first quarter. Wade G W & Inc. now owns 2,562 shares of the company’s stock worth $314,000 after buying an additional 67 shares during the last quarter. Quantitative Systematic Strategies LLC increased its stake in shares of Raytheon by 27.6% in the first quarter. Quantitative Systematic Strategies LLC now owns 7,236 shares of the company’s stock worth $895,000 after buying an additional 1,567 shares during the last quarter. UMB Bank N A MO increased its stake in shares of Raytheon by 49.0% in the first quarter. UMB Bank N A MO now owns 116,104 shares of the company’s stock worth $14,238,000 after buying an additional 38,165 shares during the last quarter. Finally, Boston Advisors LLC increased its stake in shares of Raytheon by 3.4% in the first quarter. Boston Advisors LLC now owns 6,852 shares of the company’s stock worth $840,000 after buying an additional 225 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.
Raytheon Co. (NYSE:RTN) traded up 0.25% during midday trading on Thursday, reaching $139.47. The company had a trading volume of 1,009,532 shares. Raytheon Co. has a 12 month low of $105.20 and a 12 month high of $143.39. The firm has a market capitalization of $41.16 billion, a PE ratio of 19.49 and a beta of 0.66. The firm’s 50-day moving average price is $140.09 and its 200 day moving average price is $133.01.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, July 28th. The company reported $2.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.64. The firm earned $6 billion during the quarter, compared to analyst estimates of $5.83 billion. Raytheon had a return on equity of 19.26% and a net margin of 9.02%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 earnings per share. Equities analysts anticipate that Raytheon Co. will post $7.41 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Wednesday, October 5th will be paid a $0.7325 dividend. This represents a $2.93 annualized dividend and a yield of 2.10%. Raytheon’s payout ratio is currently 40.86%.
A number of brokerages recently issued reports on RTN. Argus reissued a “buy” rating and set a $161.00 price objective on shares of Raytheon in a research report on Wednesday, August 3rd. Citigroup Inc. raised their target price on Raytheon from $145.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Credit Suisse Group AG restated a “buy” rating and set a $151.00 target price on shares of Raytheon in a report on Friday, July 29th. JPMorgan Chase & Co. set a $145.00 target price on Raytheon and gave the company a “buy” rating in a report on Friday, July 29th. Finally, Jefferies Group raised their target price on Raytheon from $145.00 to $158.00 and gave the company a “buy” rating in a report on Friday, July 29th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $174.93.
In related news, Director Vernon E. Clark sold 2,540 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $141.01, for a total value of $358,165.40. Following the completion of the transaction, the director now directly owns 7,246 shares in the company, valued at $1,021,758.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by corporate insiders.
Raytheon Company Profile
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Co. (NYSE:RTN).
Receive News & Ratings for Raytheon Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Co. and related companies with MarketBeat.com's FREE daily email newsletter.