Boston Advisors LLC Has $930,000 Position in Raytheon Co. (RTN)
Boston Advisors LLC cut its position in shares of Raytheon Co. (NYSE:RTN) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 6,842 shares of the company’s stock after selling 10 shares during the period. Boston Advisors LLC’s holdings in Raytheon were worth $930,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in RTN. Cullen Frost Bankers Inc. raised its stake in Raytheon by 19.6% in the second quarter. Cullen Frost Bankers Inc. now owns 128,428 shares of the company’s stock worth $17,460,000 after buying an additional 21,009 shares during the last quarter. Prospera Financial Services Inc raised its stake in Raytheon by 12.6% in the second quarter. Prospera Financial Services Inc now owns 2,380 shares of the company’s stock worth $324,000 after buying an additional 266 shares during the last quarter. Genesee Valley Trust Co. raised its stake in Raytheon by 2.4% in the second quarter. Genesee Valley Trust Co. now owns 2,965 shares of the company’s stock worth $403,000 after buying an additional 70 shares during the last quarter. HL Financial Services LLC raised its stake in Raytheon by 11.2% in the second quarter. HL Financial Services LLC now owns 6,347 shares of the company’s stock worth $863,000 after buying an additional 641 shares during the last quarter. Finally, Investment House LLC acquired a new stake in Raytheon during the second quarter worth about $218,000. Institutional investors own 77.90% of the company’s stock.
Raytheon Co. (NYSE:RTN) traded up 1.31% during midday trading on Monday, reaching $137.17. The company had a trading volume of 1,681,825 shares. The stock’s 50 day moving average price is $139.48 and its 200-day moving average price is $133.94. Raytheon Co. has a one year low of $108.83 and a one year high of $143.39. The firm has a market capitalization of $40.48 billion, a P/E ratio of 19.17 and a beta of 0.64.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.74 by $0.64. Raytheon had a net margin of 9.02% and a return on equity of 19.26%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same period in the previous year, the firm posted $1.65 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts anticipate that Raytheon Co. will post $7.41 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.7325 per share. The ex-dividend date is Monday, October 3rd. This represents a $2.93 annualized dividend and a yield of 2.14%. Raytheon’s dividend payout ratio (DPR) is presently 40.86%.
Several analysts recently issued reports on RTN shares. Citigroup Inc. increased their price objective on Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Argus reiterated a “buy” rating and set a $161.00 price objective on shares of Raytheon in a report on Wednesday, August 3rd. Credit Suisse Group AG reiterated a “buy” rating and set a $151.00 price objective on shares of Raytheon in a report on Friday, July 29th. JPMorgan Chase & Co. set a $145.00 price objective on Raytheon and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Jefferies Group increased their price objective on Raytheon from $145.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Raytheon presently has an average rating of “Buy” and a consensus target price of $174.93.
In other Raytheon news, Director Vernon E. Clark sold 2,540 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $141.01, for a total transaction of $358,165.40. Following the sale, the director now directly owns 7,246 shares of the company’s stock, valued at approximately $1,021,758.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.21% of the company’s stock.
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.