Raytheon Co. (RTN) Position Held by Ironwood Financial llc
Ironwood Financial llc continued to hold its position in shares of Raytheon Co. (NYSE:RTN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,242 shares of the company’s stock at the end of the second quarter. Ironwood Financial llc’s holdings in Raytheon were worth $441,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of RTN. Sanders Capital LLC increased its position in shares of Raytheon by 0.8% in the second quarter. Sanders Capital LLC now owns 1,131,091 shares of the company’s stock worth $153,344,000 after buying an additional 9,071 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in Raytheon by 6.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 317,893 shares of the company’s stock worth $43,217,000 after buying an additional 19,421 shares during the period. Artemis Investment Management LLP boosted its stake in Raytheon by 60.4% in the second quarter. Artemis Investment Management LLP now owns 95,575 shares of the company’s stock worth $12,993,000 after buying an additional 35,975 shares during the period. Gluskin Sheff & Assoc Inc. boosted its stake in Raytheon by 90.1% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 106,910 shares of the company’s stock worth $14,534,000 after buying an additional 50,679 shares during the period. Finally, Royal Bank of Canada boosted its stake in Raytheon by 66.7% in the first quarter. Royal Bank of Canada now owns 1,136,397 shares of the company’s stock worth $139,356,000 after buying an additional 454,613 shares during the period. 77.89% of the stock is currently owned by hedge funds and other institutional investors.
Raytheon Co. (NYSE:RTN) traded up 0.25% during trading on Tuesday, hitting $137.63. 798,470 shares of the company traded hands. The company’s 50-day moving average is $138.18 and its 200 day moving average is $134.88. The firm has a market cap of $40.61 billion, a price-to-earnings ratio of 19.23 and a beta of 0.64. Raytheon Co. has a 52-week low of $111.60 and a 52-week high of $143.39.
Raytheon (NYSE:RTN) last announced its quarterly 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 company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.83 billion. Raytheon had a net margin of 9.02% and a return on equity of 19.26%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 earnings per share. On average, equities analysts anticipate that Raytheon Co. will post $7.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Wednesday, October 5th will be paid a $0.7325 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $2.93 annualized dividend and a yield of 2.13%. Raytheon’s dividend payout ratio is currently 40.86%.
RTN has been the subject of a number of recent analyst reports. Jefferies Group reiterated a “buy” rating on shares of Raytheon in a research note on Wednesday, July 6th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $151.00 target price for the company in a research note on Monday, July 4th. Stifel Nicolaus lifted their target price on shares of Raytheon from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Citigroup Inc. lifted their target price on shares of Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Finally, Argus reiterated a “buy” rating and issued a $161.00 target price on shares of Raytheon in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $174.67.
In other Raytheon news, Director Vernon E. Clark sold 2,540 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $141.01, for a total value of $358,165.40. Following the transaction, the director now directly owns 7,246 shares in the company, valued at $1,021,758.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is currently owned by company 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.