Raytheon Company (NYSE:RTN) Stake Raised by Vanguard Group Inc.
Vanguard Group Inc. increased its stake in Raytheon Company (NYSE:RTN) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,910,520 shares of the aerospace company’s stock after buying an additional 989,986 shares during the period. Vanguard Group Inc. owned about 0.07% of Raytheon worth $3,341,355,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of RTN. Crestwood Advisors Group LLC bought a new stake in shares of Raytheon during the first quarter valued at $110,000. Oakworth Capital Inc. increased its stake in shares of Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock valued at $111,000 after buying an additional 445 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of Raytheon during the first quarter valued at $111,000. Orrstown Financial Services Inc. increased its stake in shares of Raytheon by 22.6% in the first quarter. Orrstown Financial Services Inc. now owns 759 shares of the aerospace company’s stock valued at $116,000 after buying an additional 140 shares in the last quarter. Finally, Adirondack Trust Co. increased its stake in shares of Raytheon by 7.1% in the first quarter. Adirondack Trust Co. now owns 803 shares of the aerospace company’s stock valued at $122,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.
Raytheon Company (RTN) traded down 0.16% during trading on Friday, hitting $173.87. 1,434,988 shares of the stock were exchanged. Raytheon Company has a one year low of $132.89 and a one year high of $174.60. The stock’s 50 day moving average is $165.60 and its 200-day moving average is $157.06. The company has a market cap of $50.47 billion, a price-to-earnings ratio of 24.02 and a beta of 0.59.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. The company had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $2.38 earnings per share. On average, equities research analysts expect that Raytheon Company will post $7.58 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th were issued a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Friday, June 30th. Raytheon’s dividend payout ratio (DPR) is 43.94%.
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Several brokerages have recently weighed in on RTN. Argus restated a “buy” rating and set a $195.00 price objective (up previously from $175.00) on shares of Raytheon in a research report on Friday. Stifel Nicolaus restated a “buy” rating and set a $185.00 price objective (up previously from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. BidaskClub downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $170.66 target price on the stock. in a report on Monday, June 19th. Finally, Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Raytheon has a consensus rating of “Buy” and a consensus price target of $176.56.
In other news, VP Wesley D. Kremer sold 1,010 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total transaction of $164,731.00. Following the transaction, the vice president now directly owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Beauchamp purchased 1,162 shares of the stock in a transaction dated Monday, July 31st. The shares were acquired at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the completion of the acquisition, the director now directly owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The disclosure for this purchase can be found here. Insiders have sold 15,911 shares of company stock worth $2,580,752 over the last three months. Corporate insiders own 0.19% of the company’s stock.
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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