Raytheon Company (RTN) Shares Bought by Accurate Investment Solutions Inc.
Accurate Investment Solutions Inc. increased its position in Raytheon Company (NYSE:RTN) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,108 shares of the aerospace company’s stock after buying an additional 2 shares during the period. Accurate Investment Solutions Inc.’s holdings in Raytheon were worth $179,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock worth $3,341,355,000 after buying an additional 989,986 shares in the last quarter. BlackRock Inc. raised its stake in shares of Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after buying an additional 18,551,353 shares in the last quarter. State Street Corp raised its stake in shares of Raytheon by 2.6% in the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock worth $1,919,348,000 after buying an additional 313,435 shares in the last quarter. Morgan Stanley raised its stake in shares of Raytheon by 7.2% in the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock worth $684,945,000 after buying an additional 302,274 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Raytheon by 0.7% in the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock worth $537,996,000 after buying an additional 23,172 shares in the last quarter. Hedge funds and other institutional investors own 74.98% of the company’s stock.
Shares of Raytheon Company (RTN) traded up 2.27% during mid-day trading on Wednesday, reaching $178.77. 1,537,058 shares of the company traded hands. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $179.28. The firm has a 50-day moving average price of $166.61 and a 200 day moving average price of $157.42. The firm has a market capitalization of $51.89 billion, a price-to-earnings ratio of 24.69 and a beta of 0.59.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $2.38 EPS. On average, analysts anticipate that Raytheon Company will post $7.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th were paid a dividend of $0.7975 per share. The ex-dividend date was Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.82%. Raytheon’s payout ratio is 43.94%.
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A number of analysts have recently commented on RTN shares. Vetr upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $178.87 price target for the company in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price target for the company in a research note on Monday, May 1st. BidaskClub lowered shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Sanford C. Bernstein reiterated an “outperform” rating and issued a $183.00 price target (up from $180.00) on shares of Raytheon in a research note on Sunday, July 30th. Finally, Morgan Stanley started coverage on shares of Raytheon in a research note on Tuesday. They issued an “equal weight” rating and a $188.00 price target for the company. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $177.32.
In other news, VP Wesley D. Kremer sold 1,010 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total transaction of $164,731.00. Following the sale, the vice president now owns 23,136 shares of the company’s stock, valued at approximately $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 acquired 1,162 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were purchased at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the purchase, the director now directly owns 4,303 shares in the company, valued at $740,072.97. The disclosure for this purchase can be found here. Insiders have sold a total of 15,911 shares of company stock worth $2,580,752 in the last ninety days. 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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