Renaissance Technologies LLC Has $196.60 Million Position in Raytheon Company (RTN)
Renaissance Technologies LLC increased its position in shares of Raytheon Company (NYSE:RTN) by 66.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,289,200 shares of the aerospace company’s stock after buying an additional 514,800 shares during the period. Renaissance Technologies LLC’s holdings in Raytheon were worth $196,603,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of RTN. Crestwood Advisors Group LLC bought a new position in shares of Raytheon during the first quarter worth about $110,000. Oakworth Capital Inc. boosted its position in Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock worth $111,000 after buying an additional 445 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Raytheon during the first quarter worth about $111,000. Orrstown Financial Services Inc. boosted its position in Raytheon by 22.6% in the first quarter. Orrstown Financial Services Inc. now owns 759 shares of the aerospace company’s stock worth $116,000 after buying an additional 140 shares in the last quarter. Finally, Adirondack Trust Co. boosted its position in Raytheon by 7.1% in the first quarter. Adirondack Trust Co. now owns 803 shares of the aerospace company’s stock worth $122,000 after buying an additional 53 shares in the last quarter. 74.98% of the stock is owned by institutional investors.
Raytheon Company (NYSE RTN) traded up 2.03% during trading on Wednesday, hitting $178.35. The stock had a trading volume of 860,770 shares. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $178.51. The company has a 50-day moving average of $166.61 and a 200 day moving average of $157.42. The company has a market cap of $51.77 billion, a price-to-earnings ratio of 24.63 and a beta of 0.59.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The business had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same quarter last year, the firm posted $2.38 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts anticipate that Raytheon Company will post $7.59 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Investors 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 annualized dividend and a yield of 1.82%. Raytheon’s dividend payout ratio is currently 43.94%.
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RTN has been the subject of a number of research analyst reports. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price target for the company. in a report on Tuesday, May 9th. Deutsche Bank AG lifted their price target on Raytheon from $156.00 to $160.00 and gave the company a “hold” rating in a report on Friday, April 28th. Royal Bank Of Canada reiterated a “buy” rating and issued a $181.00 price objective on shares of Raytheon in a research report on Friday, June 2nd. Finally, Stifel Nicolaus lifted their price objective on Raytheon from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $177.32.
In other Raytheon news, Director Robert E. Beauchamp bought 1,162 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average price of $171.99 per share, with a total value of $199,852.38. Following the completion of the purchase, the director now directly owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Taylor W. Lawrence sold 2,756 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $162.04, for a total value of $446,582.24. Following the sale, the vice president now directly owns 53,285 shares of the company’s stock, valued at approximately $8,634,301.40. The disclosure for this sale can be found here. Insiders have sold 15,911 shares of company stock valued at $2,580,752 in the last ninety days. 0.19% of the stock is currently owned by insiders.
Raytheon Company Profile
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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