Raytheon Company (NYSE:RTN) Stake Reduced by Russell Investments Group Ltd.
Russell Investments Group Ltd. decreased its stake in Raytheon Company (NYSE:RTN) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 730,250 shares of the aerospace company’s stock after selling 16,641 shares during the period. Russell Investments Group Ltd.’s holdings in Raytheon were worth $117,926,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of RTN. St. Johns Investment Management Company LLC acquired a new position in Raytheon during the second quarter valued at approximately $113,000. Crestwood Advisors Group LLC acquired a new position in Raytheon during the first quarter valued at approximately $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 valued at $111,000 after buying an additional 445 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Raytheon during the first quarter valued at approximately $111,000. Finally, Jacobi Capital Management LLC boosted its position in Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after buying an additional 553 shares during the last quarter. Institutional investors and hedge funds own 74.98% of the company’s stock.
Raytheon Company (NYSE RTN) traded up 0.97% during midday trading on Friday, hitting $179.35. The stock had a trading volume of 1,930,579 shares. The company has a market capitalization of $52.06 billion, a PE ratio of 24.77 and a beta of 0.59. The stock’s 50-day moving average is $168.59 and its 200-day moving average is $158.50. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $181.05. Raytheon also saw unusually large options trading on Thursday. Stock traders bought 14,447 call options on the stock. This represents an increase of approximately 901% compared to the average daily volume of 1,443 call options.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $2.38 earnings per share. Equities research analysts forecast that Raytheon Company will post $7.59 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were given a $0.7975 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $3.19 annualized dividend and a yield of 1.78%. Raytheon’s dividend payout ratio is currently 43.94%.
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Several equities analysts recently commented on the company. Argus restated a “buy” rating and set a $195.00 target price (up from $175.00) on shares of Raytheon in a research report on Friday, August 4th. BidaskClub upgraded Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Buckingham Research boosted their target price on Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley assumed coverage on Raytheon in a research report on Tuesday, August 8th. They set an “equal weight” rating and a $188.00 target price for the company. Finally, Robert W. Baird restated an “outperform” rating and set a $212.00 target price (up from $170.00) on shares of Raytheon in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $182.49.
In other Raytheon news, VP Taylor W. Lawrence sold 2,756 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $162.04, for a total value of $446,582.24. Following the completion of the sale, the vice president now owns 53,285 shares of the company’s stock, valued at $8,634,301.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert E. Beauchamp acquired 1,162 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was purchased at an average cost of $171.99 per share, with a total value of $199,852.38. Following the purchase, the director now owns 4,303 shares of the company’s stock, valued at $740,072.97. The disclosure for this purchase can be found here. In the last quarter, insiders sold 15,911 shares of company stock valued at $2,580,752. 0.19% of the stock is currently owned by company 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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