Raytheon Company (RTN) Position Maintained by Carroll Financial Associates Inc.
Carroll Financial Associates Inc. maintained its stake in Raytheon Company (NYSE:RTN) during the second quarter, Holdings Channel reports. The fund owned 2,428 shares of the aerospace company’s stock at the end of the second quarter. Carroll Financial Associates Inc.’s holdings in Raytheon were worth $392,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Lodestar Investment Counsel LLC IL acquired a new stake in Raytheon during the second quarter worth approximately $276,000. First Midwest Bank Trust Division boosted its stake in Raytheon by 132.8% in the second quarter. First Midwest Bank Trust Division now owns 10,689 shares of the aerospace company’s stock worth $1,726,000 after buying an additional 6,097 shares during the period. HM Capital Management LLC boosted its stake in Raytheon by 0.5% in the second quarter. HM Capital Management LLC now owns 2,025 shares of the aerospace company’s stock worth $327,000 after buying an additional 10 shares during the period. Cypress Asset Management Inc. TX boosted its stake in Raytheon by 1.0% in the second quarter. Cypress Asset Management Inc. TX now owns 44,432 shares of the aerospace company’s stock worth $7,175,000 after buying an additional 458 shares during the period. Finally, Quantitative Systematic Strategies LLC boosted its stake in Raytheon by 24.5% in the second quarter. Quantitative Systematic Strategies LLC now owns 2,676 shares of the aerospace company’s stock worth $430,000 after buying an additional 526 shares during the period. Hedge funds and other institutional investors own 74.98% of the company’s stock.
Raytheon Company (RTN) traded up 0.97% on Friday, reaching $179.35. 1,930,579 shares of the company’s stock were exchanged. The company has a market cap of $52.06 billion, a P/E ratio of 24.77 and a beta of 0.59. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05. The firm has a 50 day moving average of $168.59 and a 200-day moving average of $158.50. Raytheon also was the target of some unusual options trading activity on Thursday. Investors purchased 14,447 call options on the stock. This is an increase of approximately 901% compared to the average volume of 1,443 call options.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.38 earnings per share. Equities analysts expect that Raytheon Company will post $7.59 EPS for the current fiscal year.
The company also recently disclosed 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. This represents a $3.19 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Friday, June 30th. Raytheon’s payout ratio is 43.94%.
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A number of research firms have recently commented on RTN. BidaskClub upgraded Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Buckingham Research raised their price target on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research note on Friday. Cowen and Company reaffirmed an “outperform” rating and issued a $189.00 price target (up from $182.00) on shares of Raytheon in a research note on Thursday. Robert W. Baird reaffirmed an “outperform” rating and issued a $212.00 price target (up from $170.00) on shares of Raytheon in a research note on Thursday. Finally, Morgan Stanley initiated coverage on shares of Raytheon in a research note on Tuesday, August 8th. They issued an “equal weight” rating and a $188.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Raytheon has an average rating of “Buy” and an average target price of $182.49.
In related news, CAO Michael J. Wood sold 1,442 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.98, for a total transaction of $235,017.16. Following the transaction, the chief accounting officer now owns 18,470 shares of the company’s stock, valued at $3,010,240.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert E. Beauchamp acquired 1,162 shares of Raytheon stock in a transaction that occurred on 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 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 in the last three months. 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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