GM Advisory Group Inc. Has $298,000 Position in Raytheon Company (RTN)
GM Advisory Group Inc. boosted its holdings in Raytheon Company (NYSE:RTN) by 34.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,836 shares of the aerospace company’s stock after acquiring an additional 472 shares during the quarter. GM Advisory Group Inc.’s holdings in Raytheon were worth $298,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Raytheon by 1.7% in the second quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock valued at $3,597,519,000 after acquiring an additional 367,898 shares during the period. BlackRock Inc. increased its stake in Raytheon by 2.7% in the second quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock valued at $3,219,097,000 after acquiring an additional 527,139 shares during the period. State Street Corp increased its stake in Raytheon by 2.6% in the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock valued at $1,919,348,000 after acquiring an additional 313,435 shares during the period. Morgan Stanley increased its stake in Raytheon by 7.2% in the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock valued at $684,945,000 after acquiring an additional 302,274 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Raytheon by 0.7% in the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock valued at $537,996,000 after acquiring an additional 23,172 shares during the period. 73.62% of the stock is currently owned by institutional investors and hedge funds.
In other Raytheon news, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $187.27, for a total value of $121,725.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert E. Beauchamp bought 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, for a total transaction of $199,852.38. Following the completion of the acquisition, the director now owns 4,303 shares in the company, valued at $740,072.97. The disclosure for this purchase can be found here. Over the last three months, insiders sold 5,770 shares of company stock worth $1,052,376. Insiders own 0.19% of the company’s stock.
RTN has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 target price on the stock in a research note on Thursday, September 14th. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Royal Bank Of Canada set a $193.00 target price on shares of Raytheon and gave the company a “buy” rating in a research note on Monday, August 28th. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price on the stock. in a research note on Wednesday, August 30th. Finally, BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Raytheon has a consensus rating of “Buy” and a consensus target price of $193.19.
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Raytheon Company (NYSE:RTN) opened at 187.23 on Thursday. The firm has a market capitalization of $54.34 billion, a price-to-earnings ratio of 25.86 and a beta of 0.59. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $189.64. The firm has a 50-day moving average of $184.82 and a 200-day moving average of $169.25.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The firm had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. During the same period last year, the firm earned $2.38 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Raytheon Company will post $7.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be issued a $0.7975 dividend. This represents a $3.19 annualized dividend and a yield of 1.70%. The ex-dividend date is Wednesday, October 11th. Raytheon’s dividend payout ratio is currently 43.94%.
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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