Crossmark Global Holdings Inc. Acquires New Holdings in Raytheon Company (RTN)
Crossmark Global Holdings Inc. acquired a new position in Raytheon Company (NYSE:RTN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 71,807 shares of the aerospace company’s stock, valued at approximately $13,398,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. IFC Holdings Incorporated FL grew its holdings in Raytheon by 33.8% in the third quarter. IFC Holdings Incorporated FL now owns 2,539 shares of the aerospace company’s stock worth $472,000 after purchasing an additional 642 shares during the period. Segment Wealth Management LLC grew its holdings in shares of Raytheon by 12.9% during the third quarter. Segment Wealth Management LLC now owns 18,245 shares of the aerospace company’s stock valued at $3,404,000 after buying an additional 2,088 shares during the last quarter. Calamos Advisors LLC grew its holdings in shares of Raytheon by 19.3% during the third quarter. Calamos Advisors LLC now owns 173,124 shares of the aerospace company’s stock valued at $32,301,000 after buying an additional 28,012 shares during the last quarter. Meyer Handelman Co. grew its holdings in shares of Raytheon by 108.4% during the third quarter. Meyer Handelman Co. now owns 15,838 shares of the aerospace company’s stock valued at $2,956,000 after buying an additional 8,238 shares during the last quarter. Finally, First National Bank & Trust Co. of Newtown purchased a new stake in shares of Raytheon during the third quarter valued at approximately $215,000. Institutional investors and hedge funds own 74.15% of the company’s stock.
In other Raytheon news, VP Frank R. Jimenez sold 650 shares of the stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director Vernon E. Clark sold 829 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the transaction, the director now owns 7,588 shares in the company, valued at $1,367,281.72. The disclosure for this sale can be found here. Insiders sold 5,770 shares of company stock worth $1,052,376 over the last quarter. Insiders own 0.19% of the company’s stock.
RTN has been the topic of a number of recent analyst reports. Buckingham Research increased their price target on shares of Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Robert W. Baird reiterated a “buy” rating and set a $212.00 price target on shares of Raytheon in a report on Tuesday, October 24th. Cowen and Company reiterated a “buy” rating and set a $203.00 price target on shares of Raytheon in a report on Thursday, October 26th. BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Finally, Wells Fargo & Company cut their price target on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Raytheon presently has an average rating of “Buy” and a consensus target price of $199.24.
Raytheon Company (NYSE RTN) opened at $184.81 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. Raytheon Company has a 52-week low of $137.70 and a 52-week high of $190.25. The firm has a market cap of $53,426.17, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 2.51 and a beta of 0.57.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.07. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The business had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same period last year, the firm earned $1.79 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. sell-side analysts predict that Raytheon Company will post 7.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th were given a $0.7975 dividend. The ex-dividend date was Wednesday, October 11th. This represents a $3.19 annualized dividend and a yield of 1.73%. Raytheon’s payout ratio is presently 42.88%.
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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