OLD Point Trust & Financial Services N A lifted its stake in shares of Raytheon (NYSE:RTN) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,505 shares of the aerospace company’s stock after acquiring an additional 137 shares during the quarter. Raytheon makes up 3.8% of OLD Point Trust & Financial Services N A’s holdings, making the stock its 8th biggest holding. OLD Point Trust & Financial Services N A’s holdings in Raytheon were worth $7,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of RTN. HNP Capital LLC grew its stake in Raytheon by 0.6% in the first quarter. HNP Capital LLC now owns 9,030 shares of the aerospace company’s stock valued at $1,644,000 after acquiring an additional 57 shares during the period. Weatherly Asset Management L. P. lifted its holdings in shares of Raytheon by 0.4% in the first quarter. Weatherly Asset Management L. P. now owns 14,960 shares of the aerospace company’s stock valued at $2,724,000 after purchasing an additional 63 shares in the last quarter. Lodestar Investment Counsel LLC IL lifted its holdings in shares of Raytheon by 3.1% in the first quarter. Lodestar Investment Counsel LLC IL now owns 2,148 shares of the aerospace company’s stock valued at $391,000 after purchasing an additional 65 shares in the last quarter. CX Institutional lifted its holdings in shares of Raytheon by 23.4% in the first quarter. CX Institutional now owns 348 shares of the aerospace company’s stock valued at $63,000 after purchasing an additional 66 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Raytheon by 16.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 457 shares of the aerospace company’s stock valued at $83,000 after purchasing an additional 66 shares in the last quarter. Institutional investors own 74.24% of the company’s stock.
A number of research analysts have recently weighed in on the company. Vertical Research lowered Raytheon from a “buy” rating to a “hold” rating and dropped their target price for the company from $216.00 to $203.00 in a report on Tuesday, June 11th. Zacks Investment Research upgraded Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Monday, April 29th. Wolfe Research set a $205.00 target price on Raytheon and gave the company a “buy” rating in a report on Friday, April 26th. Jefferies Financial Group raised their target price on KeyCorp from $20.00 to $18.50 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Buckingham Research lowered Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the company from $93.00 to $81.00 in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $207.47.
Raytheon stock traded up $0.76 during mid-day trading on Tuesday, reaching $181.32. 2,087,996 shares of the company’s stock were exchanged, compared to its average volume of 2,006,401. The business has a fifty day simple moving average of $178.24. The company has a market capitalization of $50.84 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.37 and a beta of 0.87. Raytheon has a one year low of $144.27 and a one year high of $210.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.31.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, April 25th. The aerospace company reported $2.77 EPS for the quarter, topping the Zacks’ consensus estimate of $2.45 by $0.32. The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.58 billion. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. Raytheon’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $2.20 earnings per share. As a group, equities research analysts anticipate that Raytheon will post 11.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.9425 per share. The ex-dividend date is Tuesday, July 9th. This represents a $3.77 dividend on an annualized basis and a yield of 2.08%. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.
In other Raytheon news, VP Wesley D. Kremer sold 8,186 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $185.00, for a total value of $1,514,410.00. Following the sale, the vice president now directly owns 29,175 shares in the company, valued at $5,397,375. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.
Raytheon Company Profile
Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
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