LVM Capital Management Ltd. MI raised its position in shares of Raytheon (NYSE:RTN) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,370 shares of the aerospace company’s stock after acquiring an additional 4,174 shares during the period. Raytheon makes up 2.1% of LVM Capital Management Ltd. MI’s portfolio, making the stock its 21st biggest position. LVM Capital Management Ltd. MI’s holdings in Raytheon were worth $9,106,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. HNP Capital LLC grew its holdings in Raytheon by 0.6% in the first quarter. HNP Capital LLC now owns 9,030 shares of the aerospace company’s stock worth $1,644,000 after purchasing an additional 57 shares during the period. Weatherly Asset Management L. P. raised its stake in Raytheon by 0.4% during the 1st quarter. Weatherly Asset Management L. P. now owns 14,960 shares of the aerospace company’s stock worth $2,724,000 after acquiring an additional 63 shares during the period. Lodestar Investment Counsel LLC IL raised its position in shares of Raytheon by 3.1% during the first quarter. Lodestar Investment Counsel LLC IL now owns 2,148 shares of the aerospace company’s stock valued at $391,000 after buying an additional 65 shares during the last quarter. CX Institutional raised its position in shares of Raytheon by 23.4% during the first quarter. CX Institutional now owns 348 shares of the aerospace company’s stock valued at $63,000 after buying an additional 66 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew 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. 74.24% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Wesley D. Kremer sold 8,186 shares of the firm’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 completion of the sale, the vice president now owns 29,175 shares of the company’s stock, valued at $5,397,375. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.
Shares of NYSE RTN traded up $0.76 on Tuesday, hitting $181.32. The company had a trading volume of 2,087,996 shares, compared to its average volume of 2,006,401. Raytheon has a 12-month low of $144.27 and a 12-month high of $210.89. The company has a 50 day moving average price of $178.14. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.31. The firm has a market cap of $50.84 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 1.37 and a beta of 0.87.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.32. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. The firm had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. Raytheon’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts predict that Raytheon will post 11.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Tuesday, July 9th. Raytheon’s dividend payout ratio is presently 35.53%.
RTN has been the subject of several recent analyst reports. Wolfe Research set a $205.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a research note on Friday, April 26th. ValuEngine downgraded shares of WideOpenWest from a “hold” rating to a “sell” rating in a report on Friday, June 28th. UBS Group downgraded shares of Guangshen Railway Co. Ltd ADR Class H from a “buy” rating to a “neutral” rating in a report on Wednesday, April 3rd. 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 research report on Monday, June 24th. Finally, Jefferies Financial Group upped their price objective on KeyCorp from $20.00 to $18.50 and gave the stock a “buy” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. Raytheon has a consensus rating of “Buy” and an average target price of $207.47.
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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