Town & Country Bank & Trust CO dba First Bankers Trust CO trimmed its stake in Raytheon (NYSE:RTN) by 9.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,392 shares of the aerospace company’s stock after selling 540 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Raytheon were worth $1,058,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC grew its position in Raytheon by 95.3% in the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 81 shares during the last quarter. Weaver Consulting Group acquired a new stake in Raytheon in the 1st quarter worth $36,000. Berman Capital Advisors LLC grew its position in Raytheon by 74.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 94 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in Raytheon in the 1st quarter worth $46,000. Finally, Boston Partners acquired a new stake in Raytheon in the 2nd quarter worth $46,000. Institutional investors own 72.96% of the company’s stock.
In related news, VP Randa G. Newsome sold 10,000 shares of Raytheon stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the completion of the transaction, the vice president now directly owns 20,396 shares of the company’s stock, valued at approximately $3,773,463.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Frank R. Jimenez sold 1,054 shares of Raytheon stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total transaction of $189,720.00. Following the transaction, the vice president now directly owns 25,863 shares of the company’s stock, valued at $4,655,340. The disclosure for this sale can be found here. Insiders have sold a total of 16,469 shares of company stock valued at $3,114,720 over the last three months. 0.18% of the stock is currently owned by insiders.
RTN has been the topic of several research analyst reports. UBS Group raised their price target on shares of Raytheon from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Buckingham Research lowered shares of Raytheon from a “buy” rating to a “neutral” rating and decreased their target price for the company from $265.00 to $195.00 in a research report on Monday, June 24th. Sanford C. Bernstein lowered shares of Raytheon from an “outperform” rating to a “market perform” rating and set a $212.00 target price on the stock. in a research report on Tuesday, September 17th. ValuEngine upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Bank of America reiterated a “buy” rating and set a $265.00 target price (up from $224.00) on shares of Raytheon in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Raytheon has a consensus rating of “Buy” and an average target price of $213.00.
Shares of Raytheon stock traded down $0.09 during trading on Friday, hitting $198.52. 442,616 shares of the company’s stock traded hands, compared to its average volume of 1,823,170. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.35. The firm’s fifty day moving average price is $191.62 and its 200 day moving average price is $182.91. Raytheon has a twelve month low of $144.27 and a twelve month high of $205.28. The company has a market cap of $55.73 billion, a PE ratio of 18.71, a PEG ratio of 1.53 and a beta of 0.87.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.31. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The firm had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the firm posted $2.45 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts anticipate that Raytheon will post 11.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Wednesday, October 9th will be issued a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, October 8th. Raytheon’s dividend payout ratio is currently 35.53%.
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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