FTB Advisors Inc. raised its position in Raytheon Company (NYSE:RTN) by 44.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,450 shares of the aerospace company’s stock after purchasing an additional 1,681 shares during the quarter. FTB Advisors Inc.’s holdings in Raytheon were worth $912,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of RTN. St. Johns Investment Management Company LLC purchased a new position in shares of Raytheon during the second quarter worth approximately $113,000. Jacobi Capital Management LLC boosted its stake in shares of Raytheon by 271.1% during the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after purchasing an additional 553 shares in the last quarter. Tarbox Family Office Inc. boosted its stake in shares of Raytheon by 1,666.7% during the second quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after purchasing an additional 750 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Raytheon during the second quarter valued at approximately $139,000. Finally, CWM LLC boosted its stake in Raytheon by 7.4% in the second quarter. CWM LLC now owns 916 shares of the aerospace company’s stock valued at $148,000 after acquiring an additional 63 shares in the last quarter. 74.15% of the stock is currently owned by institutional investors.
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Shares of Raytheon Company (NYSE RTN) opened at $184.81 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. The company has a market cap of $53,426.17, a price-to-earnings ratio of 24.45, a PEG ratio of 2.51 and a beta of 0.57. Raytheon Company has a 52 week low of $137.70 and a 52 week high of $190.25.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating 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 firm had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same period last year, the firm posted $1.79 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. equities research analysts expect that Raytheon Company will post 7.61 earnings per share 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 dividend of $0.7975 per share. The ex-dividend date was Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a yield of 1.73%. Raytheon’s dividend payout ratio (DPR) is 42.88%.
Several equities research analysts have weighed in on the stock. Buckingham Research raised their target price on shares of Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a report on Monday, October 30th. J P Morgan Chase & Co cut their price objective on shares of Raytheon from $194.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, October 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $199.00 price objective (up previously from $188.00) on shares of Raytheon in a report on Monday, October 30th. They noted that the move was a valuation call. Finally, Wells Fargo & Company cut their target price on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, October 27th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $199.24.
In other news, VP Frank R. Jimenez sold 500 shares of Raytheon stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total transaction of $90,970.00. Following the sale, the vice president now owns 29,292 shares in the company, valued at $5,329,386.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Frank R. Jimenez sold 650 shares of Raytheon stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total transaction of $121,725.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,941 shares of company stock worth $902,999. 0.19% of the stock is currently owned by corporate insiders.
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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