Heritage Wealth Advisors increased its holdings in Raytheon (NYSE:RTN) by 209.9% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 561 shares of the aerospace company’s stock after buying an additional 380 shares during the quarter. Heritage Wealth Advisors’ holdings in Raytheon were worth $98,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Country Club Trust Company n.a. grew its stake in shares of Raytheon by 7.4% during the 2nd quarter. Country Club Trust Company n.a. now owns 46,543 shares of the aerospace company’s stock valued at $8,093,000 after purchasing an additional 3,216 shares during the period. Clarius Group LLC bought a new stake in shares of Raytheon during the 1st quarter valued at about $233,000. Great Valley Advisor Group Inc. grew its stake in shares of Raytheon by 11.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 2,126 shares of the aerospace company’s stock valued at $370,000 after purchasing an additional 216 shares during the period. Tredje AP fonden grew its stake in shares of Raytheon by 1.0% during the 1st quarter. Tredje AP fonden now owns 23,343 shares of the aerospace company’s stock valued at $4,250,000 after purchasing an additional 227 shares during the period. Finally, Brandywine Oak Private Wealth LLC grew its stake in shares of Raytheon by 44.9% during the 1st quarter. Brandywine Oak Private Wealth LLC now owns 3,258 shares of the aerospace company’s stock valued at $593,000 after purchasing an additional 1,010 shares during the period. Institutional investors own 72.21% of the company’s stock.
Shares of NYSE:RTN traded down $1.65 during mid-day trading on Thursday, reaching $183.42. 9,184 shares of the company traded hands, compared to its average volume of 1,754,483. The company’s 50 day moving average price is $180.79 and its 200-day moving average price is $180.28. The firm has a market cap of $51.82 billion, a PE ratio of 17.24, a PEG ratio of 1.43 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.35. Raytheon has a 52 week low of $144.27 and a 52 week high of $210.89.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.61 by $0.31. The company had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.02 billion. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.45 EPS. On average, research analysts predict that Raytheon will post 11.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.9425 per share. The ex-dividend date was Tuesday, July 9th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.06%. Raytheon’s dividend payout ratio (DPR) is presently 35.53%.
In related news, VP Wesley D. Kremer sold 8,186 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 29,175 shares of the company’s stock, valued at approximately $5,397,375. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Randa G. Newsome sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total value of $1,850,100.00. Following the completion of the transaction, the vice president now directly owns 20,396 shares in the company, valued at $3,773,463.96. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.
A number of equities research analysts have issued reports on the company. Jefferies Financial Group boosted their price target on Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Bank of America restated a “buy” rating and set a $265.00 price target (up from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Buckingham Research downgraded Raytheon from a “buy” rating to a “neutral” rating and cut their price target for the company from $265.00 to $195.00 in a research note on Monday, June 24th. ValuEngine downgraded Raytheon from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. Finally, Stifel Nicolaus boosted their price target on Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $209.80.
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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