Dubuque Bank & Trust Co. lowered its stake in Raytheon Company (NYSE:RTN) by 53.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,018 shares of the aerospace company’s stock after selling 4,622 shares during the period. Dubuque Bank & Trust Co.’s holdings in Raytheon were worth $649,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the company. Crestwood Advisors Group LLC bought a new stake in Raytheon during the first quarter worth about $110,000. Oakworth Capital Inc. raised its stake in Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock worth $111,000 after buying an additional 445 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in Raytheon during the first quarter worth about $111,000. St. Johns Investment Management Company LLC bought a new stake in Raytheon during the second quarter worth about $113,000. Finally, Jacobi Capital Management LLC raised its stake in Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after buying an additional 553 shares in the last quarter. 74.72% of the stock is currently owned by hedge funds and other institutional investors.
Raytheon Company (RTN) traded down 0.20% during mid-day trading on Friday, hitting $176.90. The stock had a trading volume of 1,096,760 shares. The stock has a market cap of $51.34 billion, a price-to-earnings ratio of 24.43 and a beta of 0.59. The company has a 50-day moving average of $170.94 and a 200-day moving average of $159.65. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The business had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.24 billion. During the same period in the prior year, the company posted $2.38 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts anticipate that Raytheon Company will post $7.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were issued a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Friday, June 30th. Raytheon’s dividend payout ratio (DPR) is 43.94%.
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RTN has been the topic of a number of analyst reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $212.00 price target (up previously from $170.00) on shares of Raytheon in a research report on Thursday, August 10th. Vetr raised Raytheon from a “hold” rating to a “buy” rating and set a $178.87 price target on the stock in a research report on Monday, July 17th. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a report on Monday, May 1st. BidaskClub downgraded Raytheon from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Buckingham Research increased their price objective on Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $183.01.
In related news, CAO Michael J. Wood sold 1,442 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $162.98, for a total value of $235,017.16. Following the completion of the transaction, the chief accounting officer now directly owns 18,470 shares of the company’s stock, valued at approximately $3,010,240.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vernon E. Clark sold 829 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $180.19, for a total value of $149,377.51. Following the transaction, the director now directly owns 7,588 shares of the company’s stock, valued at $1,367,281.72. The disclosure for this sale can be found here. Insiders sold a total of 16,740 shares of company stock valued at $2,730,129 over the last three months. Corporate insiders own 0.19% of the company’s stock.
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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