Main Street Research LLC continued to hold its position in Raytheon Company (NYSE:RTN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,521 shares of the aerospace company’s stock at the end of the second quarter. Main Street Research LLC’s holdings in Raytheon were worth $246,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in RTN. Quadrature Capital Ltd boosted its stake in Raytheon by 63.9% in the fourth quarter. Quadrature Capital Ltd now owns 4,837 shares of the aerospace company’s stock worth $687,000 after buying an additional 1,886 shares during the last quarter. Ibex Wealth Advisors boosted its stake in Raytheon by 0.6% in the fourth quarter. Ibex Wealth Advisors now owns 22,866 shares of the aerospace company’s stock worth $3,359,000 after buying an additional 140 shares during the last quarter. Wealthfront Inc. boosted its stake in Raytheon by 3.7% in the fourth quarter. Wealthfront Inc. now owns 13,280 shares of the aerospace company’s stock worth $1,886,000 after buying an additional 478 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in Raytheon during the fourth quarter worth approximately $298,000. Finally, High Point Bank & Trust Co. boosted its stake in Raytheon by 2,000.0% in the fourth quarter. High Point Bank & Trust Co. now owns 1,050 shares of the aerospace company’s stock worth $149,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 74.72% of the company’s stock.
Shares of Raytheon Company (RTN) traded down 0.20% during midday trading on Friday, reaching $176.90. 1,096,760 shares of the company were exchanged. The firm has a 50-day moving average of $170.94 and a 200 day moving average of $159.65. The firm has a market capitalization of $51.34 billion, a P/E ratio of 24.43 and a beta of 0.59. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $181.05.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. During the same period last year, the company earned $2.38 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts expect that Raytheon Company will post $7.59 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th were given a $0.7975 dividend. This represents a $3.19 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Friday, June 30th. Raytheon’s dividend payout ratio is presently 43.94%.
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Several brokerages recently issued reports on RTN. Jefferies Group LLC restated a “buy” rating and set a $172.00 price objective on shares of Raytheon in a research report on Tuesday, May 23rd. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. Stifel Nicolaus restated a “buy” rating and set a $185.00 price objective (up from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. Sanford C. Bernstein restated an “outperform” rating and set a $183.00 price objective (up from $180.00) on shares of Raytheon in a research report on Sunday, July 30th. Finally, Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective on the stock. in a research report on Tuesday. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $183.01.
In other news, CAO Michael J. Wood sold 1,442 shares of the stock in a transaction 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 owns 18,470 shares of the company’s stock, valued at $3,010,240.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Wesley D. Kremer sold 1,010 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total value of $164,731.00. Following the completion of the transaction, the vice president now directly owns 23,136 shares of the company’s stock, valued at approximately $3,773,481.60. The disclosure for this sale can be found here. Insiders sold 16,740 shares of company stock worth $2,730,129 over the last ninety days. 0.19% of the stock is owned by corporate insiders.
Raytheon Company Profile
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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