Scott & Selber Inc. raised its stake in Raytheon (NYSE:RTN) by 1.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 18,150 shares of the aerospace company’s stock after purchasing an additional 211 shares during the quarter. Raytheon comprises about 1.6% of Scott & Selber Inc.’s investment portfolio, making the stock its 20th biggest position. Scott & Selber Inc.’s holdings in Raytheon were worth $3,156,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Country Club Trust Company n.a. increased its stake in shares of Raytheon by 7.4% during the second quarter. Country Club Trust Company n.a. now owns 46,543 shares of the aerospace company’s stock worth $8,093,000 after buying an additional 3,216 shares during the period. Clarius Group LLC purchased a new stake in shares of Raytheon during the first quarter worth approximately $233,000. Tredje AP fonden increased its stake in shares of Raytheon by 1.0% during the first quarter. Tredje AP fonden now owns 23,343 shares of the aerospace company’s stock worth $4,250,000 after buying an additional 227 shares during the period. Brandywine Oak Private Wealth LLC increased its stake in shares of Raytheon by 44.9% during the first quarter. Brandywine Oak Private Wealth LLC now owns 3,258 shares of the aerospace company’s stock worth $593,000 after buying an additional 1,010 shares during the period. Finally, Baldwin Investment Management LLC increased its stake in shares of Raytheon by 38.3% during the first quarter. Baldwin Investment Management LLC now owns 4,335 shares of the aerospace company’s stock worth $789,000 after buying an additional 1,200 shares during the period. 74.71% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on RTN shares. Buckingham Research lowered shares of Raytheon from a “buy” rating to a “neutral” rating and cut their target price for the stock from $265.00 to $195.00 in a research note on Monday, June 24th. Bank of America restated a “buy” rating and set a $265.00 target price (up from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Wolfe Research set a $205.00 price target on Raytheon and gave the company a “buy” rating in a report on Friday, April 26th. Vertical Research downgraded Raytheon from a “buy” rating to a “hold” rating and lowered their price target for the company from $216.00 to $203.00 in a report on Tuesday, June 11th. Finally, Stifel Nicolaus upped their price target on Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a report 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 stock. Raytheon presently has a consensus rating of “Buy” and an average target price of $209.80.
In other news, VP Wesley D. Kremer sold 8,186 shares of the 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 completion of the sale, the vice president now directly owns 29,175 shares of the company’s stock, valued at $5,397,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Randa G. Newsome sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total value of $1,850,100.00. Following the completion of the sale, the vice president now directly owns 20,396 shares of the company’s stock, valued at $3,773,463.96. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.
RTN traded up $0.08 on Tuesday, reaching $183.62. The company’s stock had a trading volume of 998,548 shares, compared to its average volume of 1,932,236. The business has a 50 day simple moving average of $180.01. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $52.04 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 1.50 and a beta of 0.86. Raytheon has a fifty-two week low of $144.27 and a fifty-two week high of $210.89.
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 Zacks’ consensus estimate of $2.61 by $0.31. The firm 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 quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.45 earnings per share. On average, research analysts forecast that Raytheon will post 11.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Tuesday, July 9th. Raytheon’s 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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