First National Trust Co. raised its position in shares of Raytheon Co. (NYSE:RTN) by 15.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,254 shares of the company’s stock after buying an additional 717 shares during the period. First National Trust Co.’s holdings in Raytheon were worth $714,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of RTN. State Street Corp raised its position in shares of Raytheon by 2.2% in the first quarter. State Street Corp now owns 11,603,956 shares of the company’s stock worth $1,423,003,000 after buying an additional 251,618 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Raytheon by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 8,783,318 shares of the company’s stock worth $1,077,098,000 after buying an additional 34,294 shares during the last quarter. Franklin Resources Inc. raised its position in Raytheon by 1.1% in the first quarter. Franklin Resources Inc. now owns 8,475,645 shares of the company’s stock worth $1,039,368,000 after buying an additional 95,453 shares during the last quarter. BlackRock Group LTD raised its position in Raytheon by 21.9% in the first quarter. BlackRock Group LTD now owns 3,100,141 shares of the company’s stock worth $380,171,000 after buying an additional 556,386 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Raytheon by 4.0% in the first quarter. Geode Capital Management LLC now owns 2,599,749 shares of the company’s stock worth $318,203,000 after buying an additional 99,689 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.
Shares of Raytheon Co. (NYSE:RTN) traded down 0.03% on Wednesday, hitting $137.13. The company had a trading volume of 1,736,456 shares. The firm has a 50 day moving average of $139.21 and a 200-day moving average of $134.06. The firm has a market capitalization of $40.47 billion, a P/E ratio of 19.16 and a beta of 0.64. Raytheon Co. has a 12-month low of $108.83 and a 12-month high of $143.39.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.64. Raytheon had a return on equity of 19.26% and a net margin of 9.02%. The company earned $6 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities analysts predict that Raytheon Co. will post $7.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Wednesday, October 5th will be issued a $0.7325 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $2.93 annualized dividend and a dividend yield of 2.14%. Raytheon’s dividend payout ratio (DPR) is currently 40.86%.
A number of research analysts recently issued reports on RTN shares. Citigroup Inc. lifted their target price on Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Jefferies Group reaffirmed a “buy” rating on shares of Raytheon in a report on Wednesday, July 6th. Deutsche Bank AG lifted their target price on Raytheon from $135.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Stifel Nicolaus lifted their target price on Raytheon from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $151.00 target price on the stock in a report on Monday, July 4th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Raytheon presently has an average rating of “Buy” and an average price target of $174.93.
In other Raytheon news, Director Vernon E. Clark sold 2,540 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $141.01, for a total value of $358,165.40. Following the completion of the sale, the director now directly owns 7,246 shares in the company, valued at $1,021,758.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by company insiders.
Raytheon Company Profile
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
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