Weybosset Research & Management LLC maintained its position in Raytheon Co. (NYSE:RTN) during the second quarter, Holdings Channel reports. The fund owned 2,450 shares of the company’s stock at the end of the second quarter. Weybosset Research & Management LLC’s holdings in Raytheon were worth $333,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gluskin Sheff & Assoc Inc. raised its stake in shares of Raytheon by 90.1% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 106,910 shares of the company’s stock worth $14,534,000 after buying an additional 50,679 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Raytheon by 5.6% in the second quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $131,000 after buying an additional 54 shares in the last quarter. Premier Fund Managers Ltd raised its stake in shares of Raytheon by 19.5% in the second quarter. Premier Fund Managers Ltd now owns 22,700 shares of the company’s stock worth $3,066,000 after buying an additional 3,700 shares in the last quarter. Savant Capital LLC raised its stake in shares of Raytheon by 1.0% in the second quarter. Savant Capital LLC now owns 3,170 shares of the company’s stock worth $431,000 after buying an additional 30 shares in the last quarter. Finally, Redwood Investments LLC raised its stake in shares of Raytheon by 13.5% in the second quarter. Redwood Investments LLC now owns 32,351 shares of the company’s stock worth $4,398,000 after buying an additional 3,849 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.
Shares of Raytheon Co. (NYSE:RTN) traded up 0.53% on Thursday, hitting $137.85. 1,193,784 shares of the stock traded hands. The firm has a market capitalization of $40.68 billion, a PE ratio of 19.26 and a beta of 0.64. The firm’s 50 day moving average is $139.21 and its 200 day moving average is $134.06. Raytheon Co. has a 52 week low of $108.83 and a 52 week high of $143.39.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.74 by $0.64. Raytheon had a net margin of 9.02% and a return on equity of 19.26%. The company earned $6 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same quarter in the previous year, the company earned $1.65 EPS. Raytheon’s revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Raytheon Co. will post $7.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Wednesday, October 5th will be given a dividend of $0.7325 per share. This represents a $2.93 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, October 3rd. Raytheon’s dividend payout ratio is 40.86%.
A number of analysts have recently weighed in on RTN shares. Citigroup Inc. upped their price target on shares of Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Deutsche Bank AG increased their target price on shares of Raytheon from $135.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Stifel Nicolaus increased their target price on shares of Raytheon from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Jefferies Group reissued a “buy” rating on shares of Raytheon in a research note on Wednesday, July 6th. Finally, Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $174.67.
In other news, Director Vernon E. Clark sold 2,540 shares of Raytheon stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $141.01, for a total transaction of $358,165.40. Following the completion of the sale, the director now owns 7,246 shares in the company, valued at approximately $1,021,758.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.21% of the company’s stock.
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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