Beck Mack & Oliver LLC maintained its position in shares of Raytheon Co. (NYSE:RTN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,522 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Raytheon were worth $1,023,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC increased its position 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 valued at $131,000 after buying an additional 54 shares in the last quarter. Integrated Investment Consultants LLC increased its position in shares of Raytheon by 11.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,135 shares of the company’s stock valued at $154,000 after buying an additional 117 shares in the last quarter. Foundry Partners LLC acquired a new position in shares of Raytheon during the second quarter valued at approximately $201,000. Dowling & Yahnke LLC acquired a new position in shares of Raytheon during the second quarter valued at approximately $203,000. Finally, Barry Investment Advisors LLC acquired a new position in shares of Raytheon during the second quarter valued at approximately $206,000. 77.90% of the stock is currently owned by institutional investors.
Raytheon Co. (NYSE:RTN) traded down 0.18% during midday trading on Friday, reaching $137.85. The company had a trading volume of 559,343 shares. The stock has a 50-day moving average price of $138.42 and a 200 day moving average price of $134.50. Raytheon Co. has a 12-month low of $110.37 and a 12-month high of $143.39. The company has a market capitalization of $40.68 billion, a PE ratio of 19.26 and a beta of 0.64.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 28th. The company reported $2.38 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same quarter last year, the company earned $1.65 EPS. The company’s revenue was up 3.2% on a year-over-year basis. Equities analysts forecast that Raytheon Co. will post $7.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Wednesday, October 5th will be paid a dividend of $0.7325 per share. The ex-dividend date is Monday, October 3rd. This represents a $2.93 dividend on an annualized basis and a yield of 2.12%. Raytheon’s dividend payout ratio (DPR) is presently 40.86%.
Several brokerages have recently weighed in on RTN. Robert W. Baird began coverage on Raytheon in a report on Thursday, October 6th. They set an “outperform” rating and a $170.00 price objective on the stock. Citigroup Inc. lifted their price objective on Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Argus reissued a “buy” rating and set a $161.00 price objective on shares of Raytheon in a report on Wednesday, August 3rd. Credit Suisse Group AG reissued a “buy” rating and set a $151.00 price objective on shares of Raytheon in a report on Friday, July 29th. Finally, JPMorgan Chase & Co. set a $145.00 price objective on Raytheon and gave the stock a “buy” rating in a report on Friday, July 29th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Raytheon has an average rating of “Buy” and a consensus price target of $174.67.
In other Raytheon news, Director Vernon E. Clark sold 2,540 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $141.01, for a total transaction of $358,165.40. Following the transaction, the director now owns 7,246 shares in the company, valued at approximately $1,021,758.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.
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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