Moody Lynn & Lieberson LLC raised its stake in shares of Raytheon Co. (NYSE:RTN) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,203 shares of the company’s stock after buying an additional 2,588 shares during the period. Raytheon accounts for about 3.4% of Moody Lynn & Lieberson LLC’s portfolio, making the stock its 4th largest position. Moody Lynn & Lieberson LLC’s holdings in Raytheon were worth $19,197,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of RTN. Quadrant Capital Group LLC increased its position in 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. Integrated Investment Consultants LLC increased its position in Raytheon by 11.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,135 shares of the company’s stock worth $154,000 after buying an additional 117 shares in the last quarter. Foundry Partners LLC purchased a new position in Raytheon during the second quarter worth about $201,000. Dowling & Yahnke LLC purchased a new position in Raytheon during the second quarter worth about $203,000. Finally, Barry Investment Advisors LLC purchased a new position in Raytheon during the second quarter worth about $206,000. 77.89% of the stock is owned by institutional investors and hedge funds.
Raytheon Co. (NYSE:RTN) traded up 0.34% during trading on Tuesday, reaching $137.75. The company’s stock had a trading volume of 603,124 shares. The firm’s 50-day moving average price is $138.18 and its 200 day moving average price is $134.88. The company has a market capitalization of $40.65 billion, a P/E ratio of 19.25 and a beta of 0.64. Raytheon Co. has a 12-month low of $111.60 and a 12-month high of $143.39.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 28th. The company reported $2.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.64. The firm earned $6 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Raytheon had a return on equity of 19.26% and a net margin of 9.02%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS. On average, analysts predict that Raytheon Co. will post $7.41 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Wednesday, October 5th will be issued a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, October 3rd. Raytheon’s dividend payout ratio (DPR) is 40.86%.
A number of brokerages recently weighed in on RTN. Robert W. Baird began coverage on shares of Raytheon in a report on Thursday, October 6th. They issued an “outperform” rating and a $170.00 price target on the stock. Citigroup Inc. boosted their price target on shares of Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Jefferies Group reissued a “buy” rating on shares of Raytheon in a report on Wednesday, July 6th. Zacks Investment Research downgraded shares of Raytheon from a “hold” rating to a “sell” rating in a report on Monday. Finally, Deutsche Bank AG boosted their price objective on Raytheon from $135.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock presently 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 stock was sold at an average price of $141.01, for a total value of $358,165.40. Following the completion of the transaction, the director now owns 7,246 shares in the company, valued at approximately $1,021,758.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is owned by insiders.
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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