Executive Wealth Management LLC grew its holdings in shares of Raytheon (NYSE:RTN) by 13.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,396 shares of the aerospace company’s stock after buying an additional 3,176 shares during the quarter. Raytheon accounts for about 0.6% of Executive Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position. Executive Wealth Management LLC’s holdings in Raytheon were worth $4,590,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in RTN. Alpha Omega Wealth Management LLC bought a new position in Raytheon in the first quarter worth approximately $25,000. WP Advisors LLC bought a new position in Raytheon in the first quarter worth approximately $26,000. Farmers National Bank bought a new position in Raytheon in the first quarter worth approximately $27,000. Semmax Financial Advisors Inc. grew its stake in Raytheon by 148.6% in the first quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Finally, Destination Wealth Management grew its stake in Raytheon by 670.8% in the first quarter. Destination Wealth Management now owns 185 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 161 shares in the last quarter. 74.71% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Randa G. Newsome sold 10,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the completion of the sale, the vice president now owns 20,396 shares in the company, valued at approximately $3,773,463.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Wesley D. Kremer sold 8,186 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $185.00, for a total value of $1,514,410.00. Following the sale, the vice president now owns 29,175 shares of the company’s stock, valued at approximately $5,397,375. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The firm had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the prior year, the business posted $2.45 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts forecast that Raytheon will post 11.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.9425 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $3.77 annualized dividend and a dividend yield of 2.05%. Raytheon’s dividend payout ratio is presently 35.53%.
RTN has been the subject of a number of analyst reports. Stifel Nicolaus upped their target price on Raytheon from $205.00 to $218.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Wolfe Research set a $205.00 target price on Raytheon and gave the stock a “buy” rating in a report on Friday, April 26th. Bank of America restated a “buy” rating and set a $265.00 target price (up previously from $224.00) on shares of Raytheon in a report on Friday, July 26th. Buckingham Research lowered Raytheon from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $265.00 to $195.00 in a report on Monday, June 24th. Finally, Vertical Research lowered Raytheon from a “buy” rating to a “hold” rating and lowered their target price for the stock from $216.00 to $203.00 in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $209.80.
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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