Trillium Asset Management LLC purchased a new position in shares of Raytheon (NYSE:RTN) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,463 shares of the aerospace company’s stock, valued at approximately $287,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Delta Asset Management LLC TN boosted its holdings in shares of Raytheon by 5.3% during the 3rd quarter. Delta Asset Management LLC TN now owns 940 shares of the aerospace company’s stock valued at $184,000 after acquiring an additional 47 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in Raytheon by 39.1% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 185 shares of the aerospace company’s stock worth $36,000 after buying an additional 52 shares during the period. YorkBridge Wealth Partners LLC lifted its holdings in Raytheon by 1.8% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 3,161 shares of the aerospace company’s stock worth $620,000 after buying an additional 55 shares during the period. Cornerstone Advisors Inc. lifted its holdings in Raytheon by 8.2% during the 3rd quarter. Cornerstone Advisors Inc. now owns 727 shares of the aerospace company’s stock worth $143,000 after buying an additional 55 shares during the period. Finally, Wright Investors Service Inc. lifted its holdings in Raytheon by 0.7% during the 2nd quarter. Wright Investors Service Inc. now owns 8,826 shares of the aerospace company’s stock worth $1,534,000 after buying an additional 57 shares during the period. 72.46% of the stock is owned by institutional investors and hedge funds.
In other Raytheon news, VP Frank R. Jimenez sold 1,054 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total transaction of $189,720.00. Following the completion of the sale, the vice president now directly owns 25,863 shares of the company’s stock, valued at approximately $4,655,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Wesley D. Kremer sold 2,915 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $583,000.00. Following the sale, the vice president now directly owns 26,260 shares of the company’s stock, valued at $5,252,000. The disclosure for this sale can be found here. Insiders have sold a total of 10,769 shares of company stock valued at $2,120,750 over the last three months. Corporate insiders own 0.18% of the company’s stock.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.22. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.29 billion. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 EPS. On average, equities research analysts predict that Raytheon will post 11.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Wednesday, January 8th will be issued a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 1.72%. Raytheon’s dividend payout ratio is currently 35.53%.
A number of research analysts have recently issued reports on RTN shares. JPMorgan Chase & Co. set a $240.00 price objective on Raytheon and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America reissued a “buy” rating and issued a $265.00 price objective (up from $224.00) on shares of Raytheon in a research note on Friday, July 26th. ValuEngine raised Raytheon from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Peel Hunt reissued a “hold” rating on shares of Raytheon in a research note on Monday. Finally, Barclays set a $215.00 price objective on Raytheon and gave the company a “hold” rating in a research note on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $217.76.
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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