Trustmark National Bank Trust Department cut its stake in Raytheon Company (NYSE:RTN) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,151 shares of the aerospace company’s stock after selling 42 shares during the period. Trustmark National Bank Trust Department’s holdings in Raytheon were worth $633,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Financial Architects Inc raised its position in Raytheon by 0.5% in the first quarter. Financial Architects Inc now owns 1,305 shares of the aerospace company’s stock worth $199,000 after buying an additional 7 shares during the period. Cordasco Financial Network raised its position in Raytheon by 0.5% in the first quarter. Cordasco Financial Network now owns 2,110 shares of the aerospace company’s stock worth $322,000 after buying an additional 10 shares during the period. HM Capital Management LLC raised its position in Raytheon by 0.5% in the first quarter. HM Capital Management LLC now owns 2,015 shares of the aerospace company’s stock worth $307,000 after buying an additional 10 shares during the period. Founders Capital Management LLC raised its position in Raytheon by 0.5% in the first quarter. Founders Capital Management LLC now owns 2,327 shares of the aerospace company’s stock worth $355,000 after buying an additional 12 shares during the period. Finally, Bath Savings Trust Co raised its position in Raytheon by 0.9% in the first quarter. Bath Savings Trust Co now owns 2,365 shares of the aerospace company’s stock worth $361,000 after buying an additional 20 shares during the period. 74.98% of the stock is owned by institutional investors.
Raytheon Company (RTN) traded up 0.97% during midday trading on Friday, hitting $179.35. The company had a trading volume of 1,930,579 shares. The firm has a 50-day moving average price of $168.59 and a 200-day moving average price of $158.50. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $181.05. The company has a market cap of $52.06 billion, a price-to-earnings ratio of 24.77 and a beta of 0.59. Raytheon also was the recipient of unusually large options trading on Thursday. Stock traders purchased 14,447 call options on the company. This represents an increase of approximately 901% compared to the average volume of 1,443 call options.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. The firm had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.38 EPS. Equities analysts anticipate that Raytheon Company will post $7.59 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were paid a dividend of $0.7975 per share. The ex-dividend date was Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a yield of 1.78%. Raytheon’s dividend payout ratio is presently 43.94%.
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A number of research firms recently weighed in on RTN. Stifel Nicolaus raised their target price on shares of Raytheon from $160.00 to $175.00 and gave the company a “buy” rating in a report on Friday, April 28th. BidaskClub upgraded Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Vetr downgraded Raytheon from a “buy” rating to a “hold” rating and set a $166.44 price target for the company. in a research report on Tuesday, May 23rd. Argus reiterated a “buy” rating and set a $195.00 target price (up from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Finally, Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $183.00 target price for the company in a research report on Tuesday, May 30th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Raytheon has a consensus rating of “Buy” and an average target price of $182.49.
In other Raytheon news, Chairman Thomas A. Kennedy sold 10,703 shares of Raytheon stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $162.05, for a total value of $1,734,421.15. Following the transaction, the chairman now directly owns 61,671 shares in the company, valued at approximately $9,993,785.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert E. Beauchamp bought 1,162 shares of the stock in a transaction on Monday, July 31st. The stock was bought at an average price of $171.99 per share, for a total transaction of $199,852.38. Following the completion of the purchase, the director now directly owns 4,303 shares in the company, valued at approximately $740,072.97. The disclosure for this purchase can be found here. Insiders have sold a total of 15,911 shares of company stock worth $2,580,752 in the last 90 days. 0.19% of the stock is currently owned by company insiders.
Raytheon Company Profile
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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