Raytheon Company (RTN) Stake Boosted by River Wealth Advisors LLC

River Wealth Advisors LLC boosted its stake in Raytheon Company (NYSE:RTN) by 6.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,473 shares of the aerospace company’s stock after buying an additional 150 shares during the period. River Wealth Advisors LLC’s holdings in Raytheon were worth $377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC bought a new position in shares of Raytheon during the first quarter valued at about $110,000. Oakworth Capital Inc. raised its position in shares of Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock valued at $111,000 after buying an additional 445 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in shares of Raytheon during the first quarter valued at about $111,000. Orrstown Financial Services Inc. raised its position in shares of Raytheon by 22.6% in the first quarter. Orrstown Financial Services Inc. now owns 759 shares of the aerospace company’s stock valued at $116,000 after buying an additional 140 shares during the period. Finally, Adirondack Trust Co. raised its position in shares of Raytheon by 7.1% in the first quarter. Adirondack Trust Co. now owns 803 shares of the aerospace company’s stock valued at $122,000 after buying an additional 53 shares during the period. 74.72% of the stock is currently owned by hedge funds and other institutional investors.

Raytheon Company (NYSE:RTN) opened at 176.90 on Friday. The company has a market capitalization of $51.34 billion, a P/E ratio of 24.43 and a beta of 0.59. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $181.05. The company has a 50-day moving average of $170.94 and a 200-day moving average of $159.65.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. During the same quarter in the prior year, the business posted $2.38 EPS. Raytheon’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts expect that Raytheon Company will post $7.59 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders 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 1.80%. Raytheon’s payout ratio is 43.94%.

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Several analysts have issued reports on RTN shares. Robert W. Baird restated an “outperform” rating and set a $212.00 price target (up from $170.00) on shares of Raytheon in a research report on Thursday, August 10th. Vetr upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $178.87 price target for the company in a research report on Monday, July 17th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a report on Monday, May 1st. BidaskClub lowered shares of Raytheon from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Buckingham Research increased their target price on shares of Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $183.01.

In other news, Director Vernon E. Clark sold 829 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $180.19, for a total value of $149,377.51. Following the sale, the director now owns 7,588 shares in the company, valued at $1,367,281.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Wesley D. Kremer sold 1,010 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total transaction of $164,731.00. Following the completion of the sale, the vice president now owns 23,136 shares in the company, valued at approximately $3,773,481.60. The disclosure for this sale can be found here. Insiders have sold a total of 16,740 shares of company stock worth $2,730,129 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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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