Buckingham Capital Management Inc. reduced its stake in shares of Raytheon Company (NYSE:RTN) by 2.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,781 shares of the aerospace company’s stock after selling 45 shares during the period. Buckingham Capital Management Inc.’s holdings in Raytheon were worth $288,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. TIAA CREF Investment Management LLC lifted its holdings in shares of Raytheon by 4.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,769,723 shares of the aerospace company’s stock worth $285,775,000 after acquiring an additional 70,128 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Raytheon by 8.5% during the 2nd quarter. Teachers Advisors LLC now owns 776,489 shares of the aerospace company’s stock worth $125,387,000 after acquiring an additional 60,851 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Raytheon by 10.3% during the 2nd quarter. CWA Asset Management Group LLC now owns 25,149 shares of the aerospace company’s stock worth $4,061,000 after acquiring an additional 2,350 shares during the last quarter. Peloton Wealth Strategists lifted its holdings in shares of Raytheon by 1.7% during the 2nd quarter. Peloton Wealth Strategists now owns 9,125 shares of the aerospace company’s stock worth $1,474,000 after acquiring an additional 150 shares during the last quarter. Finally, South State Corp lifted its holdings in shares of Raytheon by 14.9% during the 2nd quarter. South State Corp now owns 19,772 shares of the aerospace company’s stock worth $3,193,000 after acquiring an additional 2,564 shares during the last quarter. 73.74% of the stock is owned by institutional investors.
Raytheon Company (NYSE RTN) opened at 188.91 on Friday. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $189.39. The stock has a market cap of $54.83 billion, a PE ratio of 26.09 and a beta of 0.59. The firm has a 50 day moving average of $183.79 and a 200-day moving average of $168.10.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The firm had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $2.38 EPS. Equities analysts anticipate that Raytheon Company will post $7.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be issued a $0.7975 dividend. The ex-dividend date of this dividend is Wednesday, October 11th. This represents a $3.19 annualized dividend and a dividend yield of 1.69%. Raytheon’s dividend payout ratio (DPR) is presently 43.94%.
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In other news, VP Frank R. Jimenez sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total value of $90,970.00. Following the completion of the sale, the vice president now owns 29,292 shares in the company, valued at approximately $5,329,386.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $187.27, for a total transaction of $121,725.50. The disclosure for this sale can be found here. Insiders sold a total of 5,770 shares of company stock valued at $1,052,376 in the last 90 days. Company insiders own 0.19% of the company’s stock.
A number of analysts have recently issued reports on RTN shares. Robert W. Baird reaffirmed an “outperform” rating and set a $212.00 price objective (up from $170.00) on shares of Raytheon in a report on Thursday, August 10th. Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a report on Wednesday, August 30th. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a report on Monday, September 18th. BidaskClub downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Buckingham Research boosted their price target on shares of Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $193.19.
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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