Linscomb & Williams Inc. grew its holdings in shares of Raytheon Company (NYSE:RTN) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,734 shares of the aerospace company’s stock after purchasing an additional 30 shares during the quarter. Linscomb & Williams Inc.’s holdings in Raytheon were worth $280,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Guardian Life Insurance Co. of America boosted its stake in Raytheon by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the aerospace company’s stock worth $173,000 after purchasing an additional 7 shares during the last quarter. HM Capital Management LLC boosted its stake in Raytheon by 0.5% during the 2nd quarter. HM Capital Management LLC now owns 2,025 shares of the aerospace company’s stock worth $327,000 after purchasing an additional 10 shares during the last quarter. Ironwood Investment Management LLC boosted its stake in Raytheon by 0.7% during the 2nd quarter. Ironwood Investment Management LLC now owns 2,475 shares of the aerospace company’s stock worth $400,000 after purchasing an additional 16 shares during the last quarter. Pineno Levin & Ford Asset Management Inc. boosted its stake in Raytheon by 0.8% during the 2nd quarter. Pineno Levin & Ford Asset Management Inc. now owns 1,903 shares of the aerospace company’s stock worth $307,000 after purchasing an additional 16 shares during the last quarter. Finally, TCI Wealth Advisors Inc. boosted its stake in Raytheon by 0.8% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,048 shares of the aerospace company’s stock worth $331,000 after purchasing an additional 17 shares during the last quarter. 73.80% of the stock is currently owned by institutional investors.
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In related news, 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Taylor W. Lawrence sold 3,791 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $182.09, for a total value of $690,303.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,770 shares of company stock worth $1,052,376. Company insiders own 0.19% of the company’s stock.
Several brokerages have issued reports on RTN. J P Morgan Chase & Co lowered their target price on shares of Raytheon from $194.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday. Stifel Nicolaus lifted their target price on shares of Raytheon from $185.00 to $195.00 and gave the stock a “hold” rating in a research note on Friday. Bank of America Corporation set a $220.00 price target on shares of Raytheon and gave the company a “buy” rating in a research report on Friday. Sanford C. Bernstein reissued an “outperform” rating and set a $199.00 price target (up previously from $188.00) on shares of Raytheon in a research report on Monday. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $198.95.
Shares of Raytheon Company (RTN) opened at 179.58 on Tuesday. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $190.25. The firm’s 50-day moving average is $185.61 and its 200-day moving average is $171.36. The stock has a market capitalization of $52.12 billion, a price-to-earnings ratio of 24.80 and a beta of 0.59.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $1.79 EPS. On average, equities research analysts anticipate that Raytheon Company will post $7.60 EPS for the current fiscal year.
The company also recently disclosed 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 is Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.78%. Raytheon’s dividend payout ratio (DPR) is 42.88%.
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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