HighPoint Advisor Group LLC maintained its stake in shares of Raytheon Company (NYSE:RTN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,182 shares of the aerospace company’s stock at the end of the second quarter. HighPoint Advisor Group LLC’s holdings in Raytheon were worth $768,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of RTN. BlackRock Inc. boosted its stake in Raytheon by 2,166.0% during the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after acquiring an additional 18,551,353 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Raytheon by 13,784.9% during the second quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock worth $241,276,000 after acquiring an additional 1,483,389 shares in the last quarter. Vanguard Group Inc. boosted its stake in Raytheon by 4.7% during the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock worth $3,341,355,000 after acquiring an additional 989,986 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Raytheon by 55.2% during the second quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock worth $376,037,000 after acquiring an additional 827,931 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Raytheon by 42.7% during the second quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock worth $294,889,000 after acquiring an additional 546,398 shares in the last quarter. 73.80% of the stock is currently owned by institutional investors and hedge funds.
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Raytheon Company (NYSE RTN) opened at 180.20 on Wednesday. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $190.25. The company’s 50 day moving average is $185.54 and its 200-day moving average is $171.42. The company has a market capitalization of $52.30 billion, a price-to-earnings ratio of 24.89 and a beta of 0.59.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. Raytheon’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.79 EPS. Equities analysts anticipate that Raytheon Company will post $7.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be paid a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Wednesday, October 11th. Raytheon’s payout ratio is 42.88%.
RTN has been the topic of several research analyst reports. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 target price on the stock in a research note on Thursday, September 14th. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Royal Bank Of Canada set a $193.00 price objective on shares of Raytheon and gave the company a “buy” rating in a research note on Monday, August 28th. Citigroup Inc. reaffirmed a “buy” rating and issued a $215.00 price objective (up from $192.00) on shares of Raytheon in a research note on Monday, October 9th. Finally, Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective on the stock. in a research note on Wednesday, August 30th. 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 an average price target of $199.24.
In related news, Director Vernon E. Clark sold 829 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $180.19, for a total value of $149,377.51. Following the transaction, the director now owns 7,588 shares in the company, valued at approximately $1,367,281.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Frank R. Jimenez sold 650 shares of the company’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. In the last quarter, insiders sold 5,770 shares of company stock worth $1,052,376. 0.19% of the stock is currently owned by company insiders.
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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