WFG Advisors LP boosted its holdings in shares of Raytheon Company (NYSE:RTN) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,924 shares of the aerospace company’s stock after buying an additional 167 shares during the period. WFG Advisors LP’s holdings in Raytheon were worth $634,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in RTN. Great Lakes Advisors LLC raised its holdings in Raytheon by 151.7% during the first quarter. Great Lakes Advisors LLC now owns 42,814 shares of the aerospace company’s stock worth $6,529,000 after buying an additional 25,807 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in Raytheon by 2.3% during the first quarter. Cidel Asset Management Inc. now owns 85,561 shares of the aerospace company’s stock worth $13,280,000 after buying an additional 1,919 shares during the last quarter. Independent Advisor Alliance raised its holdings in Raytheon by 43.7% during the first quarter. Independent Advisor Alliance now owns 1,905 shares of the aerospace company’s stock worth $286,000 after buying an additional 579 shares during the last quarter. Beacon Trust Co. raised its holdings in Raytheon by 1.1% during the first quarter. Beacon Trust Co. now owns 62,333 shares of the aerospace company’s stock worth $9,609,000 after buying an additional 690 shares during the last quarter. Finally, Savant Capital LLC raised its holdings in Raytheon by 6.1% during the first quarter. Savant Capital LLC now owns 3,412 shares of the aerospace company’s stock worth $520,000 after buying an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same period last year, the company earned $1.79 EPS. Raytheon’s revenue for the quarter was up 4.5% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors 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 yield of 1.73%. Raytheon’s payout ratio is 42.88%.
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Several analysts have recently issued reports on the stock. Buckingham Research upped their target price on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday. J P Morgan Chase & Co reduced their target price on shares of Raytheon from $194.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday. Sanford C. Bernstein reiterated an “outperform” rating and issued a $199.00 target price (up previously from $188.00) on shares of Raytheon in a research note on Monday. They noted that the move was a valuation call. Finally, Wells Fargo & Company reduced their target price on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, October 27th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $199.24.
In other Raytheon news, Director Vernon E. Clark sold 829 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the sale, the director now directly owns 7,588 shares in the company, valued at approximately $1,367,281.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Taylor W. Lawrence sold 3,791 shares of the business’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. Insiders sold a total of 5,770 shares of company stock valued at $1,052,376 over the last quarter. 0.19% of the stock is owned by corporate 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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