Wendell David Associates Inc. Buys New Holdings in Raytheon Company (RTN)

Wendell David Associates Inc. bought a new position in shares of Raytheon Company (NYSE:RTN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,653 shares of the aerospace company’s stock, valued at approximately $682,000.

A number of other large investors have also modified their holdings of the stock. St. Johns Investment Management Company LLC acquired a new position in Raytheon in the 2nd quarter worth approximately $113,000. Jacobi Capital Management LLC boosted its stake in Raytheon by 271.1% in the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after purchasing an additional 553 shares during the period. Tarbox Family Office Inc. boosted its stake in Raytheon by 1,666.7% in the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock worth $128,000 after purchasing an additional 750 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in Raytheon in the 2nd quarter worth approximately $139,000. Finally, CWM LLC boosted its stake in Raytheon by 7.4% in the 2nd quarter. CWM LLC now owns 916 shares of the aerospace company’s stock worth $148,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 74.15% of the company’s stock.

A number of equities analysts recently commented on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $212.00 price objective on shares of Raytheon in a research note on Tuesday, October 24th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $209.00 price objective on shares of Raytheon in a research note on Tuesday, October 10th. Citigroup Inc. reaffirmed a “buy” rating and issued a $215.00 price objective (up previously from $192.00) on shares of Raytheon in a research note on Monday, October 9th. ValuEngine lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $203.00 price objective on shares of Raytheon in a research note on Thursday, October 19th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $199.24.

Raytheon Company (NYSE:RTN) opened at $184.71 on Monday. The firm has a market cap of $53,397.26, a price-to-earnings ratio of 24.43, a PEG ratio of 2.51 and a beta of 0.57. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66. Raytheon Company has a twelve month low of $132.91 and a twelve month high of $190.25.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The business had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. Raytheon’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.79 EPS. sell-side analysts forecast that Raytheon Company will post 7.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be issued a dividend of $0.7975 per share. The ex-dividend date is Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.73%. Raytheon’s dividend payout ratio is currently 42.88%.

In related news, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $187.27, for a total value of $121,725.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Taylor W. Lawrence sold 3,791 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total transaction of $690,303.19. The disclosure for this sale can be found here. Insiders sold a total of 5,770 shares of company stock worth $1,052,376 over the last quarter. 0.19% of the stock is currently owned by company insiders.

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About Raytheon

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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