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.
TRADEMARK VIOLATION WARNING: “Wendell David Associates Inc. Buys New Holdings in Raytheon Company (RTN)” was first posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of US and international copyright & trademark laws. The legal version of this piece can be accessed at https://www.com-unik.info/2017/11/06/wendell-david-associates-inc-buys-new-holdings-in-raytheon-company-rtn.html.
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.
What are top analysts saying about Raytheon Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Raytheon Company and related companies.