Papp L Roy & Associates purchased a new stake in shares of Raytheon (NYSE:RTN) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,034 shares of the aerospace company’s stock, valued at approximately $203,000.
A number of other large investors have also recently modified their holdings of RTN. Buckingham Capital Management Inc. bought a new position in Raytheon in the 1st quarter worth about $205,000. First Financial Bank Trust Division grew its stake in Raytheon by 5.3% in the 2nd quarter. First Financial Bank Trust Division now owns 21,051 shares of the aerospace company’s stock worth $3,660,000 after acquiring an additional 1,066 shares in the last quarter. LVM Capital Management Ltd. MI grew its stake in Raytheon by 8.7% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 52,370 shares of the aerospace company’s stock worth $9,106,000 after acquiring an additional 4,174 shares in the last quarter. Private Asset Management Inc. boosted its stake in shares of Raytheon by 0.3% during the second quarter. Private Asset Management Inc. now owns 36,890 shares of the aerospace company’s stock valued at $6,414,000 after purchasing an additional 110 shares in the last quarter. Finally, South Texas Money Management Ltd. boosted its stake in shares of Raytheon by 2.1% during the second quarter. South Texas Money Management Ltd. now owns 239,763 shares of the aerospace company’s stock valued at $41,690,000 after purchasing an additional 5,017 shares in the last quarter. Institutional investors own 72.63% of the company’s stock.
NYSE:RTN traded up $0.84 during midday trading on Friday, reaching $215.84. 1,149,100 shares of the stock traded hands, compared to its average volume of 1,897,773. Raytheon has a 12-month low of $144.27 and a 12-month high of $218.00. The business has a 50-day moving average of $202.76 and a two-hundred day moving average of $186.79. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.44 and a current ratio of 1.54. The stock has a market capitalization of $59.34 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.69 and a beta of 0.89.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Wednesday, October 9th were given a dividend of $0.9425 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $3.77 dividend on an annualized basis and a yield of 1.75%. Raytheon’s payout ratio is 35.53%.
In related news, VP Wesley D. Kremer sold 2,915 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $583,000.00. Following the completion of the transaction, the vice president now owns 26,260 shares of the company’s stock, valued at $5,252,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Randa G. Newsome sold 4,300 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $199.10, for a total transaction of $856,130.00. Following the transaction, the vice president now directly owns 18,281 shares of the company’s stock, valued at approximately $3,639,747.10. The disclosure for this sale can be found here. Insiders have sold 10,769 shares of company stock valued at $2,120,750 in the last three months. 0.18% of the stock is currently owned by corporate insiders.
A number of research firms have recently issued reports on RTN. Bank of America reiterated a “buy” rating and set a $265.00 price objective (up from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Credit Suisse Group increased their price objective on shares of Raytheon from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Wolfe Research set a $221.00 price objective on shares of Raytheon and gave the company a “buy” rating in a research note on Friday, October 25th. ValuEngine upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, UBS Group set a $230.00 price objective on shares of Raytheon and gave the company a “hold” rating in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $217.94.
Raytheon Company Profile
Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
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