Papp L Roy & Associates Purchases New Holdings in Raytheon (NYSE:RTN)

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.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, October 24th. The aerospace company reported $3.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.86 by $0.22. Raytheon had a net margin of 11.47% and a return on equity of 27.23%. The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the prior year, the company posted $2.25 earnings per share. Raytheon’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts anticipate that Raytheon will post 11.84 earnings per share for the current year.

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.

Further Reading: What is a Leveraged Buyout (LBO)?

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit