Northside Capital Management LLC acquired a new position in Raytheon (NYSE:RTN) during the third quarter, Holdings Channel reports. The firm acquired 1,427 shares of the aerospace company’s stock, valued at approximately $280,000.
Several other hedge funds have also modified their holdings of RTN. Sound Income Strategies LLC raised its position in Raytheon by 95.3% during the third quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 81 shares in the last quarter. Weaver Consulting Group purchased a new stake in Raytheon during the first quarter valued at about $36,000. Berman Capital Advisors LLC raised its position in Raytheon by 74.6% during the second quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock valued at $38,000 after purchasing an additional 94 shares in the last quarter. LLBH Private Wealth Management LLC purchased a new stake in Raytheon during the second quarter valued at about $43,000. Finally, Meridian Wealth Management LLC purchased a new stake in Raytheon during the first quarter valued at about $46,000. Institutional investors own 72.96% of the company’s stock.
Shares of RTN traded up $2.48 during trading hours on Friday, hitting $201.09. The company had a trading volume of 44,201 shares, compared to its average volume of 1,823,170. The firm has a market cap of $55.73 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.53 and a beta of 0.87. The stock’s 50 day moving average price is $191.62 and its 200 day moving average price is $182.91. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. Raytheon has a 52-week low of $144.27 and a 52-week high of $205.28.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Wednesday, October 9th will be paid a $0.9425 dividend. The ex-dividend date is Tuesday, October 8th. This represents a $3.77 annualized dividend and a dividend yield of 1.87%. Raytheon’s payout ratio is presently 35.53%.
A number of equities research analysts have weighed in on the company. Credit Suisse Group upgraded Raytheon from a “neutral” rating to an “outperform” rating and raised their price target for the company from $188.00 to $230.00 in a research report on Thursday, October 3rd. Sanford C. Bernstein downgraded Raytheon from an “outperform” rating to a “market perform” rating and set a $212.00 price target on the stock. in a research report on Tuesday, September 17th. JPMorgan Chase & Co. upgraded Raytheon from a “neutral” rating to an “overweight” rating and raised their price target for the company from $225.00 to $230.00 in a research report on Monday, September 16th. ValuEngine upgraded Raytheon from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, UBS Group lifted their price objective on Raytheon from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Raytheon has a consensus rating of “Buy” and a consensus target price of $213.00.
In related news, VP Frank R. Jimenez sold 2,500 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $196.76, for a total value of $491,900.00. Following the sale, the vice president now directly owns 25,504 shares of the company’s stock, valued at $5,018,167.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Frank R. Jimenez sold 1,054 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total value of $189,720.00. Following the completion of the sale, the vice president now directly owns 25,863 shares in the company, valued at $4,655,340. The disclosure for this sale can be found here. Insiders sold 16,469 shares of company stock worth $3,114,720 over the last three months. 0.18% of the stock is owned by insiders.
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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