Prospera Financial Services Inc increased its stake in shares of Raytheon Company (NYSE:RTN) by 26.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,382 shares of the aerospace company’s stock after buying an additional 493 shares during the period. Prospera Financial Services Inc’s holdings in Raytheon were worth $386,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Harvey Capital Management Inc. acquired a new stake in Raytheon during the second quarter worth $4,545,000. Highland Capital Management LLC raised its stake in Raytheon by 39.7% in the second quarter. Highland Capital Management LLC now owns 25,129 shares of the aerospace company’s stock worth $4,058,000 after buying an additional 7,140 shares in the last quarter. Patten & Patten Inc. TN raised its stake in Raytheon by 1.9% in the second quarter. Patten & Patten Inc. TN now owns 76,827 shares of the aerospace company’s stock worth $12,406,000 after buying an additional 1,465 shares in the last quarter. Aperio Group LLC raised its stake in Raytheon by 6.8% in the second quarter. Aperio Group LLC now owns 276,335 shares of the aerospace company’s stock worth $44,623,000 after buying an additional 17,688 shares in the last quarter. Finally, Tarbox Family Office Inc. raised its stake in Raytheon by 1,666.7% in the second quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock worth $128,000 after buying an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 74.72% of the company’s stock.
Raytheon Company (NYSE RTN) opened at 178.08 on Thursday. The stock’s 50 day moving average is $170.05 and its 200-day moving average is $159.30. The company has a market capitalization of $51.69 billion, a P/E ratio of 24.60 and a beta of 0.59. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $181.05.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The firm had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same period in the previous year, the company earned $2.38 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts predict that Raytheon Company will post $7.59 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th were issued a dividend of $0.7975 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $3.19 annualized dividend and a dividend yield of 1.79%. Raytheon’s payout ratio is 43.94%.
A number of equities research analysts recently weighed in on the stock. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price on the stock. in a report on Tuesday. BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Robert W. Baird reaffirmed an “outperform” rating and issued a $212.00 price objective (up from $170.00) on shares of Raytheon in a research report on Thursday, August 10th. Cowen and Company reaffirmed an “outperform” rating and issued a $189.00 price objective (up from $182.00) on shares of Raytheon in a research report on Thursday, August 10th. Finally, Buckingham Research upped their price objective on shares of Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $183.01.
In other news, Director Vernon E. Clark sold 829 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the transaction, the director now directly owns 7,588 shares of the company’s stock, valued at $1,367,281.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Wesley D. Kremer sold 1,010 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total transaction of $164,731.00. Following the sale, the vice president now owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The disclosure for this sale can be found here. Insiders have sold 16,740 shares of company stock valued at $2,730,129 over the last three months. 0.19% of the stock is owned by corporate insiders.
Raytheon Company Profile
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.
Receive News & Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related companies with our FREE daily email newsletter.