Anderson Hoagland & Co. reduced its position in Raytheon Company (NYSE:RTN) by 10.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,660 shares of the aerospace company’s stock after selling 1,626 shares during the period. Raytheon makes up about 1.5% of Anderson Hoagland & Co.’s investment portfolio, making the stock its 16th largest position. Anderson Hoagland & Co.’s holdings in Raytheon were worth $2,367,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. St. Johns Investment Management Company LLC purchased a new position in Raytheon during the second quarter worth $113,000. Crestwood Advisors Group LLC purchased a new position in Raytheon during the first quarter worth $110,000. Oakworth Capital Inc. increased its position in Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock valued at $111,000 after buying an additional 445 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in Raytheon during the first quarter valued at approximately $111,000. Finally, Jacobi Capital Management LLC increased its position in Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after buying an additional 553 shares during the period. Institutional investors and hedge funds own 74.72% of the company’s stock.
Shares of Raytheon Company (NYSE RTN) opened at 178.08 on Thursday. The company has a market capitalization of $51.69 billion, a PE ratio of 24.60 and a beta of 0.59. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05. The stock has a 50 day moving average of $170.05 and a 200-day moving average of $159.30.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The business had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. During the same period in the previous year, the company posted $2.38 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts predict that Raytheon Company will post $7.59 earnings per share 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 given a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Friday, June 30th. Raytheon’s dividend payout ratio is presently 43.94%.
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Several research firms have recently commented on RTN. Vetr downgraded 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 raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Robert W. Baird reissued an “outperform” rating and issued a $212.00 target price (up previously from $170.00) on shares of Raytheon in a report on Thursday, August 10th. Cowen and Company reissued an “outperform” rating and issued a $189.00 target price (up previously from $182.00) on shares of Raytheon in a report on Thursday, August 10th. Finally, Buckingham Research boosted their target price on shares of Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $183.01.
In related news, Director Vernon E. Clark sold 829 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $180.19, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael J. Wood sold 1,442 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.98, for a total value of $235,017.16. Following the completion of the transaction, the chief accounting officer now directly owns 18,470 shares of the company’s stock, valued at $3,010,240.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,740 shares of company stock valued at $2,730,129. Corporate insiders own 0.19% of the company’s stock.
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.
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