Raytheon Co. (RTN) Stake Raised by Sanders Capital LLC
Sanders Capital LLC raised its position in Raytheon Co. (NYSE:RTN) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,131,091 shares of the company’s stock after buying an additional 9,071 shares during the period. Raytheon makes up 1.2% of Sanders Capital LLC’s holdings, making the stock its 25th largest position. Sanders Capital LLC owned approximately 0.38% of Raytheon worth $153,344,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of RTN. Ferguson Wellman Capital Management Inc. increased its stake in Raytheon by 6.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 317,893 shares of the company’s stock worth $43,217,000 after buying an additional 19,421 shares during the period. Royal Bank of Canada increased its stake in Raytheon by 66.7% in the first quarter. Royal Bank of Canada now owns 1,136,397 shares of the company’s stock worth $139,356,000 after buying an additional 454,613 shares during the period. Artemis Investment Management LLP increased its stake in Raytheon by 60.4% in the second quarter. Artemis Investment Management LLP now owns 95,575 shares of the company’s stock worth $12,993,000 after buying an additional 35,975 shares during the period. Gluskin Sheff & Assoc Inc. increased its stake in Raytheon by 90.1% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 106,910 shares of the company’s stock worth $14,534,000 after buying an additional 50,679 shares during the period. Finally, Trust Department MB Financial Bank N A increased its stake in Raytheon by 16.8% in the second quarter. Trust Department MB Financial Bank N A now owns 2,335 shares of the company’s stock worth $223,000 after buying an additional 335 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.
Raytheon Co. (NYSE:RTN) traded up 0.31% during trading on Monday, hitting $137.21. 371,778 shares of the stock were exchanged. The firm has a market capitalization of $40.49 billion, a PE ratio of 19.17 and a beta of 0.64. The stock has a 50 day moving average price of $138.93 and a 200-day moving average price of $134.18. Raytheon Co. has a 12-month low of $109.10 and a 12-month high of $143.39.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.64. The business earned $6 billion during the quarter, compared to analyst estimates of $5.83 billion. Raytheon had a net margin of 9.02% and a return on equity of 19.26%. Raytheon’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 earnings per share. On average, equities research analysts anticipate that Raytheon Co. will post $7.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Wednesday, October 5th will be issued a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, October 3rd. Raytheon’s dividend payout ratio is currently 40.86%.
A number of equities research analysts have weighed in on the company. Argus restated a “buy” rating and issued a $161.00 target price on shares of Raytheon in a research report on Wednesday, August 3rd. Citigroup Inc. increased their price objective on Raytheon from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Credit Suisse Group AG reiterated a “buy” rating and set a $151.00 price objective on shares of Raytheon in a research report on Friday, July 29th. JPMorgan Chase & Co. set a $145.00 price objective on Raytheon and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Jefferies Group increased their price objective on Raytheon from $145.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $174.67.
In related news, Director Vernon E. Clark sold 2,540 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $141.01, for a total value of $358,165.40. Following the completion of the sale, the director now owns 7,246 shares of the company’s stock, valued at $1,021,758.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by corporate insiders.
Raytheon Company Profile
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
Receive News & Stock Ratings for Raytheon Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Co. and related stocks with our FREE daily email newsletter.