Raytheon Company (RTN) Shares Bought by Piedmont Investment Advisors LLC
Piedmont Investment Advisors LLC boosted its position in Raytheon Company (NYSE:RTN) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,023 shares of the aerospace company’s stock after buying an additional 538 shares during the period. Piedmont Investment Advisors LLC’s holdings in Raytheon were worth $9,611,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the company. Banced Corp raised its position in shares of Raytheon by 6.0% in the first quarter. Banced Corp now owns 2,995 shares of the aerospace company’s stock worth $457,000 after buying an additional 169 shares during the period. Edge Wealth Management LLC raised its position in shares of Raytheon by 2.6% in the first quarter. Edge Wealth Management LLC now owns 12,028 shares of the aerospace company’s stock worth $1,838,000 after buying an additional 303 shares during the period. Honkamp Krueger Financial Services Inc. raised its position in shares of Raytheon by 1.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 6,953 shares of the aerospace company’s stock worth $1,060,000 after buying an additional 121 shares during the period. Private Bank & Trust Co. raised its position in shares of Raytheon by 3.6% in the first quarter. Private Bank & Trust Co. now owns 5,811 shares of the aerospace company’s stock worth $886,000 after buying an additional 200 shares during the period. Finally, North American Management Corp raised its position in shares of Raytheon by 2.8% in the first quarter. North American Management Corp now owns 34,569 shares of the aerospace company’s stock worth $5,272,000 after buying an additional 935 shares during the period. Institutional investors own 74.72% of the company’s stock.
Raytheon Company (NYSE:RTN) traded down 0.01% during midday trading on Wednesday, hitting $178.20. The stock had a trading volume of 656,701 shares. The stock has a 50 day moving average of $169.57 and a 200 day moving average of $159.17. The stock has a market cap of $51.72 billion, a price-to-earnings ratio of 24.61 and a beta of 0.59. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $181.05.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same period in the prior year, the company earned $2.38 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. Analysts expect that Raytheon Company will post $7.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors 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 yield of 1.79%. Raytheon’s dividend payout ratio is currently 43.94%.
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RTN has been the subject of a number of research analyst reports. Stifel Nicolaus raised their target price on Raytheon from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Deutsche Bank AG raised their target price on Raytheon from $156.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a research note on Monday, May 1st. Vetr lowered Raytheon from a “buy” rating to a “hold” rating and set a $166.27 target price for the company. in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $172.00 target price on shares of Raytheon in a research note on Tuesday, May 23rd. Four investment 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 company has an average rating of “Buy” and an average target price of $183.01.
In related news, VP Wesley D. Kremer sold 1,010 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total transaction of $164,731.00. Following the completion of the transaction, the vice president now directly owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vernon E. Clark sold 829 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $180.19, for a total transaction of $149,377.51. Following the transaction, the director now directly owns 7,588 shares of the company’s stock, valued at $1,367,281.72. 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 currently 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.
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