Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $3.49 Million Holdings in Raytheon Company (RTN)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in Raytheon Company (NYSE:RTN) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,625 shares of the aerospace company’s stock after selling 100 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Raytheon were worth $3,492,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of RTN. BlackRock Inc. grew its holdings in Raytheon by 2,166.0% in the 1st quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after buying an additional 18,551,353 shares in the last quarter. Vanguard Group Inc. grew its holdings in Raytheon by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after buying an additional 989,986 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Raytheon by 66.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,289,200 shares of the aerospace company’s stock valued at $196,603,000 after buying an additional 514,800 shares in the last quarter. Independence Advisors LLC purchased a new stake in Raytheon in the 2nd quarter valued at $28,551,000. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in Raytheon in the 1st quarter valued at $58,030,000. Institutional investors own 73.75% of the company’s stock.
Raytheon Company (NYSE RTN) opened at 187.55 on Thursday. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $188.31. The company’s 50-day moving average price is $182.07 and its 200 day moving average price is $166.73. The firm has a market cap of $54.44 billion, a price-to-earnings ratio of 25.90 and a beta of 0.59.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. During the same quarter in the previous year, the business earned $2.38 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts expect that Raytheon Company will post $7.59 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be given a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Wednesday, October 11th. Raytheon’s dividend payout ratio (DPR) is presently 43.94%.
RTN has been the subject of several analyst reports. BidaskClub upgraded Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Buckingham Research upped their target price on Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report on Friday, August 11th. Jefferies Group LLC restated a “buy” rating and issued a $172.00 target price on shares of Raytheon in a report on Monday, June 26th. Royal Bank Of Canada set a $193.00 target price on Raytheon and gave the company a “buy” rating in a report on Monday, August 28th. Finally, Robert W. Baird restated an “outperform” rating and issued a $212.00 target price (up from $170.00) on shares of Raytheon in a report on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Raytheon currently has a consensus rating of “Buy” and a consensus price target of $190.67.
In other Raytheon news, Director Vernon E. Clark sold 829 shares of the business’s 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 completion of the sale, the director now owns 7,588 shares of the company’s stock, valued at $1,367,281.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Frank R. Jimenez sold 650 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $187.27, for a total value of $121,725.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,770 shares of company stock valued at $1,052,376. 0.19% of the stock is owned by company insiders.
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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