Eaton Vance Management Sells 12,641 Shares of Raytheon Company (RTN)
Eaton Vance Management trimmed its stake in shares of Raytheon Company (NYSE:RTN) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 348,336 shares of the aerospace company’s stock after selling 12,641 shares during the quarter. Eaton Vance Management owned about 0.12% of Raytheon worth $56,249,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. National Pension Service lifted its position in Raytheon by 12.1% during the 2nd quarter. National Pension Service now owns 248,655 shares of the aerospace company’s stock worth $39,892,000 after acquiring an additional 26,830 shares during the period. Lockheed Martin Investment Management Co. acquired a new stake in shares of Raytheon in the 1st quarter valued at approximately $1,830,000. Abner Herrman & Brock LLC lifted its holdings in shares of Raytheon by 8.2% in the 2nd quarter. Abner Herrman & Brock LLC now owns 77,617 shares of the aerospace company’s stock valued at $12,534,000 after buying an additional 5,866 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Raytheon by 13.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,720 shares of the aerospace company’s stock valued at $1,085,000 after buying an additional 820 shares during the period. Finally, Appleton Partners Inc. MA lifted its holdings in shares of Raytheon by 13.7% in the 2nd quarter. Appleton Partners Inc. MA now owns 8,345 shares of the aerospace company’s stock valued at $1,348,000 after buying an additional 1,005 shares during the period. 73.74% of the stock is owned by institutional investors.
In other Raytheon news, VP Frank R. Jimenez sold 650 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Taylor W. Lawrence sold 3,791 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $182.09, for a total value of $690,303.19. The disclosure for this sale can be found here. Insiders sold 5,770 shares of company stock valued at $1,052,376 over the last 90 days. 0.19% of the stock is currently owned by insiders.
Several research firms have recently commented on RTN. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price target for the company in a report on Thursday, September 14th. Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price target for the company. in a report on Tuesday, August 15th. BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Deutsche Bank AG raised Raytheon from a “hold” rating to a “buy” rating and raised their price target for the company from $180.00 to $210.00 in a report on Friday, September 29th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $185.00 price target (up from $175.00) on shares of Raytheon in a report on Sunday, July 30th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Raytheon currently has a consensus rating of “Buy” and an average price target of $190.67.
Raytheon Company (RTN) opened at 187.73 on Monday. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $188.31. The company has a 50-day moving average price of $182.63 and a 200 day moving average price of $167.10. The stock has a market capitalization of $54.49 billion, a P/E ratio of 25.93 and a beta of 0.59.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.38 earnings per share. On average, equities analysts predict that Raytheon Company will post $7.59 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be given a $0.7975 dividend. The ex-dividend date is Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a yield of 1.70%. Raytheon’s dividend payout ratio (DPR) is 43.94%.
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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