Westpac Banking Corp Has $3.71 Million Holdings in Raytheon Company (RTN)
Westpac Banking Corp lowered its position in Raytheon Company (NYSE:RTN) by 2.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,858 shares of the aerospace company’s stock after selling 453 shares during the period. Westpac Banking Corp’s holdings in Raytheon were worth $3,705,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the business. St. Johns Investment Management Company LLC acquired a new position in shares of Raytheon during the 2nd quarter worth about $113,000. Jacobi Capital Management LLC raised its position in shares of Raytheon by 271.1% during the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after purchasing an additional 553 shares during the last quarter. Tarbox Family Office Inc. raised its position in shares of Raytheon by 1,666.7% during the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock worth $128,000 after purchasing an additional 750 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Raytheon during the 2nd quarter worth about $139,000. Finally, CWM LLC raised its position in shares of Raytheon by 7.4% during the 2nd quarter. CWM LLC now owns 916 shares of the aerospace company’s stock worth $148,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 74.24% of the company’s stock.
Shares of Raytheon Company (NYSE:RTN) opened at $184.81 on Monday. The stock has a market cap of $53,426.17, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 2.51 and a beta of 0.57. Raytheon Company has a fifty-two week low of $137.70 and a fifty-two week high of $190.25. The company has a current ratio of 1.66, a quick ratio of 1.55 and a debt-to-equity ratio of 0.44.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.79 EPS. equities analysts predict that Raytheon Company will post 7.61 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th were issued a $0.7975 dividend. The ex-dividend date of this dividend was Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.73%. Raytheon’s payout ratio is 42.88%.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price target for the company in a research report on Thursday, September 14th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $199.00 price objective (up previously from $188.00) on shares of Raytheon in a report on Monday, October 30th. They noted that the move was a valuation call. Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a report on Tuesday, August 15th. Wells Fargo & Company cut their price objective on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, October 27th. Finally, Buckingham Research increased their price objective on shares of Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Raytheon presently has a consensus rating of “Buy” and an average price target of $199.24.
In other news, VP Taylor W. Lawrence sold 3,791 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total value of $690,303.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Frank R. Jimenez sold 500 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total transaction of $90,970.00. Following the completion of the sale, the vice president now owns 29,292 shares in the company, valued at $5,329,386.48. The disclosure for this sale can be found here. Insiders sold a total of 4,941 shares of company stock worth $902,999 over the last 90 days. Company insiders own 0.19% of the company’s stock.
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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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