Raytheon Company (RTN) Shares Sold by Summit Securities Group LLC
Summit Securities Group LLC cut its stake in Raytheon Company (NYSE:RTN) by 50.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,900 shares of the aerospace company’s stock after selling 2,961 shares during the quarter. Summit Securities Group LLC’s holdings in Raytheon were worth $541,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. St. Johns Investment Management Company LLC purchased a new position in shares of Raytheon in the second quarter worth approximately $113,000. Jacobi Capital Management LLC boosted its holdings in shares of Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after buying an additional 553 shares during the last quarter. Tarbox Family Office Inc. boosted its holdings in shares of Raytheon by 1,666.7% in the second quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock worth $128,000 after buying an additional 750 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of Raytheon in the second quarter worth approximately $139,000. Finally, CWM LLC boosted its holdings in shares of Raytheon by 7.4% in the second quarter. CWM LLC now owns 916 shares of the aerospace company’s stock worth $148,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 74.24% of the company’s stock.
Raytheon Company (NYSE RTN) opened at $183.94 on Wednesday. Raytheon Company has a 1-year low of $137.70 and a 1-year high of $190.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. The company has a market cap of $53,324.99, a price-to-earnings ratio of 24.40, a PEG ratio of 2.51 and a beta of 0.57.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The firm had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the previous year, the firm earned $1.79 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. research analysts expect that Raytheon Company will post 7.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th were issued a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Wednesday, October 11th. Raytheon’s dividend payout ratio (DPR) is presently 42.88%.
RTN has been the topic of a number of research reports. Argus reissued a “buy” rating and issued a $195.00 price objective (up previously from $175.00) on shares of Raytheon in a report on Friday, August 4th. Bank of America Corporation reissued a “buy” rating and issued a $200.00 price objective (up previously from $185.00) on shares of Raytheon in a report on Tuesday, August 1st. BidaskClub downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Stifel Nicolaus reissued a “buy” rating and issued a $185.00 price objective (up previously from $175.00) on shares of Raytheon in a report on Sunday, July 30th. Finally, Royal Bank Of Canada set a $193.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a report on Monday, August 28th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Raytheon currently has an average rating of “Buy” and an average price target of $199.24.
In other news, VP Frank R. Jimenez sold 650 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were 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 SEC, which is available at the SEC website. Also, VP Taylor W. Lawrence sold 3,791 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $182.09, for a total transaction of $690,303.19. The disclosure for this sale can be found here. Insiders sold 4,941 shares of company stock worth $902,999 in the last three months. Insiders own 0.19% of the company’s stock.
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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