Stonebridge Capital Management Inc. Purchases Shares of 1,100 Raytheon Company (RTN)
Stonebridge Capital Management Inc. acquired a new stake in shares of Raytheon Company (NYSE:RTN) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,100 shares of the aerospace company’s stock, valued at approximately $205,000.
Other institutional investors have also recently bought and sold shares of the company. St. Johns Investment Management Company LLC bought a new stake in Raytheon during the 2nd quarter valued at approximately $113,000. Jacobi Capital Management LLC boosted its position in Raytheon by 271.1% during the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after acquiring an additional 553 shares in the last quarter. Tarbox Family Office Inc. boosted its position in Raytheon by 1,666.7% during the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after acquiring an additional 750 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Raytheon during the 2nd quarter valued at approximately $139,000. Finally, CWM LLC boosted its position in Raytheon by 7.4% during the 2nd quarter. CWM LLC now owns 916 shares of the aerospace company’s stock valued at $148,000 after acquiring an additional 63 shares in the last quarter. 74.24% of the stock is currently owned by institutional investors and hedge funds.
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In other Raytheon 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 transaction of $121,725.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Taylor W. Lawrence sold 3,791 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were 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. Over the last quarter, insiders have sold 4,941 shares of company stock valued at $902,999. Company insiders own 0.19% of the company’s stock.
Raytheon Company (RTN) opened at $184.27 on Friday. The stock has a market capitalization of $52,859.56, a P/E ratio of 24.19, a P/E/G ratio of 2.48 and a beta of 0.57. Raytheon Company has a 12-month low of $137.70 and a 12-month 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.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.07. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.79 EPS. equities analysts anticipate that Raytheon Company will post 7.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd will be paid a dividend of $0.7975 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $3.19 dividend on an annualized basis and a yield of 1.73%. Raytheon’s dividend payout ratio is presently 42.88%.
Raytheon announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 15th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
Several analysts have weighed in on RTN shares. Argus reaffirmed a “buy” rating and set a $195.00 price objective (up from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Bank of America Corporation reissued a “buy” rating and issued a $200.00 price target (up from $185.00) on shares of Raytheon in a research report on Tuesday, August 1st. BidaskClub cut Raytheon from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Stifel Nicolaus reissued a “buy” rating and issued a $185.00 price target (up from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. Finally, Royal Bank Of Canada set a $193.00 price target on Raytheon and gave the stock a “buy” rating in a research report on Monday, August 28th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $200.18.
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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