Wesbanco Bank Inc. grew its holdings in shares of Raytheon Company (NYSE:RTN) by 32.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,136 shares of the aerospace company’s stock after purchasing an additional 16,142 shares during the period. Wesbanco Bank Inc.’s holdings in Raytheon were worth $12,153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Guardian Life Insurance Co. of America increased its holdings in shares of Raytheon by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the aerospace company’s stock valued at $173,000 after purchasing an additional 7 shares during the period. HM Capital Management LLC increased its holdings in shares of Raytheon by 0.5% during the second quarter. HM Capital Management LLC now owns 2,025 shares of the aerospace company’s stock valued at $327,000 after purchasing an additional 10 shares during the period. Ironwood Investment Management LLC increased its holdings in shares of Raytheon by 0.7% during the second quarter. Ironwood Investment Management LLC now owns 2,475 shares of the aerospace company’s stock valued at $400,000 after purchasing an additional 16 shares during the period. Pineno Levin & Ford Asset Management Inc. increased its holdings in shares of Raytheon by 0.8% during the second quarter. Pineno Levin & Ford Asset Management Inc. now owns 1,903 shares of the aerospace company’s stock valued at $307,000 after purchasing an additional 16 shares during the period. Finally, TCI Wealth Advisors Inc. increased its holdings in shares of Raytheon by 0.8% during the second quarter. TCI Wealth Advisors Inc. now owns 2,048 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 17 shares during the period. 74.24% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on the company. Robert W. Baird reaffirmed a “buy” rating and set a $212.00 target price on shares of Raytheon in a research note on Tuesday, October 24th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $209.00 target price on shares of Raytheon in a research note on Tuesday, October 10th. Citigroup Inc. reaffirmed a “buy” rating and set a $215.00 target price (up previously from $192.00) on shares of Raytheon in a research note on Monday, October 9th. ValuEngine cut Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Cowen and Company reaffirmed a “buy” rating and set a $203.00 target price on shares of Raytheon in a research note on Thursday, October 19th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $200.18.

TRADEMARK VIOLATION NOTICE: This news story was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another domain, it was stolen and republished in violation of international copyright and trademark laws. The original version of this news story can be read at https://www.thecerbatgem.com/2017/11/19/raytheon-company-rtn-shares-bought-by-wesbanco-bank-inc.html.

In other Raytheon news, VP Frank R. Jimenez sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was 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 directly owns 29,292 shares in the company, valued at approximately $5,329,386.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was 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. Insiders have sold a total of 4,941 shares of company stock valued at $902,999 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Raytheon Company (RTN) opened at $182.85 on Friday. 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 Company has a 1 year low of $137.70 and a 1 year high of $190.25. The firm has a market capitalization of $52,859.56, a price-to-earnings ratio of 24.19, a P/E/G ratio of 2.48 and a beta of 0.57.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The business had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter last year, the company posted $1.79 EPS. Raytheon’s revenue for the quarter was up 4.5% on a year-over-year basis. research analysts expect that Raytheon Company will post 7.61 earnings per share for the current fiscal year.

Raytheon announced that its Board of Directors has approved a share buyback program on Wednesday, November 15th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd will be given a dividend of $0.7975 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 dividend on an annualized basis and a yield of 1.74%. Raytheon’s payout ratio is presently 42.88%.

About Raytheon

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.

Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Company (NYSE:RTN).

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Receive News & Stock Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related stocks with our FREE daily email newsletter.