Goelzer Investment Management Inc. Acquires New Holdings in Raytheon (NYSE:RTN)
Goelzer Investment Management Inc. acquired a new stake in Raytheon (NYSE:RTN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,115 shares of the aerospace company’s stock, valued at approximately $219,000.
Other large investors have also recently modified their holdings of the company. Bridger Capital Management LLC bought a new stake in Raytheon in the 3rd quarter valued at about $26,000. Liberty Wealth Management LLC increased its stake in Raytheon by 312.5% during the 3rd quarter. Liberty Wealth Management LLC now owns 132 shares of the aerospace company’s stock valued at $26,000 after buying an additional 100 shares during the period. Garrett Wealth Advisory Group LLC acquired a new position in Raytheon during the 3rd quarter valued at about $32,000. Sound Income Strategies LLC increased its stake in Raytheon by 95.3% during the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock valued at $33,000 after buying an additional 81 shares during the period. Finally, First Financial Corp IN acquired a new position in Raytheon during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 72.46% of the company’s stock.
Shares of Raytheon stock traded up $2.32 during trading on Friday, hitting $219.02. The stock had a trading volume of 37,877 shares, compared to its average volume of 1,595,112. The stock has a 50 day simple moving average of $204.79 and a 200 day simple moving average of $187.62. The company has a market capitalization of $60.40 billion, a PE ratio of 20.65, a P/E/G ratio of 1.72 and a beta of 0.89. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 0.38. Raytheon has a 1 year low of $144.27 and a 1 year high of $218.00.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Wednesday, January 8th will be given a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 1.72%. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.
Several research firms have commented on RTN. Cowen reissued a “buy” rating and set a $225.00 target price on shares of Raytheon in a research note on Thursday, October 24th. Bank of America reissued a “buy” rating and set a $265.00 target price (up previously from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Barclays set a $215.00 target price on shares of Raytheon and gave the company a “hold” rating in a research note on Tuesday, October 8th. UBS Group set a $230.00 target price on shares of Raytheon and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Credit Suisse Group raised their target price on shares of Raytheon from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $217.76.
In related news, VP Frank R. Jimenez sold 1,054 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total transaction of $189,720.00. Following the completion of the sale, the vice president now directly owns 25,863 shares in the company, valued at $4,655,340. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Wesley D. Kremer sold 2,915 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $583,000.00. Following the sale, the vice president now owns 26,260 shares of the company’s stock, valued at $5,252,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,769 shares of company stock valued at $2,120,750. 0.18% of the stock is currently owned by corporate insiders.
Raytheon Company Profile
Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
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