Bienville Capital Management LLC Has $333,000 Position in Raytheon Company (RTN)
Bienville Capital Management LLC maintained its stake in Raytheon Company (NYSE:RTN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,050 shares of the aerospace company’s stock at the close of the 2nd quarter. Bienville Capital Management LLC’s holdings in Raytheon were worth $333,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in RTN. St. Johns Investment Management Company LLC purchased a new stake in Raytheon during the 2nd quarter valued at $113,000. Jacobi Capital Management LLC raised its stake 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 buying an additional 553 shares during the last quarter. Tarbox Family Office Inc. raised its stake 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 buying an additional 750 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in Raytheon during the 2nd quarter valued at $139,000. Finally, CWM LLC raised its stake 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 buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.
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Shares of Raytheon Company (NYSE RTN) opened at 187.73 on Friday. The stock has a market cap of $54.49 billion, a price-to-earnings ratio of 25.93 and a beta of 0.59. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $188.31. The firm has a 50-day moving average price of $182.63 and a 200-day moving average price of $167.10.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same quarter in the previous year, the company earned $2.38 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Raytheon Company will post $7.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be issued a $0.7975 dividend. The ex-dividend date is Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a yield of 1.70%. Raytheon’s payout ratio is 43.94%.
In other Raytheon news, VP Taylor W. Lawrence sold 3,791 shares of Raytheon 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 500 shares of Raytheon 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 transaction, the vice president now directly owns 29,292 shares of the company’s stock, valued at approximately $5,329,386.48. The disclosure for this sale can be found here. Insiders sold 5,770 shares of company stock valued at $1,052,376 in the last ninety days. 0.19% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on RTN shares. Robert W. Baird reiterated an “outperform” rating and set a $212.00 target price (up from $170.00) on shares of Raytheon in a research note on Thursday, August 10th. Vetr lowered Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a research note on Wednesday, August 30th. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. BidaskClub lowered Raytheon from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Buckingham Research upped their price objective on Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $190.67.
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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