Campbell Newman Asset Management Inc. Sells 898 Shares of Raytheon Company (RTN)
Campbell Newman Asset Management Inc. decreased its stake in Raytheon Company (NYSE:RTN) by 0.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,841 shares of the aerospace company’s stock after selling 898 shares during the quarter. Raytheon makes up 2.8% of Campbell Newman Asset Management Inc.’s holdings, making the stock its 12th largest position. Campbell Newman Asset Management Inc.’s holdings in Raytheon were worth $15,476,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of RTN. BlackRock Inc. boosted its stake in shares of Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after buying an additional 18,551,353 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock worth $3,341,355,000 after buying an additional 989,986 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Raytheon by 66.5% in the first quarter. Renaissance Technologies LLC now owns 1,289,200 shares of the aerospace company’s stock worth $196,603,000 after buying an additional 514,800 shares during the last quarter. Independence Advisors LLC purchased a new stake in shares of Raytheon in the second quarter worth about $28,551,000. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Raytheon in the first quarter worth about $58,030,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.
Raytheon Company (NYSE RTN) opened at 187.55 on Thursday. The firm has a market cap of $54.44 billion, a PE ratio of 25.90 and a beta of 0.59. Raytheon Company has a one year low of $132.89 and a one year high of $188.31. The firm’s 50 day moving average price is $182.07 and its 200-day moving average price is $166.73.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.38 EPS. Equities analysts predict that Raytheon Company will post $7.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be paid a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, October 11th. Raytheon’s dividend payout ratio (DPR) is 43.94%.
COPYRIGHT VIOLATION WARNING: This article was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another publication, it was copied illegally and republished in violation of United States and international copyright legislation. The original version of this article can be read at https://www.watchlistnews.com/campbell-newman-asset-management-inc-sells-898-shares-of-raytheon-company-rtn/1609228.html.
In other news, Director Robert E. Beauchamp purchased 1,162 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were acquired at an average price of $171.99 per share, with a total value of $199,852.38. Following the purchase, the director now directly owns 4,303 shares of the company’s stock, valued at $740,072.97. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Frank R. Jimenez sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total value of $90,970.00. Following the sale, the vice president now directly owns 29,292 shares in the company, valued at approximately $5,329,386.48. The disclosure for this sale can be found here. Insiders have sold a total of 5,770 shares of company stock worth $1,052,376 in the last three months. Corporate insiders own 0.19% of the company’s stock.
A number of analysts have recently commented on RTN shares. Robert W. Baird restated an “outperform” rating and issued a $212.00 target price (up previously from $170.00) on shares of Raytheon in a research note on Thursday, August 10th. Vetr downgraded Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price on the stock. in a research note on Wednesday, August 30th. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. BidaskClub downgraded Raytheon from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Buckingham Research upped their target price 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’s stock. The stock has a consensus rating of “Buy” and an average target price of $190.67.
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.
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).
Receive News & 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 companies with Analyst Ratings Network's FREE daily email newsletter.