Fulton Breakefield Broenniman LLC Has $8 Million Stake in Raytheon (NYSE:RTN)
Fulton Breakefield Broenniman LLC boosted its position in shares of Raytheon (NYSE:RTN) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,384 shares of the aerospace company’s stock after acquiring an additional 513 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Raytheon were worth $7,995,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Liberty Wealth Management LLC raised its holdings in shares of Raytheon by 312.5% in the 3rd quarter. Liberty Wealth Management LLC now owns 132 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Bridger Capital Management LLC bought a new position in Raytheon during the third quarter worth about $26,000. Garrett Wealth Advisory Group LLC acquired a new position in Raytheon during the third quarter worth approximately $32,000. Sound Income Strategies LLC increased its position in Raytheon by 95.3% during the third quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock worth $33,000 after buying an additional 81 shares during the last quarter. Finally, First Financial Corp IN acquired a new position in Raytheon during the third quarter worth approximately $33,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the company. Sanford C. Bernstein raised their price objective on Raytheon from $212.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Credit Suisse Group lifted their target price on Raytheon from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. ValuEngine lowered Raytheon from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. set a $240.00 price target on Raytheon and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, UBS Group set a $230.00 price target on Raytheon and gave the company a “hold” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $219.69.
Shares of NYSE RTN traded up $0.25 during trading hours on Tuesday, reaching $227.40. 1,119,842 shares of the stock were exchanged, compared to its average volume of 1,520,985. The firm has a market capitalization of $63.07 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 1.65 and a beta of 0.88. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.44 and a current ratio of 1.54. Raytheon has a 52 week low of $158.16 and a 52 week high of $232.47. The stock’s fifty day simple moving average is $220.24 and its 200 day simple moving average is $199.99.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.86 by $0.22. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the previous year, the company posted $2.25 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts predict that Raytheon will post 11.88 EPS for the current fiscal year.
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 issued a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, January 7th. Raytheon’s dividend payout ratio is currently 35.53%.
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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