Jacobi Capital Management LLC Buys 553 Shares of Raytheon Company (RTN)
Jacobi Capital Management LLC increased its position in Raytheon Company (NYSE:RTN) by 271.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 757 shares of the aerospace company’s stock after buying an additional 553 shares during the period. Jacobi Capital Management LLC’s holdings in Raytheon were worth $114,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of RTN. BlackRock Inc. increased its position 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. increased its position 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 increased its position 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. MARSHALL WACE ASIA Ltd bought a new position in shares of Raytheon during the first quarter worth approximately $58,030,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Raytheon during the first quarter worth approximately $58,030,000. Hedge funds and other institutional investors own 74.72% of the company’s stock.
Shares of Raytheon Company (RTN) traded up 0.03% during midday trading on Wednesday, reaching $178.27. The company had a trading volume of 604,741 shares. The company’s 50-day moving average is $169.57 and its 200-day moving average is $159.17. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $181.05. The firm has a market cap of $51.74 billion, a P/E ratio of 24.62 and a beta of 0.59.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. Equities research analysts expect that Raytheon Company will post $7.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th were paid a $0.7975 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a yield of 1.79%. Raytheon’s payout ratio is 43.94%.
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Several research analysts have recently issued reports on RTN shares. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price target for the company. in a research note on Tuesday, May 9th. Deutsche Bank AG increased their price target on Raytheon from $156.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $181.00 price target on shares of Raytheon in a research note on Friday, June 2nd. Finally, BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $183.01.
In other Raytheon news, Director Robert E. Beauchamp bought 1,162 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was purchased at an average cost of $171.99 per share, with a total value of $199,852.38. Following the completion of the purchase, the director now owns 4,303 shares in the company, valued at $740,072.97. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Vernon E. Clark sold 829 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $180.19, for a total value of $149,377.51. Following the completion of the transaction, the director now directly owns 7,588 shares of the company’s stock, valued at $1,367,281.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,740 shares of company stock valued at $2,730,129. Insiders own 0.19% of the company’s stock.
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.
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