Northstar Wealth Partners LLC Lowers Position in Raytheon Company (RTN)
Northstar Wealth Partners LLC reduced its position in Raytheon Company (NYSE:RTN) by 32.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,317 shares of the aerospace company’s stock after selling 640 shares during the period. Northstar Wealth Partners LLC’s holdings in Raytheon were worth $247,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in RTN. St. Johns Investment Management Company LLC purchased a new position in Raytheon during the 2nd quarter valued at about $113,000. Jacobi Capital Management LLC grew its holdings 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 in the last quarter. Tarbox Family Office Inc. grew its holdings 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 in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Raytheon during the 2nd quarter valued at about $139,000. Finally, CWM LLC grew its holdings 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 in the last quarter. Institutional investors and hedge funds own 74.15% of the company’s stock.
In other Raytheon news, VP Frank R. Jimenez sold 500 shares of the company’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 completion of the sale, the vice president now owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vernon E. Clark sold 829 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $180.19, for a total value of $149,377.51. Following the completion of the sale, the director now directly owns 7,588 shares of the company’s stock, valued at approximately $1,367,281.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,770 shares of company stock valued at $1,052,376. 0.19% of the stock is owned by insiders.
RTN has been the subject of a number of recent analyst reports. BidaskClub lowered Raytheon from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Argus reaffirmed a “buy” rating and set a $195.00 target price (up previously from $175.00) on shares of Raytheon in a report on Friday, August 4th. Bank of America Corporation reaffirmed a “buy” rating and set a $200.00 target price (up previously from $185.00) on shares of Raytheon in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 target price (up previously from $175.00) on shares of Raytheon in a report on Sunday, July 30th. Finally, Buckingham Research lifted their target price on Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report on Friday, August 11th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $199.24.
Shares of Raytheon Company (NYSE:RTN) opened at $184.81 on Friday. The stock has a market capitalization of $53,426.17, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 2.51 and a beta of 0.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. Raytheon Company has a 52 week low of $137.70 and a 52 week high of $190.25.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.07. The business had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. Raytheon’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.79 earnings per share. equities analysts expect that Raytheon Company will post 7.61 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th were paid a $0.7975 dividend. This represents a $3.19 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Wednesday, October 11th. Raytheon’s dividend payout ratio is currently 42.88%.
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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