Raytheon Company (RTN) is United Bank VA’s 6th Largest Position
United Bank VA lessened its position in Raytheon Company (NYSE:RTN) by 3.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 23,971 shares of the aerospace company’s stock after selling 734 shares during the period. Raytheon makes up about 4.3% of United Bank VA’s holdings, making the stock its 6th largest position. United Bank VA’s holdings in Raytheon were worth $4,473,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in RTN. St. Johns Investment Management Company LLC bought a new position in shares of Raytheon in the second quarter valued at approximately $113,000. Jacobi Capital Management LLC lifted its holdings in shares of Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after purchasing an additional 553 shares in the last quarter. Tarbox Family Office Inc. lifted its holdings in shares of Raytheon by 1,666.7% in the second quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after purchasing an additional 750 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Raytheon in the second quarter valued at approximately $139,000. Finally, CWM LLC lifted its holdings in shares of Raytheon by 7.4% in the second quarter. CWM LLC now owns 916 shares of the aerospace company’s stock valued at $148,000 after purchasing an additional 63 shares in the last quarter. 74.24% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on RTN. Vetr lowered Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price on the stock. in a report on Tuesday, August 15th. Stifel Nicolaus restated a “buy” rating and issued a $185.00 target price (up previously from $175.00) on shares of Raytheon in a report on Sunday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating and set a $183.00 price target (up from $180.00) on shares of Raytheon in a report on Sunday, July 30th. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Wednesday, September 20th. Finally, Cowen and Company reiterated an “outperform” rating and set a $189.00 price target (up from $182.00) on shares of Raytheon in a report on Thursday, August 10th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Raytheon currently has a consensus rating of “Buy” and an average target price of $199.24.
Shares of Raytheon Company (NYSE RTN) opened at $184.81 on Monday. The stock has a market capitalization of $53,426.17, a price-to-earnings 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 one year low of $137.70 and a one year 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, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.07. The firm had revenue of $6.28 billion for 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%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.79 earnings per share. equities research analysts predict that Raytheon Company will post 7.61 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th were given a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Wednesday, October 11th. Raytheon’s dividend payout ratio (DPR) is presently 42.88%.
In other news, VP Frank R. Jimenez sold 500 shares of Raytheon stock in a transaction 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 transaction, the vice president now directly owns 29,292 shares in the company, valued at $5,329,386.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Frank R. Jimenez sold 650 shares of Raytheon stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $187.27, for a total value of $121,725.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,941 shares of company stock valued at $902,999. 0.19% of the stock is owned by company insiders.
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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