Raytheon Company (RTN) is United Bank VA’s 9th Largest Position
United Bank VA lifted its position in Raytheon Company (NYSE:RTN) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,705 shares of the aerospace company’s stock after buying an additional 1,833 shares during the quarter. Raytheon makes up approximately 3.9% of United Bank VA’s portfolio, making the stock its 9th biggest holding. United Bank VA’s holdings in Raytheon were worth $3,990,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in RTN. St. Johns Investment Management Company LLC purchased a new stake in Raytheon in the second quarter valued at approximately $113,000. Jacobi Capital Management LLC raised its stake in 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. raised its stake in 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. purchased a new stake in Raytheon in the second quarter valued at approximately $139,000. Finally, CWM LLC raised its stake in 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. 73.80% of the stock is currently owned by hedge funds and other institutional investors.
In other Raytheon news, VP Frank R. Jimenez sold 650 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Taylor W. Lawrence sold 3,791 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $182.09, for a total value of $690,303.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,770 shares of company stock worth $1,052,376. Insiders own 0.19% of the company’s stock.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the firm posted $1.79 EPS. Raytheon’s quarterly revenue was up 4.5% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be paid a $0.7975 dividend. The ex-dividend date is Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a yield of 1.73%. Raytheon’s payout ratio is 42.88%.
A number of equities research analysts recently weighed in on RTN shares. BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Vetr raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $178.87 target price on the stock in a research note on Monday, July 17th. Sanford C. Bernstein reissued an “outperform” rating and set a $183.00 price target (up from $180.00) on shares of Raytheon in a research note on Sunday, July 30th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $185.00 price target (up from $175.00) on shares of Raytheon in a research note on Sunday, July 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Raytheon currently has an average rating of “Buy” and a consensus price target of $199.24.
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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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