Raytheon Company (RTN) Position Maintained by Marquette Asset Management Inc.
Marquette Asset Management Inc. continued to hold its stake in Raytheon Company (NYSE:RTN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,506 shares of the aerospace company’s stock at the end of the second quarter. Marquette Asset Management Inc.’s holdings in Raytheon were worth $243,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in RTN. Vanguard Group Inc. boosted its stake in Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after buying an additional 989,986 shares in the last quarter. BlackRock Inc. boosted its stake in Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after buying an additional 18,551,353 shares in the last quarter. State Street Corp boosted its stake in Raytheon by 2.6% in the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock valued at $1,919,348,000 after buying an additional 313,435 shares in the last quarter. Morgan Stanley boosted its stake in Raytheon by 7.2% in the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock valued at $684,945,000 after buying an additional 302,274 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Raytheon by 0.7% in the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock valued at $537,996,000 after buying an additional 23,172 shares in the last quarter. 74.72% of the stock is currently owned by institutional investors.
Raytheon Company (NYSE RTN) traded down 1.09% on Tuesday, reaching $178.38. 776,448 shares of the company traded hands. The stock has a market capitalization of $51.77 billion, a price-to-earnings ratio of 24.64 and a beta of 0.59. The firm has a 50 day moving average price of $169.11 and a 200 day moving average price of $158.93. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $181.05.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.38 EPS. Equities research analysts predict that Raytheon Company will post $7.59 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors 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 annualized dividend and a dividend yield of 1.77%. Raytheon’s payout ratio is 43.94%.
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Several equities research analysts have issued reports on RTN shares. Robert W. Baird reaffirmed an “outperform” rating and set a $212.00 price target (up from $170.00) on shares of Raytheon in a research note on Thursday, August 10th. Vetr raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $178.87 price target on the stock in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a report on Monday, May 1st. BidaskClub lowered shares of Raytheon from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Buckingham Research increased their price objective on shares of Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $183.01.
In related news, VP Wesley D. Kremer sold 1,010 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total value of $164,731.00. Following the completion of the sale, the vice president now owns 23,136 shares of the company’s stock, valued at approximately $3,773,481.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Michael J. Wood sold 1,442 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.98, for a total value of $235,017.16. Following the completion of the sale, the chief accounting officer now directly owns 18,470 shares of the company’s stock, valued at approximately $3,010,240.60. The disclosure for this sale can be found here. In the last three months, insiders sold 15,911 shares of company stock valued at $2,580,752. 0.19% of the stock is currently 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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