Raytheon Company (RTN) Shares Sold by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado reduced its stake in shares of Raytheon Company (NYSE:RTN) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 476,946 shares of the aerospace company’s stock after selling 954 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.16% of Raytheon worth $77,017,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of RTN. St. Johns Investment Management Company LLC purchased a new stake in shares of Raytheon during the second quarter valued at approximately $113,000. Crestwood Advisors Group LLC purchased a new stake in shares of Raytheon during the first quarter valued at approximately $110,000. Oakworth Capital Inc. increased its stake in shares of Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock valued at $111,000 after buying an additional 445 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Raytheon during the first quarter valued at approximately $111,000. Finally, Jacobi Capital Management LLC increased its stake 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 buying an additional 553 shares during the period. Institutional investors and hedge funds own 74.72% of the company’s stock.
Raytheon Company (NYSE:RTN) opened at 179.22 on Wednesday. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $181.05. The stock’s 50 day moving average is $171.38 and its 200 day moving average is $160.10. The firm has a market cap of $52.02 billion, a price-to-earnings ratio of 24.75 and a beta of 0.59.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.38 earnings per share. Equities research analysts expect that Raytheon Company will post $7.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th were given a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Friday, June 30th. Raytheon’s dividend payout ratio is presently 43.94%.
Several equities research analysts recently commented on the stock. BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Buckingham Research upped their price objective on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Argus reiterated a “buy” rating and issued a $195.00 price objective (up previously from $175.00) on shares of Raytheon in a research note on Friday, August 4th. Morgan Stanley started coverage on shares of Raytheon in a research note on Tuesday, August 8th. They issued an “equal weight” rating and a $188.00 price objective on the stock. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $212.00 price objective (up previously from $170.00) on shares of Raytheon in a research note on Thursday, August 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $183.01.
In other news, Director Vernon E. Clark sold 829 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $180.19, for a total value of $149,377.51. Following the sale, the director now owns 7,588 shares of the company’s stock, valued at $1,367,281.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert E. Beauchamp acquired 1,162 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the transaction, the director now owns 4,303 shares of the company’s stock, valued at $740,072.97. The disclosure for this purchase can be found here. In the last three months, insiders sold 16,740 shares of company stock worth $2,730,129. 0.19% of the stock is currently owned by insiders.
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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