Raytheon Company (RTN) Stake Increased by Harfst & Associates Inc.
Harfst & Associates Inc. grew its holdings in shares of Raytheon Company (NYSE:RTN) by 4.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,929 shares of the aerospace company’s stock after acquiring an additional 131 shares during the period. Harfst & Associates Inc.’s holdings in Raytheon were worth $472,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. National Pension Service grew its stake in shares of Raytheon by 12.1% during the second quarter. National Pension Service now owns 248,655 shares of the aerospace company’s stock valued at $39,892,000 after acquiring an additional 26,830 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new stake in shares of Raytheon during the first quarter valued at about $1,830,000. Abner Herrman & Brock LLC grew its stake in shares of Raytheon by 8.2% during the second quarter. Abner Herrman & Brock LLC now owns 77,617 shares of the aerospace company’s stock valued at $12,534,000 after acquiring an additional 5,866 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in shares of Raytheon by 13.9% during the second quarter. Kornitzer Capital Management Inc. KS now owns 6,720 shares of the aerospace company’s stock valued at $1,085,000 after acquiring an additional 820 shares in the last quarter. Finally, Appleton Partners Inc. MA grew its stake in shares of Raytheon by 13.7% during the second quarter. Appleton Partners Inc. MA now owns 8,345 shares of the aerospace company’s stock valued at $1,348,000 after acquiring an additional 1,005 shares in the last quarter. Institutional investors own 73.62% of the company’s stock.
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Raytheon Company (RTN) opened at 186.95 on Friday. The company has a market cap of $54.26 billion, a PE ratio of 25.82 and a beta of 0.59. The firm has a 50-day moving average of $184.96 and a 200-day moving average of $169.38. Raytheon Company has a one year low of $132.89 and a one year high of $189.64.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations 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. On average, analysts predict that Raytheon Company will post $7.59 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be paid a $0.7975 dividend. The ex-dividend date of this dividend is Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a yield of 1.71%. Raytheon’s payout ratio is currently 43.94%.
RTN has been the subject of several recent analyst reports. Argus restated a “buy” rating and set a $195.00 target price (up from $175.00) on shares of Raytheon in a research note on Friday, August 4th. Bank of America Corporation reiterated a “buy” rating and issued a $200.00 price target (up from $185.00) on shares of Raytheon in a research note on Tuesday, August 1st. BidaskClub downgraded Raytheon from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $185.00 price target (up from $175.00) on shares of Raytheon in a research note on Sunday, July 30th. Finally, Vetr upgraded Raytheon from a “hold” rating to a “buy” rating and set a $178.87 price target for the company in a research note on Monday, July 17th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Raytheon presently has a consensus rating of “Buy” and a consensus price target of $194.07.
In related news, VP Taylor W. Lawrence sold 3,791 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $182.09, for a total value of $690,303.19. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 650 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $187.27, for a total transaction of $121,725.50. The disclosure for this sale can be found here. In the last three months, insiders sold 5,770 shares of company stock worth $1,052,376. 0.19% of the stock is currently owned by 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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