Miles Capital Inc. cut its holdings in Raytheon (NYSE:RTN) by 2.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,879 shares of the aerospace company’s stock after selling 58 shares during the quarter. Miles Capital Inc.’s holdings in Raytheon were worth $633,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in RTN. Liberty Wealth Management LLC grew its position in shares of Raytheon by 312.5% in the third quarter. Liberty Wealth Management LLC now owns 132 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. Bridger Capital Management LLC purchased a new stake in Raytheon during the 3rd quarter worth about $26,000. Garrett Wealth Advisory Group LLC acquired a new position in Raytheon in the 3rd quarter valued at about $32,000. Sound Income Strategies LLC raised its stake in Raytheon by 95.3% in the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 81 shares during the last quarter. Finally, First Financial Corp IN acquired a new position in Raytheon in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 74.45% of the company’s stock.
In other news, Director Stephen J. Hadley sold 1,900 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $232.00, for a total transaction of $440,800.00. Following the completion of the sale, the director now directly owns 8,750 shares of the company’s stock, valued at approximately $2,030,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tracy A. Atkinson sold 500 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $215.48, for a total transaction of $107,740.00. Following the sale, the director now directly owns 4,376 shares of the company’s stock, valued at $942,940.48. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.
RTN traded down $0.12 during midday trading on Tuesday, hitting $231.22. The company’s stock had a trading volume of 31,115 shares, compared to its average volume of 1,152,747. Raytheon has a 52-week low of $162.67 and a 52-week high of $233.48. The firm has a 50-day moving average price of $221.85 and a two-hundred day moving average price of $201.72. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 0.38. The firm has a market cap of $64.42 billion, a P/E ratio of 19.76, a PEG ratio of 1.68 and a beta of 0.88.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $3.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.86 by $0.22. Raytheon had a net margin of 11.47% and a return on equity of 27.23%. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the prior year, the firm posted $2.25 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, equities analysts expect that Raytheon will post 11.88 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Wednesday, January 8th will be given a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 1.63%. The ex-dividend date is Tuesday, January 7th. Raytheon’s dividend payout ratio (DPR) is 35.53%.
Several research firms have issued reports on RTN. UBS Group raised their price target on shares of Raytheon from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. ValuEngine lowered shares of Raytheon from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Barclays set a $215.00 price objective on shares of Raytheon and gave the company a “hold” rating in a research note on Tuesday, October 8th. Wolfe Research set a $221.00 price objective on shares of Raytheon and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Cowen restated a “buy” rating and set a $225.00 target price on shares of Raytheon in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $221.80.
Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
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