Valmark Advisers Inc. reduced its stake in shares of Raytheon (NYSE:RTN) by 14.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,368 shares of the aerospace company’s stock after selling 395 shares during the period. Valmark Advisers Inc.’s holdings in Raytheon were worth $457,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Squar Milner Financial Services LLC acquired a new stake in Raytheon during the 2nd quarter worth approximately $100,000. Rainier Group Investment Advisory LLC acquired a new stake in Raytheon during the 1st quarter worth approximately $103,000. Lipe & Dalton acquired a new stake in Raytheon during the 1st quarter worth approximately $108,000. Bray Capital Advisors acquired a new stake in Raytheon during the 1st quarter worth approximately $113,000. Finally, Clarus Wealth Advisors acquired a new stake in Raytheon during the 2nd quarter worth approximately $113,000. Hedge funds and other institutional investors own 72.88% of the company’s stock.
Shares of NYSE:RTN traded up $2.54 during midday trading on Thursday, hitting $197.47. The stock had a trading volume of 18,925 shares, compared to its average volume of 1,831,229. Raytheon has a 12 month low of $175.26 and a 12 month high of $229.75. The company has a current ratio of 1.61, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $56.01 billion, a PE ratio of 25.95, a P/E/G ratio of 1.50 and a beta of 0.64.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 2nd. Investors of record on Wednesday, July 11th were paid a $0.8675 dividend. The ex-dividend date of this dividend was Tuesday, July 10th. This represents a $3.47 annualized dividend and a dividend yield of 1.76%. Raytheon’s dividend payout ratio is presently 45.54%.
In other Raytheon news, CAO Michael J. Wood sold 621 shares of Raytheon stock in a transaction on Monday, June 4th. The shares were sold at an average price of $212.13, for a total transaction of $131,732.73. Following the completion of the transaction, the chief accounting officer now directly owns 14,462 shares of the company’s stock, valued at $3,067,824.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Vernon E. Clark sold 1,000 shares of Raytheon stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $212.52, for a total transaction of $212,520.00. Following the transaction, the director now directly owns 6,588 shares of the company’s stock, valued at $1,400,081.76. The disclosure for this sale can be found here. Insiders sold 2,862 shares of company stock valued at $607,518 over the last three months. 0.19% of the stock is owned by company insiders.
Several brokerages have recently weighed in on RTN. UBS Group began coverage on shares of Raytheon in a research note on Wednesday. They set a “buy” rating for the company. Credit Suisse Group reaffirmed a “neutral” rating and set a $219.00 price target (down from $250.00) on shares of Raytheon in a research note on Tuesday, May 22nd. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Stifel Nicolaus decreased their price target on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Finally, Wolfe Research raised shares of Raytheon from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 8th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Raytheon presently has an average rating of “Buy” and a consensus target price of $220.59.
Raytheon Company develops integrated products, services, and solutions for 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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