Clarus Wealth Advisors lifted its position in shares of Raytheon (NYSE:RTN) by 262.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,901 shares of the aerospace company’s stock after purchasing an additional 1,376 shares during the period. Clarus Wealth Advisors’ holdings in Raytheon were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northside Capital Management LLC bought a new position in shares of Raytheon during the third quarter worth approximately $280,000. Abner Herrman & Brock LLC increased its stake in shares of Raytheon by 4.4% during the third quarter. Abner Herrman & Brock LLC now owns 99,102 shares of the aerospace company’s stock worth $19,443,000 after purchasing an additional 4,145 shares during the period. Murphy Capital Management Inc. increased its stake in shares of Raytheon by 1.5% during the third quarter. Murphy Capital Management Inc. now owns 6,589 shares of the aerospace company’s stock worth $1,292,000 after purchasing an additional 100 shares during the period. Domani Wealth LLC increased its stake in shares of Raytheon by 6.0% during the third quarter. Domani Wealth LLC now owns 1,378 shares of the aerospace company’s stock worth $270,000 after purchasing an additional 78 shares during the period. Finally, Rockland Trust Co. increased its stake in shares of Raytheon by 4.1% during the third quarter. Rockland Trust Co. now owns 58,865 shares of the aerospace company’s stock worth $11,404,000 after purchasing an additional 2,297 shares during the period. Institutional investors own 72.96% of the company’s stock.
In other news, VP Frank R. Jimenez sold 1,054 shares of Raytheon stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total value of $189,720.00. Following the transaction, the vice president now owns 25,863 shares in the company, valued at approximately $4,655,340. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Randa G. Newsome sold 10,000 shares of Raytheon stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total value of $1,850,100.00. Following the completion of the transaction, the vice president now owns 20,396 shares in the company, valued at approximately $3,773,463.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,469 shares of company stock worth $3,114,720. Corporate insiders own 0.18% of the company’s stock.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, topping the Zacks’ consensus estimate of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The firm had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the company earned $2.45 EPS. The company’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that Raytheon will post 11.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Wednesday, October 9th will be paid a $0.9425 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $3.77 annualized dividend and a dividend yield of 1.89%. Raytheon’s payout ratio is 35.53%.
RTN has been the topic of a number of recent research reports. Sanford C. Bernstein lowered Raytheon from an “outperform” rating to a “market perform” rating and set a $212.00 target price on the stock. in a research note on Tuesday, September 17th. Buckingham Research lowered Raytheon from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $265.00 to $195.00 in a research note on Monday, June 24th. ValuEngine upgraded Raytheon from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group increased their target price on Raytheon from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. Finally, Credit Suisse Group upgraded Raytheon from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $188.00 to $230.00 in a research note on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $213.00.
Raytheon Company Profile
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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