YorkBridge Wealth Partners LLC Raises Stake in Raytheon (NYSE:RTN)

YorkBridge Wealth Partners LLC raised its position in Raytheon (NYSE:RTN) by 1.8% in the third quarter, Holdings Channel reports. The fund owned 3,161 shares of the aerospace company’s stock after buying an additional 55 shares during the period. YorkBridge Wealth Partners LLC’s holdings in Raytheon were worth $620,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Buckingham Capital Management Inc. acquired a new stake in shares of Raytheon in the first quarter valued at approximately $205,000. Amundi Pioneer Asset Management Inc. increased its stake in shares of Raytheon by 7.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,165,178 shares of the aerospace company’s stock valued at $758,397,000 after purchasing an additional 284,688 shares during the last quarter. First Financial Bank Trust Division increased its stake in shares of Raytheon by 5.3% in the 2nd quarter. First Financial Bank Trust Division now owns 21,051 shares of the aerospace company’s stock valued at $3,660,000 after purchasing an additional 1,066 shares during the last quarter. LVM Capital Management Ltd. MI increased its stake in shares of Raytheon by 8.7% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 52,370 shares of the aerospace company’s stock valued at $9,106,000 after purchasing an additional 4,174 shares during the last quarter. Finally, Private Asset Management Inc. increased its stake in shares of Raytheon by 0.3% in the 2nd quarter. Private Asset Management Inc. now owns 36,890 shares of the aerospace company’s stock valued at $6,414,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 72.80% of the company’s stock.

In related news, VP Wesley D. Kremer sold 2,915 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $583,000.00. Following the transaction, the vice president now owns 26,260 shares in the company, valued at $5,252,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Frank R. Jimenez sold 1,054 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total value of $189,720.00. Following the completion of the transaction, the vice president now owns 25,863 shares in the company, valued at approximately $4,655,340. The disclosure for this sale can be found here. Insiders have sold a total of 20,769 shares of company stock valued at $3,970,850 over the last three months. Corporate insiders own 0.18% of the company’s stock.

RTN traded up $2.43 during midday trading on Monday, reaching $202.18. 355,544 shares of the company were exchanged, compared to its average volume of 1,817,055. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 1.46. The company’s fifty day moving average price is $194.58 and its 200 day moving average price is $183.68. The company has a market cap of $55.52 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 1.59 and a beta of 0.87. Raytheon has a one year low of $144.27 and a one year high of $205.28.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.31. The firm had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.02 billion. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.45 EPS. As a group, sell-side analysts anticipate that Raytheon will post 11.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Tuesday, October 8th. Raytheon’s dividend payout ratio is currently 35.53%.

Several equities research analysts recently weighed in on the company. UBS Group raised their price objective on Raytheon from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, September 13th. Barclays set a $215.00 price objective on Raytheon and gave the company a “hold” rating in a research note on Tuesday, October 8th. Buckingham Research downgraded Raytheon from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $265.00 to $195.00 in a research note on Monday, June 24th. ValuEngine downgraded Raytheon from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, Credit Suisse Group raised Raytheon from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $188.00 to $230.00 in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $214.11.

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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