Papp L Roy & Associates Takes $203,000 Position in Raytheon (NYSE:RTN)

Papp L Roy & Associates acquired a new stake in shares of Raytheon (NYSE:RTN) during the third quarter, Holdings Channel.com reports. The fund acquired 1,034 shares of the aerospace company’s stock, valued at approximately $203,000.

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Several other institutional investors and hedge funds have also recently bought and sold shares of RTN. Buckingham Capital Management Inc. purchased a new stake in shares of Raytheon during the first quarter valued at approximately $205,000. First Financial Bank Trust Division raised its stake in shares of Raytheon by 5.3% during the second 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 period. LVM Capital Management Ltd. MI raised its stake in shares of Raytheon by 8.7% during the second 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 period. Private Asset Management Inc. raised its stake in shares of Raytheon by 0.3% during the second 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 period. Finally, South Texas Money Management Ltd. raised its stake in shares of Raytheon by 2.1% during the second quarter. South Texas Money Management Ltd. now owns 239,763 shares of the aerospace company’s stock valued at $41,690,000 after purchasing an additional 5,017 shares during the period. Institutional investors own 72.63% of the company’s stock.

RTN has been the topic of a number of analyst reports. Credit Suisse Group lifted their price objective on shares of Raytheon from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Sanford C. Bernstein lifted their price objective on shares of Raytheon from $212.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, October 25th. UBS Group set a $230.00 price objective on shares of Raytheon and gave the company a “hold” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. set a $240.00 price target on shares of Raytheon and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Bank of America reissued a “buy” rating and set a $265.00 price target (up previously from $224.00) on shares of Raytheon in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $217.94.

Shares of RTN stock traded up $0.84 during mid-day trading on Friday, reaching $215.84. 1,149,100 shares of the company were exchanged, compared to its average volume of 1,897,773. Raytheon has a fifty-two week low of $144.27 and a fifty-two week high of $218.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.44 and a current ratio of 1.54. The company has a market capitalization of $59.34 billion, a P/E ratio of 20.34, a P/E/G ratio of 1.69 and a beta of 0.89. The business’s 50 day simple moving average is $202.76 and its 200 day simple moving average is $186.79.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter last year, the company earned $2.25 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts forecast that Raytheon will post 11.84 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Wednesday, October 9th were issued a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Tuesday, October 8th. Raytheon’s dividend payout ratio is presently 35.53%.

In other Raytheon news, VP Randa G. Newsome sold 4,300 shares of Raytheon stock in a transaction on Monday, October 14th. The shares were sold at an average price of $199.10, for a total value of $856,130.00. Following the completion of the transaction, the vice president now owns 18,281 shares of the company’s stock, valued at $3,639,747.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Wesley D. Kremer sold 2,915 shares of Raytheon stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $583,000.00. Following the completion of the transaction, the vice president now directly owns 26,260 shares of the company’s stock, valued at approximately $5,252,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,769 shares of company stock valued at $2,120,750. 0.18% of the stock is currently owned by corporate insiders.

Raytheon 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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