Polaris Greystone Financial Group LLC grew its stake in shares of Raytheon (NYSE:RTN) by 575.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,282 shares of the aerospace company’s stock after purchasing an additional 11,317 shares during the period. Polaris Greystone Financial Group LLC’s holdings in Raytheon were worth $2,272,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alpha Omega Wealth Management LLC acquired a new position in shares of Raytheon during the first quarter valued at about $25,000. WP Advisors LLC acquired a new position in shares of Raytheon during the first quarter valued at about $26,000. Farmers National Bank acquired a new position in shares of Raytheon during the first quarter valued at about $27,000. Semmax Financial Advisors Inc. raised its holdings in shares of Raytheon by 148.6% during the first quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Finally, Destination Wealth Management raised its holdings in shares of Raytheon by 670.8% during the first quarter. Destination Wealth Management now owns 185 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 161 shares during the period. Hedge funds and other institutional investors own 74.90% of the company’s stock.
Shares of RTN traded up $3.45 on Tuesday, reaching $183.60. The company’s stock had a trading volume of 725,538 shares, compared to its average volume of 1,950,007. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. Raytheon has a twelve month low of $144.27 and a twelve month high of $210.89. The firm has a market cap of $50.99 billion, a PE ratio of 17.30, a PEG ratio of 1.44 and a beta of 0.86. The company has a fifty day moving average of $179.24.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.9425 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $3.77 annualized dividend and a yield of 2.05%. Raytheon’s dividend payout ratio (DPR) is 35.53%.
Several equities analysts have recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a report on Monday, June 10th. Buckingham Research lowered shares of 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 report on Monday, June 24th. Bank of America restated a “buy” rating and issued a $265.00 target price (up previously from $224.00) on shares of Raytheon in a report on Friday, July 26th. ValuEngine lowered shares of Raytheon from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Finally, Wolfe Research set a $205.00 target price on shares of Raytheon and gave the stock a “buy” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $209.80.
In other Raytheon news, VP Wesley D. Kremer sold 8,186 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $185.00, for a total value of $1,514,410.00. Following the completion of the sale, the vice president now owns 29,175 shares in the company, valued at approximately $5,397,375. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Randa G. Newsome sold 10,000 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the completion of the sale, the vice president now owns 20,396 shares of the company’s stock, valued at approximately $3,773,463.96. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.
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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