Trust Co. of Vermont trimmed its position in Raytheon (NYSE:RTN) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,853 shares of the aerospace company’s stock after selling 65 shares during the quarter. Trust Co. of Vermont’s holdings in Raytheon were worth $1,713,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in RTN. Geode Capital Management LLC raised its stake in shares of Raytheon by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 3,729,683 shares of the aerospace company’s stock valued at $570,952,000 after purchasing an additional 186,460 shares during the period. USS Investment Management Ltd raised its stake in shares of Raytheon by 5.7% during the 1st quarter. USS Investment Management Ltd now owns 1,527,946 shares of the aerospace company’s stock valued at $278,193,000 after purchasing an additional 82,955 shares during the period. Legacy Advisors LLC bought a new stake in shares of Raytheon during the 1st quarter valued at $76,000. Triangle Securities Wealth Management raised its stake in shares of Raytheon by 23.2% during the 1st quarter. Triangle Securities Wealth Management now owns 1,968 shares of the aerospace company’s stock valued at $358,000 after purchasing an additional 370 shares during the period. Finally, Rockland Trust Co. raised its stake in shares of Raytheon by 73.7% during the 1st quarter. Rockland Trust Co. now owns 2,823 shares of the aerospace company’s stock valued at $514,000 after purchasing an additional 1,198 shares during the period. Institutional investors and hedge funds own 74.90% of the company’s stock.
Several equities analysts recently commented on the company. ValuEngine cut Raytheon from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Bank of America restated a “buy” rating and set a $265.00 target price (up from $224.00) on shares of Raytheon in a research report on Friday, July 26th. Vertical Research cut Raytheon from a “buy” rating to a “hold” rating and reduced their target price for the stock from $216.00 to $203.00 in a research report on Tuesday, June 11th. Finally, Jefferies Financial Group boosted their target price on Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Raytheon currently has an average rating of “Buy” and a consensus target price of $209.80.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.31. The business 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%. Raytheon’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.45 EPS. As a group, research analysts anticipate that Raytheon will post 11.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, July 9th. Raytheon’s payout ratio is 35.53%.
In other Raytheon news, VP Wesley D. Kremer sold 8,186 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $185.00, for a total transaction of $1,514,410.00. Following the completion of the transaction, the vice president now owns 29,175 shares of the company’s stock, valued at approximately $5,397,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Randa G. Newsome sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly 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. Corporate insiders own 0.18% of the company’s stock.
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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