ING Groep NV boosted its position in shares of Raytheon Co. (NYSE:RTN) by 52.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,476 shares of the company’s stock after buying an additional 3,608 shares during the period. ING Groep NV’s holdings in Raytheon were worth $1,424,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of RTN. Monetary Management Group Inc. raised its stake in Raytheon by 840.0% in the first quarter. Monetary Management Group Inc. now owns 940 shares of the company’s stock valued at $115,000 after buying an additional 840 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in Raytheon by 11.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,135 shares of the company’s stock valued at $154,000 after buying an additional 117 shares in the last quarter. Foundry Partners LLC bought a new stake in Raytheon during the second quarter valued at approximately $201,000. Dowling & Yahnke LLC bought a new stake in Raytheon during the second quarter valued at approximately $203,000. Finally, Barry Investment Advisors LLC bought a new stake in Raytheon during the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.
Raytheon Co. (NYSE:RTN) traded up 0.82% during trading on Thursday, hitting $138.25. The stock had a trading volume of 1,616,056 shares. Raytheon Co. has a one year low of $109.10 and a one year high of $143.39. The firm has a market cap of $40.80 billion, a price-to-earnings ratio of 19.32 and a beta of 0.64. The stock’s 50-day moving average is $139.10 and its 200 day moving average is $134.09.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 28th. The company reported $2.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.64. Raytheon had a return on equity of 19.26% and a net margin of 9.02%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities analysts anticipate that Raytheon Co. will post $7.41 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Wednesday, October 5th will be paid a $0.7325 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $2.93 dividend on an annualized basis and a dividend yield of 2.12%. Raytheon’s dividend payout ratio (DPR) is presently 40.86%.
Several research firms have commented on RTN. Robert W. Baird began coverage on Raytheon in a research report on Thursday. They issued an “outperform” rating and a $170.00 price objective on the stock. Argus restated a “buy” rating and issued a $161.00 price objective on shares of Raytheon in a research report on Wednesday, August 3rd. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. JPMorgan Chase & Co. set a $145.00 price objective on Raytheon and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Raytheon in a research report on Thursday, June 9th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Raytheon currently has an average rating of “Buy” and an average target price of $174.67.
In related news, Director Vernon E. Clark sold 2,540 shares of Raytheon stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $141.01, for a total value of $358,165.40. Following the sale, the director now directly owns 7,246 shares in the company, valued at $1,021,758.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.
Raytheon Company Profile
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.