Centaurus Financial Inc. raised its stake in shares of Raytheon (NYSE:RTN) by 398.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,958 shares of the aerospace company’s stock after purchasing an additional 6,362 shares during the quarter. Centaurus Financial Inc.’s holdings in Raytheon were worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Squar Milner Financial Services LLC bought a new stake in Raytheon during the second quarter valued at approximately $100,000. Rainier Group Investment Advisory LLC bought a new stake in Raytheon during the first quarter valued at approximately $103,000. Clarus Wealth Advisors bought a new stake in Raytheon during the second quarter valued at approximately $113,000. Fort L.P. bought a new stake in Raytheon during the second quarter valued at approximately $117,000. Finally, Stelac Advisory Services LLC bought a new stake in Raytheon during the first quarter valued at approximately $136,000. Institutional investors and hedge funds own 72.85% of the company’s stock.
Shares of RTN stock traded down $1.46 during trading hours on Friday, hitting $206.75. 1,097,162 shares of the company’s stock were exchanged, compared to its average volume of 1,735,077. The company has a market capitalization of $58.95 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 1.58 and a beta of 0.68. Raytheon has a 12-month low of $179.29 and a 12-month high of $229.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.61.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 26th. The aerospace company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.32 by $0.46. Raytheon had a net margin of 9.24% and a return on equity of 24.01%. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same period last year, the firm posted $1.98 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, research analysts predict that Raytheon will post 9.93 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Wednesday, October 10th will be paid a $0.8675 dividend. This represents a $3.47 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, October 9th. Raytheon’s payout ratio is 45.54%.
In related news, VP Taylor W. Lawrence sold 3,299 shares of Raytheon stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $199.41, for a total value of $657,853.59. Following the transaction, the vice president now directly owns 44,220 shares of the company’s stock, valued at $8,817,910.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.
RTN has been the subject of several research analyst reports. Stifel Nicolaus dropped their target price on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a research report on Wednesday, July 18th. UBS Group initiated coverage on shares of Raytheon in a research report on Wednesday, August 15th. They set a “buy” rating and a $250.00 target price for the company. ValuEngine lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Finally, Morgan Stanley decreased their price target on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating on the stock in a research note on Thursday, July 12th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $228.33.
Raytheon Company develops integrated products, services, and solutions for 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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