GYL Financial Synergies LLC purchased a new stake in shares of Raytheon (NYSE:RTN) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,191 shares of the aerospace company’s stock, valued at approximately $217,000.
Several other institutional investors also recently bought and sold shares of the company. HNP Capital LLC grew its stake in Raytheon by 0.6% during the first quarter. HNP Capital LLC now owns 9,030 shares of the aerospace company’s stock worth $1,644,000 after buying an additional 57 shares during the last quarter. Weatherly Asset Management L. P. grew its stake in shares of Raytheon by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 14,960 shares of the aerospace company’s stock valued at $2,724,000 after purchasing an additional 63 shares during the last quarter. Lodestar Investment Counsel LLC IL grew its stake in shares of Raytheon by 3.1% during the first quarter. Lodestar Investment Counsel LLC IL now owns 2,148 shares of the aerospace company’s stock valued at $391,000 after purchasing an additional 65 shares during the last quarter. CX Institutional grew its stake in shares of Raytheon by 23.4% during the first quarter. CX Institutional now owns 348 shares of the aerospace company’s stock valued at $63,000 after purchasing an additional 66 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its stake in shares of Raytheon by 16.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 457 shares of the aerospace company’s stock valued at $83,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 74.31% of the company’s stock.
In related news, VP Wesley D. Kremer sold 8,186 shares of the business’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 directly owns 29,175 shares in the company, valued at approximately $5,397,375. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.45 by $0.32. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.58 billion. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 EPS. On average, sell-side analysts anticipate that Raytheon will post 11.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.9425 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.10%. Raytheon’s dividend payout ratio (DPR) is presently 35.53%.
Several analysts have recently commented on RTN shares. Buckingham Research cut shares of Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $93.00 to $81.00 in a research note on Monday, June 24th. Wolfe Research set a $205.00 price objective on shares of Raytheon and gave the company a “buy” rating in a report on Friday, April 26th. ValuEngine lowered shares of WideOpenWest from a “hold” rating to a “sell” rating in a report on Friday, June 28th. UBS Group lowered shares of Guangshen Railway Co. Ltd ADR Class H from a “buy” rating to a “neutral” rating in a report on Wednesday, April 3rd. Finally, Jefferies Financial Group raised their target price on shares of KeyCorp from $20.00 to $18.50 and gave the company a “buy” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. Raytheon currently has a consensus rating of “Buy” and an average target price of $207.47.
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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