First National Bank of Mount Dora Trust Investment Services Reduces Position in Raytheon (NYSE:RTN)

First National Bank of Mount Dora Trust Investment Services cut its holdings in shares of Raytheon (NYSE:RTN) by 9.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,143 shares of the aerospace company’s stock after selling 1,851 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in Raytheon were worth $3,363,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Diversified Trust Co lifted its holdings in Raytheon by 4.7% in the third quarter. Diversified Trust Co now owns 12,433 shares of the aerospace company’s stock valued at $2,439,000 after acquiring an additional 554 shares during the period. Bright Rock Capital Management LLC lifted its holdings in Raytheon by 12.7% in the third quarter. Bright Rock Capital Management LLC now owns 31,000 shares of the aerospace company’s stock valued at $6,006,000 after acquiring an additional 3,500 shares during the period. Lederer & Associates Investment Counsel CA lifted its holdings in Raytheon by 1.7% in the third quarter. Lederer & Associates Investment Counsel CA now owns 10,350 shares of the aerospace company’s stock valued at $2,031,000 after acquiring an additional 170 shares during the period. First Financial Bank Trust Division lifted its holdings in Raytheon by 20.8% in the third quarter. First Financial Bank Trust Division now owns 25,433 shares of the aerospace company’s stock valued at $4,990,000 after acquiring an additional 4,382 shares during the period. Finally, LVM Capital Management Ltd. MI lifted its holdings in Raytheon by 8.1% in the third quarter. LVM Capital Management Ltd. MI now owns 56,615 shares of the aerospace company’s stock valued at $11,107,000 after acquiring an additional 4,245 shares during the period. 72.96% of the stock is currently owned by institutional investors.

Shares of NYSE RTN traded up $1.46 during trading on Wednesday, hitting $193.68. The company had a trading volume of 145,043 shares, compared to its average volume of 1,919,924. The stock has a 50 day simple moving average of $190.96 and a 200 day simple moving average of $182.74. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 1.46. Raytheon has a 12 month low of $144.27 and a 12 month high of $206.81. The firm has a market capitalization of $54.15 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 1.55 and a beta of 0.87.

Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The firm had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the company earned $2.45 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, analysts predict that Raytheon will post 11.73 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Wednesday, October 9th will be paid a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Tuesday, October 8th. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.

In other news, VP Frank R. Jimenez sold 1,054 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total value of $189,720.00. Following the transaction, the vice president now owns 25,863 shares of the company’s stock, valued at $4,655,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Randa G. Newsome sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total value of $1,850,100.00. Following the completion of the transaction, the vice president now directly owns 20,396 shares in the company, valued at approximately $3,773,463.96. The disclosure for this sale can be found here. Insiders sold 16,469 shares of company stock worth $3,114,720 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

A number of research analysts have weighed in on RTN shares. Sanford C. Bernstein downgraded Raytheon from an “outperform” rating to a “market perform” rating and set a $212.00 target price on the stock. in a report on Tuesday, September 17th. Bank of America reissued 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. Vertical Research downgraded Raytheon from a “buy” rating to a “hold” rating and lowered their target price for the company from $216.00 to $203.00 in a report on Tuesday, June 11th. Credit Suisse Group raised Raytheon from a “neutral” rating to an “outperform” rating and increased their target price for the company from $188.00 to $230.00 in a report on Thursday, October 3rd. Finally, UBS Group increased their target price on Raytheon from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, September 13th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $213.00.

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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