Resources Management Corp CT ADV Makes New Investment in Raytheon (NYSE:RTN)

Resources Management Corp CT ADV bought a new position in Raytheon (NYSE:RTN) in the third quarter, HoldingsChannel reports. The fund bought 400 shares of the aerospace company’s stock, valued at approximately $78,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Liberty Wealth Management LLC grew its position in Raytheon by 312.5% in the 3rd quarter. Liberty Wealth Management LLC now owns 132 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 100 shares during the period. Bridger Capital Management LLC purchased a new stake in Raytheon during the 3rd quarter valued at $26,000. Garrett Wealth Advisory Group LLC bought a new position in shares of Raytheon during the 3rd quarter valued at $32,000. Sound Income Strategies LLC lifted its holdings in shares of Raytheon by 95.3% during the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock valued at $33,000 after buying an additional 81 shares during the period. Finally, First Financial Corp IN purchased a new position in shares of Raytheon in the 3rd quarter worth $33,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Shares of Raytheon stock opened at $217.21 on Friday. Raytheon has a one year low of $144.27 and a one year high of $220.03. The stock’s fifty day moving average is $213.82 and its 200 day moving average is $191.89. The stock has a market cap of $60.49 billion, a P/E ratio of 20.47, a P/E/G ratio of 1.72 and a beta of 0.88. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.44 and a current ratio of 1.54.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.86 by $0.22. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the previous year, the business earned $2.25 earnings per share. Raytheon’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts predict that Raytheon will post 11.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Wednesday, January 8th will be paid a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, January 7th. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.

In related news, VP Wesley D. Kremer sold 2,915 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $583,000.00. Following the completion of the sale, the vice president now directly owns 26,260 shares of the company’s stock, valued at approximately $5,252,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 2,500 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $196.76, for a total transaction of $491,900.00. Following the completion of the sale, the vice president now directly owns 25,504 shares of the company’s stock, valued at $5,018,167.04. The disclosure for this sale can be found here. Insiders sold 10,215 shares of company stock worth $2,038,770 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Several brokerages recently commented on RTN. Wolfe Research set a $221.00 price objective on Raytheon and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays set a $215.00 target price on Raytheon and gave the company a “hold” rating in a report on Tuesday, October 8th. ValuEngine downgraded Raytheon from a “hold” rating to a “sell” rating in a report on Tuesday. Cowen reissued a “buy” rating and issued a $225.00 target price on shares of Raytheon in a research report on Thursday, October 24th. Finally, UBS Group set a $230.00 price target on Raytheon and gave the company a “hold” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Raytheon has a consensus rating of “Buy” and a consensus price target of $217.76.

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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