Raytheon (NYSE:RTN) Shares Bought by Hamilton Point Investment Advisors LLC
Hamilton Point Investment Advisors LLC grew its position in shares of Raytheon (NYSE:RTN) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,481 shares of the aerospace company’s stock after acquiring an additional 378 shares during the quarter. Raytheon comprises 2.4% of Hamilton Point Investment Advisors LLC’s portfolio, making the stock its 13th biggest position. Hamilton Point Investment Advisors LLC’s holdings in Raytheon were worth $5,648,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in RTN. Fishman Jay A Ltd. MI boosted its stake in Raytheon by 0.5% in the fourth quarter. Fishman Jay A Ltd. MI now owns 94,165 shares of the aerospace company’s stock valued at $14,440,000 after acquiring an additional 475 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Raytheon by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 3,729,683 shares of the aerospace company’s stock valued at $570,952,000 after buying an additional 186,460 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Raytheon by 13.5% during the fourth quarter. Teacher Retirement System of Texas now owns 98,092 shares of the aerospace company’s stock valued at $15,042,000 after buying an additional 11,704 shares during the last quarter. Actinver Wealth Management Inc. purchased a new stake in shares of Raytheon during the fourth quarter valued at about $466,000. Finally, Belpointe Asset Management LLC lifted its position in shares of Raytheon by 12.7% during the fourth quarter. Belpointe Asset Management LLC now owns 3,567 shares of the aerospace company’s stock valued at $547,000 after buying an additional 402 shares during the last quarter. Institutional investors own 74.60% of the company’s stock.
Several analysts have commented on RTN shares. UBS Group lowered shares of Guangshen Railway Co. Ltd ADR Class H from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 3rd. Stifel Nicolaus increased their price target on shares of Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Bank of America lowered shares of Citigroup to a “hold” rating in a research report on Friday. Jefferies Financial Group increased their price target 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. Finally, Vertical Research lowered shares of Raytheon from a “buy” rating to a “hold” rating and decreased their price target for the company from $216.00 to $203.00 in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $209.80.
Shares of RTN traded down $0.91 during mid-day trading on Monday, hitting $188.88. 4,696 shares of the company traded hands, compared to its average volume of 1,993,024. Raytheon has a 1-year low of $144.27 and a 1-year high of $210.89. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.35. The company has a market capitalization of $52.86 billion, a P/E ratio of 17.81, a PEG ratio of 1.45 and a beta of 0.87. The firm’s 50 day simple moving average is $178.64.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.61 by $0.31. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The company had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the company earned $2.45 EPS. Raytheon’s quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts predict that Raytheon will post 11.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.9425 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $3.77 annualized dividend and a yield of 2.00%. Raytheon’s dividend payout ratio (DPR) is presently 35.53%.
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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