23,571 Shares in Raytheon (RTN) Acquired by Trexquant Investment LP
Trexquant Investment LP bought a new stake in Raytheon (NYSE:RTN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,571 shares of the aerospace company’s stock, valued at approximately $4,553,000.
A number of other large investors have also recently modified their holdings of RTN. Rainier Group Investment Advisory LLC acquired a new stake in Raytheon during the first quarter worth approximately $103,000. Lipe & Dalton acquired a new stake in Raytheon during the first quarter worth approximately $108,000. Squar Milner Financial Services LLC acquired a new stake in Raytheon during the second quarter worth approximately $100,000. Bray Capital Advisors acquired a new stake in Raytheon during the first quarter worth approximately $113,000. Finally, Clarus Wealth Advisors acquired a new stake in Raytheon during the second quarter worth approximately $113,000. 72.88% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Taylor W. Lawrence sold 1,241 shares of Raytheon stock in a transaction on Monday, June 4th. The shares were sold at an average price of $212.14, for a total value of $263,265.74. Following the transaction, the vice president now directly owns 46,999 shares in the company, valued at approximately $9,970,367.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vernon E. Clark sold 1,000 shares of Raytheon stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $212.52, for a total transaction of $212,520.00. Following the completion of the transaction, the director now owns 6,588 shares in the company, valued at $1,400,081.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,862 shares of company stock worth $607,518. 0.19% of the stock is currently owned by insiders.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 26th. The aerospace company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $6.51 billion. During the same period last year, the firm posted $1.98 EPS. Raytheon’s quarterly revenue was up 5.5% on a year-over-year basis. analysts anticipate that Raytheon will post 9.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 2nd. Investors of record on Wednesday, July 11th were given a $0.8675 dividend. The ex-dividend date was Tuesday, July 10th. This represents a $3.47 dividend on an annualized basis and a yield of 1.75%. Raytheon’s dividend payout ratio (DPR) is 45.54%.
A number of research firms have weighed in on RTN. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a report on Wednesday, July 18th. Wolfe Research upgraded shares of Raytheon from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 8th. Credit Suisse Group restated a “neutral” rating and set a $219.00 target price (down from $250.00) on shares of Raytheon in a research report on Tuesday, May 22nd. Morgan Stanley lowered their target price on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating on the stock in a research report on Thursday, July 12th. Finally, Stifel Nicolaus lowered their target price on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $222.23.
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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