Pillar Pacific Capital Management LLC lessened its position in shares of Raytheon Company (NYSE:RTN) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,764 shares of the aerospace company’s stock after selling 1,668 shares during the period. Raytheon makes up about 1.3% of Pillar Pacific Capital Management LLC’s holdings, making the stock its 9th biggest position. Pillar Pacific Capital Management LLC’s holdings in Raytheon were worth $10,217,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Thompson Davis & CO. Inc. increased its holdings in shares of Raytheon by 1,560.3% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 2,092 shares of the aerospace company’s stock worth $390,000 after buying an additional 1,966 shares during the last quarter. Bbva Compass Bancshares Inc. bought a new position in shares of Raytheon in the 3rd quarter worth $201,000. Crossvault Capital Management LLC bought a new position in shares of Raytheon in the 3rd quarter worth $215,000. Tocqueville Asset Management L.P. increased its holdings in shares of Raytheon by 1.9% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 42,901 shares of the aerospace company’s stock worth $8,004,000 after buying an additional 787 shares during the last quarter. Finally, FineMark National Bank & Trust increased its holdings in shares of Raytheon by 1.7% in the 3rd quarter. FineMark National Bank & Trust now owns 46,722 shares of the aerospace company’s stock worth $8,717,000 after buying an additional 761 shares during the last quarter. 74.24% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Frank R. Jimenez sold 650 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $187.27, for a total value of $121,725.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Frank R. Jimenez sold 500 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total transaction of $90,970.00. Following the completion of the transaction, the vice president now owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,941 shares of company stock valued at $902,999. 0.19% of the stock is owned by company insiders.
Shares of Raytheon Company (NYSE:RTN) opened at $183.94 on Wednesday. Raytheon Company has a 12-month low of $137.70 and a 12-month high of $190.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. The company has a market cap of $53,324.99, a PE ratio of 24.40, a PEG ratio of 2.51 and a beta of 0.57.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.07. The firm had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $1.79 EPS. research analysts predict that Raytheon Company will post 7.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Thursday, October 12th were paid a $0.7975 dividend. The ex-dividend date of this dividend was Wednesday, October 11th. This represents a $3.19 annualized dividend and a dividend yield of 1.73%. Raytheon’s payout ratio is 42.88%.
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Several equities analysts recently commented on RTN shares. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 target price on the stock in a report on Thursday, September 14th. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Royal Bank Of Canada set a $193.00 target price on shares of Raytheon and gave the company a “buy” rating in a report on Monday, August 28th. Citigroup Inc. reaffirmed a “buy” rating and set a $215.00 target price (up previously from $192.00) on shares of Raytheon in a report on Monday, October 9th. Finally, Bank of America Corporation set a $220.00 target price on shares of Raytheon and gave the company a “buy” rating in a report on Friday, October 27th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Raytheon has an average rating of “Buy” and an average price target of $199.24.
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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