LLBH Private Wealth Management LLC Purchases New Shares in Raytheon (NYSE:RTN)

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LLBH Private Wealth Management LLC acquired a new stake in shares of Raytheon (NYSE:RTN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 24,777 shares of the aerospace company’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Alpha Omega Wealth Management LLC purchased a new position in Raytheon during the first quarter valued at $25,000. Farmers National Bank purchased a new position in Raytheon during the first quarter valued at $27,000. Semmax Financial Advisors Inc. lifted its holdings in Raytheon by 148.6% during the first quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Destination Wealth Management lifted its holdings in Raytheon by 670.8% during the first quarter. Destination Wealth Management now owns 185 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 161 shares in the last quarter. Finally, Weaver Consulting Group purchased a new position in Raytheon during the first quarter valued at $36,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:RTN traded down $4.63 during midday trading on Tuesday, hitting $177.08. The company’s stock had a trading volume of 36,374 shares, compared to its average volume of 1,607,102. The business’s 50 day simple moving average is $181.64 and its 200 day simple moving average is $180.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 1.46. The company has a market cap of $50.28 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 1.44 and a beta of 0.86. Raytheon has a 12-month low of $144.27 and a 12-month high of $210.89.

Raytheon (NYSE:RTN) last posted 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. The firm had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.02 billion. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $2.45 earnings per share. On average, sell-side analysts predict that Raytheon will post 11.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Tuesday, July 9th. Raytheon’s dividend payout ratio is currently 35.53%.

In other Raytheon news, VP Randa G. Newsome sold 10,000 shares of Raytheon stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the transaction, the vice president now directly owns 20,396 shares of the company’s stock, valued at $3,773,463.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Wesley D. Kremer sold 8,186 shares of Raytheon stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $185.00, for a total transaction of $1,514,410.00. Following the transaction, the vice president now directly owns 29,175 shares in the company, valued at $5,397,375. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

RTN has been the topic of several recent analyst reports. ValuEngine downgraded shares of Raytheon from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Buckingham Research downgraded shares of Raytheon from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $265.00 to $195.00 in a report on Monday, June 24th. Bank of America reaffirmed a “buy” rating and set a $265.00 price objective (up from $224.00) on shares of Raytheon in a report on Friday, July 26th. Finally, Jefferies Financial Group increased their price objective on shares of Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $209.80.

About Raytheon

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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