Gofen & Glossberg LLC IL Grows Stake in Raytheon (NYSE:RTN)

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Gofen & Glossberg LLC IL raised its stake in Raytheon (NYSE:RTN) by 13.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,645 shares of the aerospace company’s stock after acquiring an additional 195 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Raytheon were worth $323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTN. Wright Investors Service Inc. lifted its stake in shares of Raytheon by 0.7% during the 2nd quarter. Wright Investors Service Inc. now owns 8,826 shares of the aerospace company’s stock valued at $1,534,000 after buying an additional 57 shares in the last quarter. Centric Wealth Management lifted its stake in shares of Raytheon by 3.2% during the 3rd quarter. Centric Wealth Management now owns 1,834 shares of the aerospace company’s stock valued at $351,000 after buying an additional 57 shares in the last quarter. Altfest L J & Co. Inc. lifted its stake in shares of Raytheon by 0.8% during the 2nd quarter. Altfest L J & Co. Inc. now owns 7,933 shares of the aerospace company’s stock valued at $1,379,000 after buying an additional 64 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Raytheon by 3.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,991 shares of the aerospace company’s stock valued at $346,000 after buying an additional 64 shares in the last quarter. Finally, Brookmont Capital Management lifted its stake in shares of Raytheon by 0.3% during the 2nd quarter. Brookmont Capital Management now owns 18,997 shares of the aerospace company’s stock valued at $3,303,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 72.96% of the company’s stock.

A number of analysts recently commented on RTN shares. ValuEngine cut shares of Raytheon from a “hold” rating to a “sell” rating in a research note on Friday. Buckingham Research cut shares of Raytheon from a “buy” rating to a “neutral” rating and dropped their price target for the company from $265.00 to $195.00 in a research note on Monday, June 24th. UBS Group upped their target price on shares of Raytheon from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Barclays set a $215.00 target price on shares of Raytheon and gave the stock a “hold” rating in a report on Tuesday. Finally, Bank of America reaffirmed a “buy” rating and set a $265.00 target price (up previously from $224.00) on shares of Raytheon in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $214.11.

In other news, VP Randa G. Newsome sold 10,000 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total value of $1,850,100.00. Following the transaction, the vice president now owns 20,396 shares of the company’s stock, valued at approximately $3,773,463.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Frank R. Jimenez sold 2,500 shares of the stock in a transaction 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 transaction, the vice president now directly owns 25,504 shares in the company, valued at approximately $5,018,167.04. The disclosure for this sale can be found here. Insiders sold a total of 16,469 shares of company stock worth $3,114,720 in the last three months. Insiders own 0.18% of the company’s stock.

Raytheon stock opened at $198.72 on Friday. The firm’s 50 day simple moving average is $191.92 and its 200 day simple moving average is $183.01. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $55.73 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 1.53 and a beta of 0.87. Raytheon has a 1-year low of $144.27 and a 1-year high of $205.28.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.61 by $0.31. The business had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.02 billion. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. Raytheon’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.45 EPS. Research analysts forecast that Raytheon will post 11.73 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Wednesday, October 9th will be issued a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Tuesday, October 8th. Raytheon’s payout ratio is 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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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