Rehmann Capital Advisory Group trimmed its holdings in shares of Raytheon (NYSE:RTN) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,561 shares of the aerospace company’s stock after selling 582 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Raytheon were worth $481,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Raytheon by 6.2% during the fourth quarter. BlackRock Inc. now owns 21,240,939 shares of the aerospace company’s stock worth $3,990,111,000 after purchasing an additional 1,237,648 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Raytheon by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 4,182,034 shares of the aerospace company’s stock worth $785,594,000 after purchasing an additional 99,090 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Raytheon by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 3,486,232 shares of the aerospace company’s stock worth $653,684,000 after purchasing an additional 110,397 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Raytheon by 6.2% during the fourth quarter. Franklin Resources Inc. now owns 2,851,144 shares of the aerospace company’s stock worth $535,605,000 after purchasing an additional 166,467 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its position in shares of Raytheon by 8.1% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,705,163 shares of the aerospace company’s stock worth $508,166,000 after purchasing an additional 203,076 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.
In other Raytheon news, VP Frank R. Jimenez sold 175 shares of Raytheon stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $189.13, for a total value of $33,097.75. Following the transaction, the vice president now owns 28,311 shares in the company, valued at $5,354,459.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Thomas A. Kennedy sold 44,778 shares of Raytheon stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $215.90, for a total value of $9,667,570.20. Following the completion of the transaction, the chairman now owns 138,339 shares in the company, valued at approximately $29,867,390.10. The disclosure for this sale can be found here. Insiders sold 79,400 shares of company stock worth $17,052,714 in the last quarter. 0.19% of the stock is owned by insiders.
Shares of Raytheon (RTN) opened at $209.11 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.54 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $61,590.25, a PE ratio of 30.09, a P/E/G ratio of 2.02 and a beta of 0.71. Raytheon has a fifty-two week low of $148.65 and a fifty-two week high of $222.82.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the previous year, the company posted $1.84 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. research analysts anticipate that Raytheon will post 9.66 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Wednesday, April 11th will be paid a $0.8675 dividend. This represents a $3.47 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, April 10th. This is a positive change from Raytheon’s previous quarterly dividend of $0.80. Raytheon’s payout ratio is 45.90%.
Several research firms have recently weighed in on RTN. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Wells Fargo reiterated an “outperform” rating and set a $202.00 target price (up from $195.00) on shares of Raytheon in a research report on Tuesday, November 28th. Cowen reiterated a “buy” rating and set a $215.00 target price on shares of Raytheon in a research report on Friday, February 9th. Sanford C. Bernstein lifted their target price on Raytheon from $231.00 to $255.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada set a $235.00 target price on Raytheon and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Raytheon has a consensus rating of “Buy” and an average price target of $214.12.
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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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