Glenmede Trust Co. NA raised its stake in shares of Raytheon (NYSE:RTN) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 275,365 shares of the aerospace company’s stock after buying an additional 471 shares during the quarter. Glenmede Trust Co. NA owned about 0.10% of Raytheon worth $51,726,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in RTN. Signature Estate & Investment Advisors LLC acquired a new stake in Raytheon during the 3rd quarter valued at $103,000. Stonehearth Capital Management LLC acquired a new stake in shares of Raytheon during the fourth quarter worth $103,000. Rowland & Co. Investment Counsel ADV acquired a new stake in shares of Raytheon during the fourth quarter worth $106,000. Global Trust Asset Management LLC acquired a new stake in shares of Raytheon during the fourth quarter worth $136,000. Finally, Invictus RG acquired a new stake in shares of Raytheon during the third quarter worth $152,000. Hedge funds and other institutional investors own 73.43% of the company’s stock.
Raytheon stock traded down $3.48 during midday trading on Friday, reaching $215.91. The stock had a trading volume of 1,749,735 shares, compared to its average volume of 1,862,942. Raytheon has a twelve month low of $150.72 and a twelve month high of $222.82. The stock has a market capitalization of $62,291.34, a P/E ratio of 28.33, a PEG ratio of 2.04 and a beta of 0.70. The company has a current ratio of 1.54, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter last year, the firm earned $1.84 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. sell-side analysts predict that Raytheon will post 9.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Wednesday, April 11th will be given a $0.8675 dividend. 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. This represents a $3.47 annualized dividend and a yield of 1.61%. Raytheon’s dividend payout ratio (DPR) is 41.86%.
In other Raytheon news, Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $203.31, for a total value of $162,648.00. Following the transaction, the director now directly owns 10,845 shares of the company’s stock, valued at $2,204,896.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael J. Wood sold 1,974 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $208.07, for a total value of $410,730.18. Following the completion of the transaction, the vice president now directly owns 17,467 shares in the company, valued at $3,634,358.69. The disclosure for this sale can be found here. Insiders sold 105,866 shares of company stock worth $22,730,714 over the last three months. 0.19% of the stock is currently owned by corporate insiders.
Several research firms have recently issued reports on RTN. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $245.00 price objective on the stock in a report on Tuesday, March 27th. Morgan Stanley raised their price objective on Raytheon from $224.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. ValuEngine upgraded Raytheon from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Sanford C. Bernstein raised their price objective on Raytheon from $231.00 to $255.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Barclays began coverage on Raytheon in a report on Thursday, March 29th. They set an “equal weight” rating and a $239.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $219.36.
TRADEMARK VIOLATION NOTICE: This report was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another publication, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this report can be read at https://www.dispatchtribunal.com/2018/04/08/glenmede-trust-co-na-acquires-471-shares-of-raytheon-rtn.html.
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.
Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.