Karp Capital Management Corp decreased its holdings in Raytheon (NYSE:RTN) by 1.8% in the 1st quarter, HoldingsChannel reports. The fund owned 21,011 shares of the aerospace company’s stock after selling 388 shares during the quarter. Raytheon comprises about 1.8% of Karp Capital Management Corp’s investment portfolio, making the stock its 15th largest holding. Karp Capital Management Corp’s holdings in Raytheon were worth $4,535,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of RTN. Lipe & Dalton purchased a new stake in shares of Raytheon during the 1st quarter worth $108,000. Bray Capital Advisors purchased a new stake in shares of Raytheon during the 1st quarter worth $113,000. Global Trust Asset Management LLC purchased a new stake in shares of Raytheon during the 4th quarter worth $136,000. Litman Gregory Asset Management LLC purchased a new stake in shares of Raytheon during the 1st quarter worth $167,000. Finally, Certified Advisory Corp purchased a new stake in shares of Raytheon during the 4th quarter worth $174,000. Institutional investors and hedge funds own 73.65% of the company’s stock.
In other news, VP Taylor W. Lawrence sold 1,088 shares of the company’s stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $215.02, for a total value of $233,941.76. Following the completion of the sale, the vice president now directly owns 51,657 shares of the company’s stock, valued at $11,107,288.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Anthony F. O’brien sold 10,503 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $214.17, for a total transaction of $2,249,427.51. Following the completion of the sale, the chief financial officer now directly owns 35,328 shares of the company’s stock, valued at $7,566,197.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,969 shares of company stock valued at $8,323,643. 0.19% of the stock is owned by corporate insiders.
Shares of RTN opened at $211.06 on Friday. Raytheon has a 1-year low of $158.32 and a 1-year high of $229.75. The firm has a market capitalization of $60.50 billion, a P/E ratio of 27.70, a P/E/G ratio of 1.86 and a beta of 0.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.62 and a quick ratio of 1.52.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, April 26th. The aerospace company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.10. Raytheon had a net margin of 8.40% and a return on equity of 22.69%. The firm had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the previous year, the company earned $1.74 earnings per share. Raytheon’s quarterly revenue was up 4.4% compared to the same quarter last year. sell-side analysts predict that Raytheon will post 9.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 10th. Investors of record on Wednesday, April 11th were given a $0.8675 dividend. The ex-dividend date was Tuesday, April 10th. This is a boost from Raytheon’s previous quarterly dividend of $0.80. This represents a $3.47 dividend on an annualized basis and a yield of 1.64%. Raytheon’s payout ratio is 45.54%.
Several equities research analysts have recently issued reports on RTN shares. Royal Bank of Canada set a $235.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Robert W. Baird reaffirmed a “buy” rating and set a $237.00 price objective on shares of Raytheon in a research report on Friday, January 26th. Stifel Nicolaus lifted their price objective on shares of Raytheon from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, April 6th. Finally, Morgan Stanley decreased their price objective on shares of Raytheon from $245.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, April 12th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $220.53.
Raytheon Company develops integrated products, services, and solutions for 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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