Victory Capital Management Inc. raised its position in shares of Raytheon (NYSE:RTN) by 2.5% in the first quarter, HoldingsChannel.com reports. The firm owned 23,752 shares of the aerospace company’s stock after acquiring an additional 577 shares during the period. Victory Capital Management Inc.’s holdings in Raytheon were worth $5,126,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the business. Fort Point Capital Partners LLC boosted its stake in Raytheon by 20.6% during the 4th quarter. Fort Point Capital Partners LLC now owns 1,369 shares of the aerospace company’s stock valued at $257,000 after purchasing an additional 234 shares during the period. Heritage Investors Management Corp boosted its stake in Raytheon by 1.7% during the 4th quarter. Heritage Investors Management Corp now owns 15,259 shares of the aerospace company’s stock valued at $2,866,000 after purchasing an additional 260 shares during the period. Timber Hill LLC boosted its stake in Raytheon by 8.2% during the 4th quarter. Timber Hill LLC now owns 3,663 shares of the aerospace company’s stock valued at $688,000 after purchasing an additional 277 shares during the period. OLD Dominion Capital Management Inc. boosted its stake in Raytheon by 11.1% during the 1st quarter. OLD Dominion Capital Management Inc. now owns 2,828 shares of the aerospace company’s stock valued at $610,000 after purchasing an additional 283 shares during the period. Finally, HPM Partners LLC boosted its stake in Raytheon by 8.9% during the 4th quarter. HPM Partners LLC now owns 3,517 shares of the aerospace company’s stock valued at $661,000 after purchasing an additional 287 shares during the period. 72.71% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Dinesh C. Paliwal purchased 1,219 shares of the business’s stock in a transaction dated Monday, April 30th. The shares were acquired at an average price of $205.00 per share, for a total transaction of $249,895.00. Following the completion of the acquisition, the director now directly owns 2,752 shares of the company’s stock, valued at $564,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen J. Hadley sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $209.23, for a total transaction of $209,230.00. Following the sale, the director now owns 9,524 shares in the company, valued at approximately $1,992,706.52. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock worth $8,323,643 over the last quarter. Insiders own 0.19% of the company’s stock.
Raytheon opened at $211.14 on Thursday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.52 and a current ratio of 1.62. Raytheon has a 12 month low of $158.32 and a 12 month high of $229.75. The company has a market capitalization of $59.67 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 1.83 and a beta of 0.70.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, April 26th. The aerospace company reported $2.20 EPS for the quarter, topping 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 business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the firm earned $1.74 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. research analysts expect that Raytheon will post 9.87 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 10th. Investors of record on Wednesday, April 11th were issued a $0.8675 dividend. This is an increase from Raytheon’s previous quarterly dividend of $0.80. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, April 10th. Raytheon’s payout ratio is presently 45.54%.
RTN has been the subject of a number of research analyst reports. Cowen reaffirmed a “buy” rating and issued a $235.00 price target on shares of Raytheon in a research note on Tuesday, April 17th. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. Morgan Stanley reduced their price target on shares of Raytheon from $245.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, April 12th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $219.00 price target (down from $250.00) on shares of Raytheon in a research note on Tuesday. Finally, ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Raytheon presently has an average rating of “Buy” and a consensus target price of $220.45.
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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