Brown Advisory Inc. lessened its stake in Raytheon (NYSE:RTN) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,165 shares of the aerospace company’s stock after selling 2,780 shares during the period. Brown Advisory Inc.’s holdings in Raytheon were worth $15,143,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTN. BlackRock Inc. lifted its stake in shares of Raytheon by 1.8% in the 1st quarter. BlackRock Inc. now owns 21,631,795 shares of the aerospace company’s stock valued at $4,668,574,000 after acquiring an additional 390,856 shares during the last quarter. Royal Bank of Canada raised its position in Raytheon by 23.7% during the 1st quarter. Royal Bank of Canada now owns 1,855,895 shares of the aerospace company’s stock valued at $400,539,000 after purchasing an additional 356,086 shares during the last quarter. Alkeon Capital Management LLC bought a new position in Raytheon during the 1st quarter valued at approximately $70,142,000. Winslow Capital Management LLC raised its position in Raytheon by 26.2% during the 1st quarter. Winslow Capital Management LLC now owns 1,516,593 shares of the aerospace company’s stock valued at $327,311,000 after purchasing an additional 314,561 shares during the last quarter. Finally, Millennium Management LLC raised its position in Raytheon by 100.0% during the 4th quarter. Millennium Management LLC now owns 591,173 shares of the aerospace company’s stock valued at $111,052,000 after purchasing an additional 295,616 shares during the last quarter. 72.69% of the stock is owned by institutional investors.
Raytheon opened at $194.39 on Tuesday, MarketBeat Ratings reports. Raytheon has a fifty-two week low of $161.87 and a fifty-two week high of $229.75. The company has a current ratio of 1.62, a quick ratio of 1.52 and a debt-to-equity ratio of 0.46. The company has a market cap of $55.49 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 1.70 and a beta of 0.69.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, April 26th. The aerospace company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.10. Raytheon had a return on equity of 22.69% and a net margin of 8.40%. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the business earned $1.74 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. analysts expect that Raytheon will post 9.87 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 2nd. Shareholders of record on Wednesday, July 11th will be issued a dividend of $0.8675 per share. The ex-dividend date is Tuesday, July 10th. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.79%. Raytheon’s dividend payout ratio (DPR) is 45.54%.
A number of research firms have commented on RTN. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. ValuEngine lowered Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Wolfe Research raised Raytheon from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 8th. Credit Suisse Group reaffirmed a “neutral” rating and set a $219.00 price target (down previously from $250.00) on shares of Raytheon in a research report on Tuesday, May 22nd. Finally, Barclays began coverage on Raytheon in a research report on Thursday, March 29th. They set an “equal weight” rating and a $239.00 price target for the company. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $220.23.
In related news, Director Vernon E. Clark sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $212.52, for a total value of $212,520.00. Following the sale, the director now owns 6,588 shares in the company, valued at approximately $1,400,081.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Taylor W. Lawrence sold 1,241 shares of the company’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $212.14, for a total value of $263,265.74. Following the completion of the sale, the vice president now owns 46,999 shares in the company, valued at approximately $9,970,367.86. The disclosure for this sale can be found here. Insiders have sold a total of 3,862 shares of company stock worth $816,748 in the last quarter. Company insiders own 0.19% of the company’s stock.
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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