TAP Consulting LLC purchased a new stake in shares of Raytheon (NYSE:RTN) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 1,500 shares of the aerospace company’s stock, valued at approximately $273,000.
Other hedge funds have also recently made changes to their positions in the company. HNP Capital LLC raised its holdings in Raytheon by 0.6% in the 1st quarter. HNP Capital LLC now owns 9,030 shares of the aerospace company’s stock valued at $1,644,000 after buying an additional 57 shares during the period. Weatherly Asset Management L. P. increased its stake in Raytheon by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 14,960 shares of the aerospace company’s stock worth $2,724,000 after purchasing an additional 63 shares during the period. Cibc Bank USA increased its stake in Raytheon by 1.7% during the fourth quarter. Cibc Bank USA now owns 3,733 shares of the aerospace company’s stock worth $572,000 after purchasing an additional 64 shares during the period. Coastline Trust Co increased its stake in Raytheon by 0.6% during the fourth quarter. Coastline Trust Co now owns 10,850 shares of the aerospace company’s stock worth $1,664,000 after purchasing an additional 65 shares during the period. Finally, Lodestar Investment Counsel LLC IL increased its stake in Raytheon by 3.1% during the first quarter. Lodestar Investment Counsel LLC IL now owns 2,148 shares of the aerospace company’s stock worth $391,000 after purchasing an additional 65 shares during the period. 76.91% of the stock is currently owned by hedge funds and other institutional investors.
RTN stock opened at $177.88 on Thursday. The company has a market capitalization of $49.44 billion, a PE ratio of 16.77, a PEG ratio of 1.37 and a beta of 0.96. Raytheon has a twelve month low of $144.27 and a twelve month high of $214.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.31.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $2.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.32. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.58 billion. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 earnings per share. On average, sell-side analysts predict that Raytheon will post 11.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Wednesday, April 10th were issued a $0.9425 dividend. This is an increase from Raytheon’s previous quarterly dividend of $0.87. This represents a $3.77 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Tuesday, April 9th. Raytheon’s dividend payout ratio is presently 35.53%.
In related news, VP Michael J. Wood sold 427 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $177.58, for a total transaction of $75,826.66. Following the completion of the sale, the vice president now directly owns 13,165 shares of the company’s stock, valued at $2,337,840.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Anthony F. O’brien sold 9,656 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $181.06, for a total value of $1,748,315.36. Following the sale, the vice president now directly owns 34,057 shares of the company’s stock, valued at $6,166,360.42. The disclosure for this sale can be found here. Insiders sold 21,657 shares of company stock valued at $3,940,619 over the last three months. Corporate insiders own 0.18% of the company’s stock.
A number of analysts have issued reports on RTN shares. Argus reiterated a “buy” rating and set a $200.00 price target on shares of Raytheon in a research note on Friday, February 1st. ValuEngine lowered shares of Raytheon from a “hold” rating to a “sell” rating in a research note on Thursday, January 31st. Alembic Global Advisors upgraded shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 target price on the stock in a research note on Tuesday, February 5th. UBS Group lowered shares of Raytheon from a “buy” rating to a “neutral” rating and cut their target price for the stock from $220.00 to $200.00 in a research note on Wednesday, April 3rd. Finally, Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $210.36.
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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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