Koshinski Asset Management Inc. lessened its stake in Raytheon (NYSE:RTN) by 60.5% during the 1st quarter, HoldingsChannel reports. The firm owned 3,210 shares of the aerospace company’s stock after selling 4,925 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Raytheon were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Korea Investment CORP raised its stake in shares of Raytheon by 2.3% during the 4th quarter. Korea Investment CORP now owns 383,753 shares of the aerospace company’s stock worth $58,849,000 after buying an additional 8,800 shares during the period. Peak Asset Management LLC raised its stake in shares of Raytheon by 5.9% during the 4th quarter. Peak Asset Management LLC now owns 45,135 shares of the aerospace company’s stock worth $6,921,000 after buying an additional 2,507 shares during the period. Duality Advisers LP acquired a new position in shares of Raytheon during the 4th quarter worth approximately $8,361,000. Tredje AP fonden raised its stake in shares of Raytheon by 1.0% during the 1st quarter. Tredje AP fonden now owns 23,343 shares of the aerospace company’s stock worth $4,250,000 after buying an additional 227 shares during the period. Finally, LSV Asset Management raised its stake in shares of Raytheon by 534.5% during the 4th quarter. LSV Asset Management now owns 229,200 shares of the aerospace company’s stock worth $35,147,000 after buying an additional 193,076 shares during the period. Institutional investors and hedge funds own 74.39% of the company’s stock.
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 value of $75,826.66. Following the completion of the transaction, the vice president now directly owns 13,165 shares of the company’s stock, valued at approximately $2,337,840.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Frank R. Jimenez sold 1,417 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $180.10, for a total value of $255,201.70. Following the completion of the transaction, the vice president now directly owns 30,748 shares of the company’s stock, valued at $5,537,714.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,592 shares of company stock valued at $2,310,174. 0.18% of the stock is owned by corporate insiders.
Several research analysts have recently weighed in on RTN shares. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Vertical Research downgraded Raytheon from a “buy” rating to a “hold” rating and reduced their target price for the stock from $216.00 to $203.00 in a research note on Tuesday. Stifel Nicolaus upped their target price on Raytheon from $205.00 to $218.00 and gave the stock a “buy” rating in a research note on Monday. ValuEngine raised Raytheon from a “sell” rating to a “hold” rating in a research note on Friday, June 7th. Finally, Jefferies Financial Group upped their target price on Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $208.36.
NYSE RTN traded up $1.40 during mid-day trading on Friday, hitting $178.52. The stock had a trading volume of 425,437 shares, compared to its average volume of 2,028,904. Raytheon has a twelve month low of $144.27 and a twelve month high of $210.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.43. The company has a market cap of $50.11 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.35 and a beta of 0.92.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $2.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.32. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the prior year, the company earned $2.20 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts predict that Raytheon will post 11.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.9425 dividend. This represents a $3.77 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Tuesday, July 9th. Raytheon’s dividend payout ratio is currently 35.53%.
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Raytheon Company develops integrated products, services, and solutions for the 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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