Raytheon (NYSE:RTN) Holdings Lowered by Welch & Forbes LLC

Welch & Forbes LLC trimmed its stake in shares of Raytheon (NYSE:RTN) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 211,422 shares of the aerospace company’s stock after selling 11,660 shares during the quarter. Raytheon comprises 1.0% of Welch & Forbes LLC’s holdings, making the stock its 26th biggest position. Welch & Forbes LLC owned about 0.08% of Raytheon worth $46,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in RTN. Commonwealth Bank of Australia raised its holdings in shares of Raytheon by 77.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 432 shares of the aerospace company’s stock worth $73,000 after purchasing an additional 188 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Raytheon by 13.5% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 5,351 shares of the aerospace company’s stock worth $930,000 after purchasing an additional 635 shares in the last quarter. Sterling Capital Management LLC bought a new stake in shares of Raytheon in the 2nd quarter worth approximately $206,000. Silvercrest Asset Management Group LLC raised its holdings in shares of Raytheon by 23.9% in the 2nd quarter. Silvercrest Asset Management Group LLC now owns 6,498 shares of the aerospace company’s stock worth $1,130,000 after purchasing an additional 1,255 shares in the last quarter. Finally, First Foundation Advisors raised its holdings in shares of Raytheon by 27.9% in the 2nd quarter. First Foundation Advisors now owns 4,580 shares of the aerospace company’s stock worth $796,000 after purchasing an additional 999 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Shares of Raytheon stock traded down $0.16 during trading on Friday, hitting $232.16. The stock had a trading volume of 396,873 shares, compared to its average volume of 1,469,158. The stock has a 50 day simple moving average of $220.76 and a 200 day simple moving average of $200.54. The company has a market capitalization of $64.29 billion, a PE ratio of 21.88, a P/E/G ratio of 1.66 and a beta of 0.88. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 0.38. Raytheon has a 1 year low of $158.56 and a 1 year high of $232.47.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.22. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.29 billion. Raytheon had a net margin of 11.47% and a return on equity of 27.23%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $2.25 earnings per share. As a group, equities analysts expect that Raytheon will post 11.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Wednesday, January 8th will be given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, January 7th. Raytheon’s payout ratio is presently 35.53%.

A number of analysts recently commented on the stock. Wolfe Research set a $221.00 target price on shares of Raytheon and gave the stock a “buy” rating in a report on Friday, October 25th. Cowen reiterated a “buy” rating and issued a $225.00 target price on shares of Raytheon in a report on Thursday, October 24th. ValuEngine downgraded shares of Raytheon from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Credit Suisse Group boosted their target price on shares of Raytheon from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Barclays set a $215.00 target price on shares of Raytheon and gave the stock a “hold” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Raytheon has a consensus rating of “Buy” and a consensus target price of $221.80.

In related news, Director Tracy A. Atkinson sold 500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $215.48, for a total transaction of $107,740.00. Following the transaction, the director now directly owns 4,376 shares of the company’s stock, valued at $942,940.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen J. Hadley sold 1,900 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $232.00, for a total transaction of $440,800.00. Following the transaction, the director now directly owns 8,750 shares in the company, valued at $2,030,000. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

About Raytheon

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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