Great Valley Advisor Group Inc. grew its stake in shares of Raytheon (NYSE:RTN) by 5.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,910 shares of the aerospace company’s stock after buying an additional 99 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Raytheon were worth $348,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc raised its holdings in shares of Raytheon by 0.9% during the third quarter. Vanguard Group Inc now owns 23,074,017 shares of the aerospace company’s stock valued at $4,768,477,000 after purchasing an additional 212,408 shares during the period. BlackRock Inc. raised its holdings in shares of Raytheon by 1.3% during the fourth quarter. BlackRock Inc. now owns 22,838,110 shares of the aerospace company’s stock valued at $3,502,223,000 after purchasing an additional 288,392 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Raytheon by 8,792.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,674,238 shares of the aerospace company’s stock valued at $63,000 after purchasing an additional 9,565,442 shares during the period. Macquarie Group Ltd. increased its position in shares of Raytheon by 11.3% during the fourth quarter. Macquarie Group Ltd. now owns 3,975,205 shares of the aerospace company’s stock worth $609,599,000 after acquiring an additional 402,785 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its position in shares of Raytheon by 9.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,880,490 shares of the aerospace company’s stock worth $595,074,000 after acquiring an additional 334,298 shares in the last quarter. 76.91% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on RTN. UBS Group downgraded shares of Raytheon from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $220.00 to $200.00 in a research report on Wednesday, April 3rd. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research report on Wednesday, April 17th. Jefferies Financial Group upped their price objective on shares of Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Wolfe Research set a $205.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Alembic Global Advisors raised shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price objective for the company in a research report on Tuesday, February 5th. One equities 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 stock. The stock has an average rating of “Buy” and an average price target of $210.36.
In related news, VP Michael J. Wood sold 427 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $177.58, for a total transaction of $75,826.66. Following the transaction, the vice president now owns 13,165 shares of the company’s stock, valued at approximately $2,337,840.70. The transaction was disclosed in a legal 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 shares were sold at an average price of $181.06, for a total transaction of $1,748,315.36. Following the transaction, the vice president now directly owns 34,057 shares in the company, valued at approximately $6,166,360.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,062 shares of company stock worth $2,544,079. Corporate insiders own 0.18% of the company’s stock.
NYSE RTN traded down $2.10 on Wednesday, hitting $180.53. The stock had a trading volume of 1,187,072 shares, compared to its average volume of 1,896,623. Raytheon has a 52-week low of $144.27 and a 52-week 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. The stock has a market capitalization of $49.81 billion, a PE ratio of 17.02, a P/E/G ratio of 1.35 and a beta of 0.96.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.45 by $0.32. The business had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.58 billion. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 EPS. On average, research analysts anticipate that Raytheon will post 11.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.9425 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.77 annualized dividend and a dividend yield of 2.09%. This is a boost from Raytheon’s previous quarterly dividend of $0.87. Raytheon’s dividend payout ratio (DPR) is 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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