Nepsis Inc. Sells 284 Shares of Raytheon (NYSE:RTN)

Nepsis Inc. lessened its stake in shares of Raytheon (NYSE:RTN) by 1.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,252 shares of the aerospace company’s stock after selling 284 shares during the quarter. Raytheon makes up 2.5% of Nepsis Inc.’s holdings, making the stock its 21st biggest holding. Nepsis Inc.’s holdings in Raytheon were worth $4,780,000 as of its most recent filing with the SEC.

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. increased its position 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 worth $3,502,223,000 after acquiring an additional 288,392 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position 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 worth $63,000 after acquiring an additional 9,565,442 shares in the last quarter. 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.

In other Raytheon news, VP Anthony F. O’brien sold 9,656 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $181.06, for a total value of $1,748,315.36. Following the sale, the vice president now owns 34,057 shares of the company’s stock, valued at approximately $6,166,360.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Frank R. Jimenez sold 1,496 shares of the firm’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $181.58, for a total transaction of $271,643.68. Following the completion of the sale, the vice president now directly owns 28,613 shares in the company, valued at approximately $5,195,548.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,062 shares of company stock worth $2,544,079. 0.18% of the stock is owned by insiders.

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 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 firm 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 quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. On average, research analysts anticipate that Raytheon will post 11.61 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Wednesday, April 10th were issued a dividend of $0.9425 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.77 annualized dividend and a dividend yield of 2.09%. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.

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 price objective 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 target price on shares of Raytheon and gave the company 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 target price 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.

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Raytheon Profile

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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